Asia Opportunity Fund L.P.

completed

Summary Of Project Information (SPI)Project NameAsia Region - Asia Opportunity Co-Investment Fund, L.P (AOCF)RegionAsiaSectorProject No009520Projected Board DateMarch 4, 1999Company NameAsia Opportunity Co-Investment Fund, L.P.Technical Partner and/or Major Shareholders Chase Capital PartnersProject Cost Including proposed IFC investment US$750 MM     Location of project and Description of siteThe Fund will invest in Asian countries, primarily Korea, Thailand, Indonesia, Malaysia, and the Philippines. Chase Capital Partners will have a core team based in Hong Kong. In addition, the fund manager may either establish additional offices in some of the focus countries as its investment program develops, or enter into arrangements with institutions in these markets to obtain local expertise.     Description of Company and Purpose of ProjectThe Asia Opportunity Co-Investment Fund, set up as US$750 MM restructuring fund, will play a leading role in recapitalizing and restructuring Asian companies affected by the Asian crisis. The Fund is expected to have a life of 10 years. The Fund will invest in the equity and quasi-equity securities of both listed and unlisted companies. It will follow an active investment style, taking either majority stakes or influential minority stakes. In the initial period, the Fund is expected to be involved primarily in restructuring relatively good companies with a weak financial condition, or in acquiring businesses spun-off by conglomerates. The Fund is expected to have a significant demonstration effect both in terms of attracting other similar vehicles to Asia as well as bringing international restructuring techniques into Asia.IFC proposes to make the following investments:(i) US$100 MM in the Fund (Project No. 9520);(ii) An amount not exceeding US$200,000 to obtain a 10% equity stake in the fund management company, Chase Asia Equity Partners, L.P. (CAEP) (Project No. 9521);(iii) a US$100 MM Asian Debt Facility (ADF) that would provide debt finance to selected portfolio companies of the Fund, to be made on the basis of delegated authority to IFC management (Project No. 9431); and,(iv) an Asian Co-investment Equity Facility (ACEF) of US$50 MM, to invest in the equity/quasi-equity of selected portfolio companies of the Fund on a co-investment basis, to be made on the basis of delegated authority to IFC management (Project No. 9522).Environmental Category and IssuesThis is an FI Tier 2 project. The Fund Manager will be required to undertake an environmental review of each subproject.The is from the InfoShop.Date SPI sent to InfoShop      February 2, 1999“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384