IFC to invest $50m in GP Infrastructure Partners
The international Finance Corporation (IFC), a member of the World Bank, has announced it is analyzing an investment of US$50 million in GP Infrastructure Partners L.P.
The 12-year closed-end private equity fund, managed by GP Investimentos, is seeking to raise US$750 million with a first close by April 2015.
The proposed IFC commitment is in the form of equity of up to US$50 million, not to exceed 20% of total capital commitments to the fund. IFC would be supporting the manager in attracting other investors to the fund
The fund manager and general partner will be a Cayman Islands limited liability company. The investment staff will operate out of Sao Paulo, Brazil. IFC will collaborate with the manager to improve the fund's efficiency by co-financing infrastructure projects where IFC's expertise and products can add value.
The fund has plans to make equity investments in 6 to 10 infrastructure projects primarily in Brazil. Specifically the investments may include projects in:
- communication infrastructure;
- energy (including wind, hydro and thermal);
- water and waste; and
- transportation and logistics (ports, car parks and airports).
The fund aims to contribute to the competitiveness of the country by reducing critical infrastructure bottlenecks that limit growth and job creation.
Country news
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