Venture Capital Access Online | The eMarketplace for the Venture Capital Industry

 

Bookmark and Share   

Home

Marketplace
Database
Deals
News
Store
Resources
Contact Us

 

 

 

News

VCPro Database 2014 (17th Edition) Now Available! Newly released


Venture Capital Deals Spreadsheet Now Available Newly released


 

Islamic Development Bank Announces US$2 Billion IDB Infrastructure Fund II

JEDDAH, Saudi Arabia and MANAMA, Bahrain, June 27, 2014-- His Excellency Dr.Ahmad Mohamed Ali, President of the Islamic Development Bank (IDB) Group, announced the launch of the US$2 billion Islamic Development Bank Infrastructure Fund II (the IDB Fund II), on the occasion of the 40th anniversary of the IDB. The IDB Fund II is the largest private equity infrastructure fund dedicated to the 57 member countries of the IDB.

The IDB Fund II is supported by the Public Pension Agency of the Kingdom of Saudi Arabia, the Public Investment Fund of the Kingdom of Saudi Arabia, the Ministry of Finance of the Kingdom ofBahrain and the Ministry of Finance of the Sultanate ofBrunei Darussalam as founding investors, with aggregate commitments totaling US$750 million for the first closing. A final closing with additional investors is targeted for early 2015.

The IDB Fund II is the successor to the US$730 million IDB Infrastructure Fund I (the IDB Fund I), also supported by the founding investors, which achieved an IRR of 18% and an investment multiple of 1.7 times across signature projects such as AirAsia inMalaysia, Saudi International Petrochemical Company (SIPCHEM) in Saudi Arabia and AES Oasis Ltd with power assets in Pakistan, Oman and Jordan.

H.E. Dr. Ahmad Mohamed Ali said "building on the successful track record of IDB Fund I, the IDB and founding investors are nearly tripling the size of the IDB Fund II toUS$2 billion. The fund will mobilise up to US$24 billion of aggregate financing to support the development of key infrastructure projects in IDB member countries."

IDB and the founding investors have established ASMA Capital Partners B.S.C (c), based in the Kingdom of Bahrain, as a multi-fund asset management platform to manage the IDB Fund II. The Chairman of ASMA Capital is the President of the IDB Group, and the Vice Chairman is H.E. Mohammed Al-Kharashi, the Governor of the Public Pension Agency of the Kingdom of Saudi Arabia, H.E. Dato Paduka Haji Bahrin bin Abdullah, Deputy Minister of Finance of the Sultanate of Brunei Darussalam. The other Board Members are Mr. Abdulla Ebrahim Al Ayadhi, Assistant Secretary General of the Public Investment Fund of the Kingdom of Saudi Arabia and Mr. Sami Mohammed Humaid, Director of Foreign Economic Relations of the Ministry of Finance of the Kingdom of Bahrain. The management team is led by the CEO of ASMA Capital, Mumtaz Khan, who previously managed the IDB Fund I.

H.E. Mohammed Al-Kharashi said "ASMA Capital is expected to play a significant role in assisting pension funds and other global investors seeking to deploy capital into infrastructure projects in select emerging markets for portfolio diversification and stable return."

The IDB Fund II will have a broad sectorial focus beyond core infrastructure sectors of power, telecommunications, transportation, and will include investment in oil and gas, refinery and petrochemicals, steel and aluminum, mining, logistics and an allocation for healthcare, education, and financial services.

Mumtaz Khan said "The IDB Fund II is a unique platform combining the strength of IDB and other founding investors with an experienced management team to identify and develop investment opportunities across multiple regions."


News Index

Venture Capital Database

Venture Capital Deals Spreadsheet

 

 NEWS

Latest VC News
VC News Archive
News Search
Venture Capital Deals New
RSS News Feed

List Your Firm

Entrepreneurs
Investors
Advisors

Venture Capital Database

VCPro Database
Download Trial
Buy Now

Venture Capital Deals

vcaDeals
Download Sample
Buy Now

VC Tools

Venture Capital StarterPak
VC Pitch
Private Placement Memorandum
Confidentiality Agreement Package
Series A Preferred Term Sheet
Bridge Financing Contract
Employment Agreements
Understanding Employee Stock Options

Business Plan Tools

Free Business Plan Template
Sample Business Plans
Business Plan Pro

 

 

Copyright 1998-2014 Access InterComm  All rights reserved. 
Site Map | Privacy Statement | Legal Notice & Disclaimer