Gramercy IV (IFC-51610)

Regions
  • World
Geographic location where the impacts of the investment may be experienced.
Countries
  • Angola
  • Brazil
  • Colombia
  • Mexico
  • Peru
  • Turkiye
  • United States of America
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
Proposed
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
Jul 27, 2026
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
Gramercy Funds Management LLC
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)
$ 833.00 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 Jul 8, 2026

Disclosed by Bank Jun 25, 2026

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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.

As stated by the IFC, the proposed transaction involves an IFC investment of up to US$25 million as a limited partner in Gramercy Capital Solutions Fund IV, L.P. (the Fund), a closed-end private credit fund focused on providing senior secured structured debt financing to middle-market enterprises (MMEs) in emerging markets, primarily in Latin America and the Caribbean (LAC), with complementary exposure to select Central and Eastern Europe, Middle East, and Africa (CEEMEA) markets.  

The company's website (consulted on July 8, 2026) reports that Gramercy Funds Management LLC recently invested in PiO SAS, a company operating in the oil and gas sector in Colombia. Specifically, the transaction, announced in February 2026, consists of a US$ 30 million secured holdco loan to support PiO's investment in the Regasificadora del Pacifico LNG proiect in Colombia, described as "a key development for Colombia's natural gas supply framework".

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The IFC stated that the Fund provides and intends to continue providing debt financing to mid-sized enterprises across various sectors in Latin America, the Caribbean, and Asia, including real estate, industrial and manufacturing, consumer goods, agribusiness, and financial services.

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

As stated by the IFC, the Project consists of an IFC equity commitment of up to US$25 million as a limited partner in the Fund, representing approximately 3% of the Fund's capital commitments as of the date of IFC’s investment.

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.

As stated by the IFC, the Fund will be managed by Gramercy Funds Management LLC (the Fund Manager), a US SEC-registered investment adviser founded in 1998. Gramercy is a leading emerging market-focused private credit asset manager with approximately US$7.5 billion in assets under management and a team of approximately 50 investment professionals. The Fund Manager's Capital Solutions platform has raised over US$2 billion since its inception in 2017 across three predecessor funds. Gramercy is majority-owned and controlled by its founder, Robert Koenigsberger, with remaining interests held by Scott Seaman, Kudu Investment Management LLC, and the San Bernardino County Employees' Retirement Association.  

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - PiO SAS Undisclosed Infrastructure

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.

Fiancial Intermediary - Gramercy Funds Management LLC:

Lacie Smith - Head of Investor Relations
Phone: +1 203 552 1928
Email: lsmith@gramercy.com
Address: Greenwich, CT 06830
Website: https://www.gramercy.com/

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

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

How it works

How it works