According to the bank document, "the project is part of IFC’s Distressed Asset Recovery Program (“DARP”) and proposes an investment of up to US$30 million through a combination of senior and junior loans to a DARP platform (“DARP SPV CCM”) being set up by Collectius AG (“Collectius” or the “Company”).
Collectius will also provide similar US$30 million funding to the SPV. The proceeds will be used to acquire and resolve unsecured retail non-performing loans (“NPLs”) in Indonesia, Malaysia, the Philippines, Thailand and Vietnam (“Target Markets”), allowing Collectius to expand in these markets.
The project proposes an investment of up to US$60 million; US$30 million from IFC and US$30 million from Collectius. The project also involves a minority equity investment by IFC in Collectius.
Collectius is one of the regional retail NPL purchasing and servicing company with capacity to operate in the Target Markets. It was founded in 2014 by Gustav A. Eriksson and Ivar Björklund and became fully operational in 2016 after the acquisition of Milliken & Craig, a Singapore based debt collection management company.
Collectius is majority-owned by the two founders with the remaining owned by Stena AB (“Stena”) and Formica Capital (“Formica”). Stena is a family-owned company in Sweden having global operations in Ferry Operations, Offshore Drilling, Shipping, Property, Finance and New Business. Formica is an investment company focused on impact investing and is a related company to Stena family office.
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1/ Project Contact
Gustav A. Eriksson
(+65) 9833 7304
1 Changi Business Park Crescent, #02-16 plaza 8@CBP, Singapore 486025
2/ IFC Contact
General IFC Inquiries
2121 Pennsylvania Avenue, NW
Washington DC 20433
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