Regional: Creador IV, L.P.

Nonsovereign Project | 52067-001

Creador IV is a private equity fund that seeks to invest predominantly growth capital in the form of equity into middle market companies in India, Indonesia, Malaysia, the Philippines, Sri Lanka, and Viet Nam.

Project Details

  • Project Officer
    Conti, Davide
    Private Sector Operations Department
    Request for information
  • Country
    Regional
  • Sector
    • Finance
Project Name Creador IV, L.P.
Project Number 52067-001
Borrower/Company Creador Management IV Limited
Country Regional
India
Indonesia
Malaysia
Philippines
Sri Lanka
Viet Nam
Location India - Nation-wide; Indonesia - Nation-wide; Malaysia - Nation-wide; Philippines - Nation-wide; Sri Lanka - Nation-wide; Viet Nam - Nation-wide
Type or Modality of Assistance
7570 Equity Ordinary capital resources USD 50.00 million Committed
Strategic Agendas Inclusive economic growth
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Finance / Infrastructure finance and investment funds

Gender Equity and Mainstreaming No gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Private Sector Investment Funds & Special Initiatives Div
Responsible ADB Officer Conti, Davide
Project Sponsor(s)
Description Creador IV is a private equity fund that seeks to invest predominantly growth capital in the form of equity into middle market companies in India, Indonesia, Malaysia, the Philippines, Sri Lanka, and Viet Nam.
Objectives and Scope Focus sectors include financial services, consumer goods and services (including healthcare), business services and potentially manufacturing. The Asian Development Bank's (ADB) investment will help to further deepen the capital markets in the South Asian and Southeast Asian countries for middle market companies who often struggle to access appropriate growth capital. Moreover, ADB will help the general partner to further enhance its environmental and social management system (ESMS), having initially guided the prior fund Creador III L.P. develop its ESMS when ADB invested in the fund in 2015.
Linkage to Country/Regional Strategy The proposed investment in Creador IV aligns strongly with operational priorities outlined in ADB's Strategy 2030.10 These include (i) addressing poverty and reducing inequalities by generating quality jobs and achieving better health for all, and (ii) fostering regional cooperation by enhancing connectivity and strengthening finance sector cooperation. Strategy 2030 also supports expanding private sector operations, including expanding regional reach through private equity funds, supporting greater financial inclusion, strengthening the finance sector in capital markets, diversifying into other sectors, and widening geographic coverage.
Safeguard Categories
Environment FI
Involuntary Resettlement FI
Indigenous Peoples FI
Summary of Environmental and Social Aspects
Environmental Aspects The fund's environment and social management system (ESMS) was further enhanced based on the experience from Creador III L.P. and to meet other equity investors requirements while maintaining compliance with ADB's Safeguard Policy Statement. Investments categorized A for environment are excluded from ADB financing. Creador IV L.P will report annually to ADB on ESMS implementation and performance.
Involuntary Resettlement Investees are not expected to have recourse to government expropriation and all transactions in relation to land acquisition are expected to be on a willing buyer-willing seller basis. Investments involving business activities included in the prohibited list and Category A for IR will be excluded from project support using ADB funds.
Indigenous Peoples Business activities of potential fund investees are not expected to adversely or beneficially affect distinct and vulnerable Indigenous Peoples communities. Any investment categorized as A on IP will be excluded from using ADB funds.
Stakeholder Communication, Participation, and Consultation Conduct of stakeholder consultation depends on the potential risk/impact of the proposed investment
Timetable for assistance design, processing and implementation
Concept Clearance 03 Apr 2018
Credit Committee Meeting 22 Aug 2018
Approval 24 Sep 2018
Last PDS Update 06 Aug 2021

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 Access to Information Policy (AIP) 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.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

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
Creador IV, LP: Initial Poverty and Social Analysis Initial Poverty and Social Analysis Sep 2018
Creador IV, L.P.: Report and Recommendation of the President Reports and Recommendations of the President Sep 2018

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

None currently available.


The Access to Information Policy (AIP) 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.

Requests for information may also be directed to the InfoUnit.

Investment disclosure: The subprojects listed below provide a status update of Creador IV portfolio as of October 2020

Investment name Country of investment Sector Background Environment Safeguards Category Involuntary resettlement Safeguards Category Indigenous Peoples Safeguards Category Start Date Exit Date
iValue InfoSolutions India Business Services iValue InfoSolutions is a Valued Added Distributor founded in 2008 (VAD), with a consultative approach to understand and address customer evolving needs around Data, Networking and Application protection and management offerings. iValue has a direct partnership with over 35 Global OEMs and over 700 System Integrators/Partners to provide solutions for its over 6,000 Customers. It has direct market development presence across 13+ locations with customer and channel focused teams addressing sales, pre-sales & post sales requirements across multiple industry verticals. C C C April 2019 -
GHL Systems Berhad ASEAN (primarily Malaysia, Philippines and Thailand) Business Services GHL is a leading payment solutions provider in Southeast Asia, providing integrated end-to-end payment solutions encompassing physical and virtual payments. With a full suite of payment solutions, GHL Systems successfully established a customer base beyond Malaysia, with key operations in the Philippines and Thailand. In February 2014, GHL acquired e-pay Asia Limited (e-pay), another electronic payment service provider servicing mobile prepaid, online games and e-wallet top-ups, as well as bill and content payment. GHL is well positioned to benefit from the secular shift from cash and cheque to electronic payments. C C C February 2020 -
RAM Holdings Berhad Malaysia Financial Services RAM is a leading provider of independent credit ratings, research, training, risk analysis, ESG analytics and bond pricing. It is one of the only 2 credit rating agencies in Malaysia and is the market leader with ~72% market share of credit rating and surveillance fees. C C C July 2019 -
Kogta Financial (India) Ltd India Financial Services Incorporated in 1996, Kogta is an emerging retail non-bank finance company (‘NBFC’) offering finance for used and new vehicles apart from providing small-ticket secured loans to micro and small enterprises. As of September 2019, it had a network of ~105 branches across 8 states and union territories in Central and West India. C C C October 2019 -
Bricolage Holdings Inc (DIY PHP) Philippines Retail MR. D.I.Y Philippines is a regional expansion of MR. D.I.Y Malaysia, which was established in 2005 and currently owns and operates more than 700 stores in Malaysia and Brunei. It is the largest home improvement retailers in Malaysia, selling a variety of products with over 20,000 SKUs across 10 product categories. The 10 product categories are: Household, Hardware, Electrical, Stationery, Sports, Jewelry & Cosmetics, Gifts, Car accessories, Toys C C C July 2018 -
Eco-shop Malaysia Retail Eco shop is one of the largest value retailers in Malaysia, focusing on food & consumable products as well as other low price daily necessities. Established in 2003, Eco shop has more than 100 retail outlets in Malaysia and Singapore, and the company aims to expand regionally across Southeast Asia B C C September 2019 -
PC Jeweller Limited (PC Jeweller) India Retail Established in 2005, PC Jeweller is a Pan-India gold and diamond jewellery retail chain. Jewellery purchase in India is rapidly moving from unorganized stores to large format organized chains driven by contemporary designs and trust factor. PC Jeweller has built a strong brand with focus on quality and customer experience. PC Jeweller also exports handmade gold jewellery and has retailing through an online website. B C C April 2019 June 2019
VRIPL Retail Private Limited (DIY India) India Retail MR. D.I.Y India is a regional expansion of MR. D.I.Y Malaysia, which was established in 2005 and currently owns and operates more than 700 stores in Malaysia and Brunei. It is the largest home improvement retailers in Malaysia, selling a variety of products with over 20,000 SKUs across 10 product categories. The 10 product categories are: Household, Hardware, Electrical, Stationery, Sports, Jewelry & Cosmetics, Gifts, Car accessories, Toys C C C March 2020 -
Shriji Polymers Private Limited India   Shriji is a leading rigid plastic packaging solution provider for the regulated pharma market, a Drug Master File holder for US FDA, Canadian FDA and Chinese FDA. It counts the leading global and Indian regulated generic pharmaceutical manufacturers as its clientele.

The manufacturing facilities are strategically located in the key markets across India, United States of America and China. Shriji’s comprehensive product portfolio includes HDPE Bottles, Polypropylene caps (both Continuous Thread and Child Resistant) and other speciality plastic products like Derma bottles, Tablet applicators, Dosing cards and Self-administered Metered Dosing devices

B C C October 2020 -