NAVIS CLMV Co-Investment Fund, L.P. (IFC-43586)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • Cambodia
  • Laos
  • Myanmar
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Specific Location
Cambodia, Laos, Myanmar and Vietnam
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
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
Nov 30, 2020
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
NAVIS CLMV CO-INVESTMENT FUND, L.P
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)
$ 25.00 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.
Project Cost (USD)
$ 150.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 21, 2021

Disclosed by Bank Oct 21, 2020

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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 document, "the proposed investment is for up to US$25 million in Navis CLMV Co-Investment Fund, L.P. (“the Fund” or “the CLMV Fund”), a US$150 million (target) buyout fund investing into Cambodia, Laos, Myanmar and Vietnam (“CLMV”).

The Fund will be managed by Navis Capital Partners Limited or an affiliate thereof (“Navis”). Also, Navis Partners Limited will co-invest alongside Navis Asia Fund VIII, L.P. and its parallel funds (“Navis VIII”) in investments in the CLMV markets".

Both Navis Asia Fund VIII and Navis CLMV Co-Investment Fund, L.P are managed by Navis Capital Partners Limited. The Fund will primarily invest in businesses in Cambodia, Laos, Myanmar and Vietnam.

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

The target size of the CLMV Fund is US$150 million. IFC’s proposed investment in the Fund is an equity investment of up to US$25 million, not to exceed 20% of total Fund commitments.   

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.

Navis is a Southeast Asian-focused fund manager established in 1998 by its founders, Nicholas Bloy, Rodney Muse and Richard Foyston. Since its formation, Navis has been making control investments in growing businesses across the dynamic economies of Southeast Asia, including CLMV.

Website: https://www.naviscapital.com/

 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Navis Asia Fund VIII, L.P. Investor -
- - - - Navis Capital Partners Parent Company -
- - - - NAVIS CLMV CO-INVESTMENT FUND, L.P Client -

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.

Project Contact

Navis Capital Partners Ltd
Michael Octoman
Senior Partner and Chief Operating Officer
+603 2302 3888
investorrelations@naviscapital.com
Lvl 17, Axiata Tower, 9, Jalan Stesen Sentral V, Kuala Lumpur Sentral, 50470 Kuala Lumpur, Malaysia
www.naviscapital.com

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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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