The proposed investment is for a debt facility of up to US$100 million comprising (i) US$50 million IFC A Loan and (ii) US$50 million mobilized by MCPP One Planet, to support Crescent Investment Management III Ltd. (Crescent Point), the General Partner for Crescent Asia Consumer and Deep Value Fund III, L.P.. Crescent Point is forming a hotel and resorts management platform to acquire and manage hospitality assets within large Southeast Asian countries such as Indonesia, Philippines, Thailand and Vietnam, plus other attractive hospitality markets such as Maldives. IFC will help Crescent Point to implement Excellence in Design for Greater Efficiencies certification of the hotels under the project.
The first investment identified under the Crescent Loan Project is the acquisition and retrofitting of a resort in the Baa Atoll, Maldives.
As stated by the IFC, Crescent Point and its affiliates (CP Group) manages consumer-focused private equity funds with a geographic focus in China and Southeast Asia started in 2003. Over the last 20 years, CP Group has invested over US$2.0 billion in over 50 companies. CP Group is headquartered in Singapore and has four local offices including Shanghai, HCMC, Jakarta and Manila currently.
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