|Project Name||REG: AIF CAPITAL ASIA III|
|Borrower/Company||AIF CAPITAL ASIA III, LP
|Type or Modality of Assistance||
|Strategic Agendas||Inclusive economic 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.|
|Objectives and Scope||The Fund targets companies benefitting from Asia's economic growth, with a focus on two key trends: (i) further integration of Asia into global supply chain, and (ii) rising domestic demand driven by the emerging Asian middle class. The Fund focuses on an investment size of $10-50 million for influential minority expansion capital, buyouts, and special situation opportunities in companies with enterprise valuations of $50-500 million.|
|Status of Development Objectives||The Fund will help promote the growth of the private equity industry in the middle market segment. It can increase the amount of bank lending to businesses by (a) injecting equity to improve the balance sheet and borrowing power of the portfolio company, and (b) completing separate due diligence on the business opportunity to address any concerns the bank may have on the viability. The Fund Manager's ability to add value in terms of instilling best practices in corporate governance creates a demonstration effect, in which the standards of a given industry are improved.|
|Linkage to Country/Regional Strategy||ADB's country strategy for the People's Republic of China (PRC) recommends making markets work better by developing an enabling environment for the private sector; promoting good governance, the rule of law, and transparent regulation; supporting financial sector reforms; and expanding ADB's private sector operations. For India, ADB's country strategy and program 2003-2006 states that the private sector has a leading role to play in achieving growth targets. The strategy focuses on promoting an enabling environment for private sector development through (i) financial sector interventions to improve financial intermediation and resource mobilization; (ii) policy reforms to remove impediments to private investment-domestic and foreign; (iii) investment in public infrastructure, which also facilitates private investment; (iv) public-private partnerships; and (v) investments in private sector projects. For Indonesia, the country strategy and program (2002-2005) highlights the role of business investment in accelerating Indonesia's growth path and pays special attention to fostering a vibrant and competitive private sector.|
|Summary of Environmental and Social Aspects|
|Environmental Aspects||The Fund Manager already possesses experience with respect to adhering to ADB's social and environmental safeguard policies through its existing funds. The Fund Manager has adopted an environment management system.|
|Stakeholder Communication, Participation, and Consultation|
|Timetable for assistance design, processing and implementation|
|Concept Clearance||04 Aug 2005|
|Credit Committee Meeting||11 Apr 2006|
|Approval||31 May 2006|
|PDS Creation Date||18 Jul 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.
The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
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In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
|Title||Document Type||Document Date|
|Proposed Equity Investment in AIF Capital Asia III||Reports and Recommendations of the President||Apr 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.
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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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