IFC Asset Management Company (AMC), a wholly owned subsidiary of the International Finance Corporation (IFC), has raised approximately $693 million for the IFC Emerging Asia Fund.
The fund’s mandate is to invest growth capital across multiple sectors in 26 emerging Asian countries alongside IFC and to provide investors with the opportunity to invest in IFC’s proprietary pipeline of investments in Emerging Asia. Central to this Fund is raising additional capital for investment in emerging markets in the Asia region, and to make the private sector central to finding and financing the development solutions that are needed most.
By leveraging IFC’s investment expertise, distinct transaction pipeline, and organizational networks, the Fund offers institutional investors a cost-efficient platform to make direct investments in emerging Asia—where barriers to entry and transaction costs for investors can be significant. IFC has invested more than $6.3 billion of equity in Emerging Asia projects from January 2000 to June 2017.
“Emerging Asia is the fastest growing region and the largest continental economy by GDP in the world,” said Marcos Brujis, CEO of IFC Asset Management Company. “These dynamics have created significant opportunities for equity investment in the region, driven by the continued need for infrastructure and the emergence of a rapidly growing middle class.”
“Reaching final close of $693 million for the IFC Emerging Asia Fund is a terrific milestone,” said Andrew Yee, Co-Head, IFC Emerging Asia Fund. “We look forward to a continued partnership with our LPs,” added Saadia Khairi, Co-Head, IFC Emerging Asia Fund.
The IFC Emerging Asia Fund has already made three investments in Apollo Health & Lifestyle (India), Summit Power International (Bangladesh) and Shwe Taung Cement (Myanmar).
Original source: IFC
Published on 12 February 2018
