According to the bank website, Lighthouse India Fund III, Limited (the “Fund”) and its investment advisor, MUSE Capital Advisors, Limited (“Lighthouse”) offered to IFC a co-investment opportunity (through its Fund) in Aqualite Industries Private Limited (the “Company”), a leading manufacturer of mass-market footwear in India. IFC is an investor in the Fund, a US$183.6 million growth equity fund focused on lower mid-market companies in India. IFC invested US$20 million in the Fund in 2018 and has a 10.89 percent ownership stake in the Fund. IFC is planning to invest up to US$10 million, subject to final allocation by Lighthouse.
According to IFC, the project is sponsored by the Fund, a Mauritius based public company limited by shares, with limited life. The Fund invests in lower mid-market companies in India spanning sectors such as consumer goods (personal care & lifestyle and food & beverage), agriculture, building materials, healthcare and financial services. Lighthouse serves as the Fund’s investment advisor, in accordance with the Mauritius Securities Act 2005. The Fund is investing in the Company through a Special Purpose Vehicle (“SPV”), Lighthouse India III Holdings, Limited created solely for the purpose of this investment.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Aqualite Industries Private Limited||Client||-|
|-||-||-||-||MUSE Capital Advisors, Limited||Investor||-|
MUSE Capital Advisors, Limited, Investment Advisor to Lighthouse India Fund III, Limited
Mr. Mukund Krishnaswami
C/o SGG Fund Services, 33, Edith Cavell Street, Port Louis, Mauritius
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/