Lakeshore II (IFC-42817)

Countries
  • Thailand
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 31, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
LAKESHORE CAPITAL II, LP
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 17, 2024

Disclosed by Bank Nov 14, 2019

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank website, "Lakeshore Capital II LP (“Lakeshore II” or the “Fund”) is a US$125 million generalist growth capital fund, targeting investments of US$5-20 million in Thai companies, to acquire significant minority and majority stakes."

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

According to IFC, the target size of the Fund is US$125 million. IFC’s proposed investment in the Fund is an equity investment of up to US$20 million, not to exceed 20% of total Fund commitments.  

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

According to tthe IFC, the Fund will be managed by Lakeshore Capital Asia Ltd (the “Fund Manager” or “Lakeshore”). Lakeshore has four partners: Panaikorn Chartikavanij, Anotai Adulbhan, Supawat Likittanawong and Leonard Cohen. Bangkok Bank and the Development Bank of Japan also hold minority stakes in the Fund Manager. Lakeshore II is the successor fund to Lakeshore Capital I LP (“Lakeshore I”), a US$60.7 million fund with the same strategy as Lakeshore II. IFC was an anchor investor in Lakeshore I, which achieved first close in 2014.

According to Pitchbook, Lakeshore Capital Partners Fund II is a buyout fund managed by Lakeshore Capital Thailand. The fund is based in Bangkok, Thailand and invests in Thailand. It targets pharmaceuticals and biotechnology sector and prefers transaction value between $5 million to $50 million per company having EBITDA of minimum $2 million.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Lakeshore Capital II LP
Panaikorn Chartikavanij
Partner
+66 (0)2658 5715
info@Lakeshore-Capital.com
Mercury Tower, 18th Floor, 540 Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330, Thailand
www.Lakeshore-Capital.com 

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/

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How it works