Capital Alliance Private Equity Fund

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Summary Of Project Information (SPI)Project NameNigeria - CapeFund RegionSub-Saharan AfricaSectorProject No009281Projected Board DateSeptember 24, 1999Company NameCapital Alliance Private Equity FundTechnical Partner and/or Major Shareholders The Capital Alliance Private Equity Fund is sponsored by Africa Capital Alliance (ACA) which is also the sponsor of South Africa Capital Growth Fund (SACGF) in which IFC has invested. The fund is expected to have both local and international investors.     Project Cost Including proposed IFC investment Total project cost is estimated at US$30 to US$40 million. The IFC component is US$7.5 million.Location of project and Description of site Nigeria and West Africa.Description of Company and Purpose of Project The project is a new private equity fund, focussed on Nigeria and intended to invest in expansion/replacement capital for companies with significant growth prospects; joint venture investments with foreign companies seeking to establish or re-establish operations in Nigeria; and management buyouts and buyins. The fund will have a two-tier structure consisting of the fund, which will be a 10-year life company, and a separate management company. Environmental Category and Issues This is a Category FI Type 2 project according to IFC’s environmental and social review procedure. The Fund Manager has agreed to undertake an environmental review of each subproject. The Fund Manager has also agreed to participate in environmental training as required by IFC, develop an environmental management system, and provide an annual environmental performance report to IFC. Date SPI sent to InfoShop August 25, 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