TCW/ICICI India Private Equity Fund

completed

Summary Of Project Information (SPI)Project NameIndia-TCW/ICICI India Private Equity FundRegionAsiaSectorProject No008442Projected Board DateAugust 8, 1997Company NameTCW/ICICI Investment Partners, L.L.C.Technical Partner and/or Major Shareholders Trust Company of the West Group Inc. (TCW) Industrial Credit and Investment Corporation of India (ICICI) Project Cost Including proposed IFC investment US$125.0 million, including an IFC equity investment of US$10 million.Location of project and Description of site Indian investee companies located throughout IndiaDescription of Company and Purpose of Project Establishment of a US$125 million offshore closed-end venture capital fund, to be formed as a limited life company based in Mauritius. The Fund will invest in unlisted equity or equity-related securities issued by medium-size, later-stage and some early stage companies in a broad range of industries in India. The Fund will operate for a term of seven years with the option to extend for two one-year periods. The Fund will be administered by a fund management company, TCW/ICICI Investment Partners, L.L.C. also to be based in Mauritius. TDICI (Technology Development and Information Company of India Ltd.), an affiliate of ICICI based in India, will be Investment Adviser to the Manager.Environmental Category and Issues This is a Financial Intermediary (FI) category project. The Fund will be required to undertake an environmental review of eligible investee companies’ operations to ensure consistency with World Bank policies and guidelines and GOI requirements. TCW/ICICI will assign two officers to undertake environmental reviews of investee companies. In addition, TCW/ICICI will provide IFC with an annual environmental monitoring report. Date SPI sent to PIC      July 8, 1997For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384