DARP SPV Altus Regional Facility

active

 The proposed project is for IFC to set up with Altus Capital Partners Pte. Ltd. (Altus, the general partner) and another strategic investor, the DARP SPV Altus Regional Facility (AltusRF or the Fund), to invest in distressed assets (DAs) in Philippines, Thailand, Indonesia and Vietnam. The total capitalization of the AltusRF is envisioned to be up to US$272.5 million.  The proposed investment is up to US$65 million comprised of US$15 million from IFC, US$25 million from the IFC Emerging Asia Fund (IFC EAF)), and US$25 million from the IFC Financial Institutions Growth Fund (FIG Fund).  The rest of the capital will be raised by Altus’s founders Pavan C. Gidwani and Benjamin C. Sevilla and a potential strategic equity investor (The Project). The Project represents IFC’s continuous effort in strengthening key Southeast Asia countries’ financial system.