Original disclosure @ IFC website
Updated in EWS Feb 7, 2023
Disclosed by Bank Jan 20, 2023
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The Africa Conservation & Communities Tourism Fund, SCSp SICAV – RAIF was established in 2021 as a structured debt vehicle providing loans to ecotourism businesses (safari operators, camps, lodges, hotels, etc.) in conservation areas in sub-Saharan Africa (the “Project”). ACCT is raising up to US$75m. The Fund is structured using a blended finance approach with three tranches of capital: a junior tranche, a senior tranche and a grant tranche.
The ACCT Fund is a response to conservation threats resulting from the COVID-19 pandemic, with the specific aim of alleviating financial stress in the short to mid-term of well-managed conservation tourism businesses and increasing the conservation and community outcomes delivered by these businesses. As the impact of COVID-19 reduces, the ACCT Fund will also look at supporting operators who can catalyze significant financial flows to conservation activity in unutilized, or underutilized, ecologically important natural landscapes, to the benefit of the wildlife and communities who depend on them.
IFC RISK RATING: F1=2
From the IFC webpage:
In addition to US$20m senior tranche capital seeded and committed by anchor investor The Nature Conservancy (TNC), the world’s largest conservation NGO, US$28.2m junior tranche capital committed by the German Federal Ministry for Economic Cooperation and Development (“BMZ”) through KfW, US$2.0m grant capital committed by USAID, ACCT will have multiple investors and stakeholders, including IFC. The affairs of the Fund are managed and controlled by ThirdWay Conservation Partners I GP, S.à r.l. (“ThirdWay Conservation Partners”), who serves as general partner, and has appointed Innpact Fund Management S.A to act as the Fund’s external alternative investment fund manager (“External AIFM”). ThirdWay Conservation Partners is part of the ThirdWay Partners group of companies (“TWP”), an advisory and asset management firm focused on sustainable development with a track record in Africa. Founded in 2014, TWP has 3 core offerings, namely impact consulting and corporate finance as part of its advisory team, as well as asset management. The firm is made up of 30+ dedicated team spread across their offices in London, Madrid, Maputo, Nairobi and Johannesburg. TWP has advised on US$1billion plus of transactions over 50 advisory mandates. Across its Group, TWP currently manages or advises 3 investment vehicles, including the ACCT Fund.
Africa Conservation & Communities Tourism Fund, SCSp SICAV – RAIF
Mr. Maarten Weehuizen
Portfolio Manager – ACCT Fund
+447 4799 40197
412 F, Route d’Esch, L – 1471, Luxembourg, Grand Duchy of Luxembourg
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