39925-014: REG: DARBY ASIA MEZZANINE FUND II | Asian Development Bank


Nonsovereign (Private) Project | 39925-014 Status: Archived

Project Details

Project Officer
Pacifico, Catherine C. Private Sector Operations Department Request for information
  • Regional
  • Finance
Project Number 39925-014
Country Regional
Location Regional
Type or Modality of Assistance
7247 Equity USD 20.00 million Approved
Strategic Agendas Environmentally sustainable growth
Drivers of Change Private sector development
Sector / Subsector

Finance / Infrastructure finance and investment funds

Gender Equity and Mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Portfolio Management Division, PSOD
Responsible ADB Officer Pacifico, Catherine C.
Project Sponsor(s)
Objectives and Scope The primary goals for the Fund are to (i) help develop deeper and more liquid capital markets in ADB developing member countries (DMCs) through support of a nascent mezzanine asset class in the region; (ii) increase expansion capital financing to mid-market companies with significant emphasis on the infrastructure sector; and (iii) promote the growth and sustainability of Asia's emerging private equity markets by supporting their management team in expanding their investment operations.
Status of Development Objectives By providing financing to the Fund, ADB would (i) support infrastructure projects in ADB's DMCs; (ii) support the continuing development of an underserved segment of the private equity industry; (iii) promote the development of deeper, more liquid, and more diversified capital markets in Asia; (iv) transfer and build mezzanin expertise in DMCs; (v) mobilize investment in the real economy; and (vi) support a proven fund manager to ensure the growth and sustainability of Asia's emerging private equity markets.
Linkage to Country/Regional Strategy In implementing the country strategy and programs (CSPs), ADB's private sector operations must address the challenges of immature capital markets in ADB's DMCs, which has created a significant gap for infrastructure companies, as well as mid-market entrepreneurial companies seeking long-term finance. The resulting lack of long-term finance hampers private sector development, creating a unique opportunity for untapped asset classes such as mezzanine finance. ADB can catalyze entrepreneurial finance and foster the development of the private equity industry by supporting the development of a nascent asset class in ADB's DMCs.
Safeguard Categories
Environment FI
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects The Fund Manager is developing an environmental policy and environmental management system (EMS) for the Fund in cooperation with ADB. No involuntary resettlement is foreseen in relation to any investments by the Fund. No investments by the Fund are expected to impact indigenous peoples.
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 04 Aug 2005
Credit Committee Meeting 04 Oct 2006
Approval 10 Nov 2006
PDS Creation Date 11 Dec 2006
Last PDS Update 29 Sep 2014

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

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Title Document Type Document Date
Darby Asia Mezzanine Fund II: Extended Annual Review Report Extended Annual Review Reports Sep 2015
Proposed Equity Investment Darby Asia Mezzanine Fund II Reports and Recommendations of the President Oct 2006

Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

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The Public Communications Policy (PCP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

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