According to bank documents, the proposed project consists of an equity investment of up to US$15.5 million in Alta Semper Ilera Fund I, L.P., a 10-year private equity fund targeting to raise US$250 million. The Fund will obtain controlling stakes in leading healthcare and consumer companies by way of equity investments. The Fund will have a pan-African focus and make equity investments of between US$10 and US$50 million per transaction.
The Fund is an exempted limited partnership registered under the laws of Mauritius. Alta Semper team is based in London, UK; Lagos, Nigeria; and Cairo, Egypt. The Fund will primarily target to invest in Ivory Coast, Nigeria, Ghana, Senegal, Morocco, Egypt, Tunisia, Ethiopia, Kenya, Tanzania, Uganda and Mozambique.
The proposed project is for an equity investment of US$15.5 million of which $0.5 million is from the Women Entrepreneurship Finance Initiative (“We-Fi”). We-Fi is a global program that seeks to unlock billions of dollars in financing to tackle the full range of barriers facing women entrepreneurs—increasing access to finance, markets, technology, and mentoring, while strengthening policy, legal and regulatory frameworks. The total IFC and We-Fi investment is not to exceed 20% of total committed capital. The target size of the Fund is US$250 million in commitments.
The Fund will be managed by Alta Semper Capital, a limited liability partnership registered in England and Wales that was established in 2015. The Fund Manager is headquartered in London and regulated by the U.K. Financial Conduct Authority.
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/