OPIC Board Approves $135 Million for Two Investment Funds for India
September 25, 2012
(OPIC)
One to invest in SMEs, one in industrial logistics parks
WASHINGTON, D.C. – The Board of Directors of the Overseas Private Investment
Corporation (OPIC), the U.S. Government’s development finance institution,
approved $135 million in financing for two investment funds that will support
small and medium-sized enterprises (SMEs) and industrial logistics parks in
India – two sectors capable of driving economic growth in the country but which
have to date lacked the capital to do so.
The Board approved $35 million for the BanyanTree Growth Capital II fund,
designed to invest in SMEs, particularly in sectors overlooked by investors. The
fund’s strategy is to bring quality management and environmental, social and
governance best practices to targeted SMEs, enabling them to grow into
sustainable businesses. The fund has a target capitalization of $175 million.
OPIC selected as fund manager BanyanTree, founded in 2008.
The Board also approved $100 million for IndoSpace Logistics Parks II, designed
to address India’s significant demand for quality logistics parks by investing
in warehouses, distribution centers, cargo handling facilities and other
infrastructure in order to create more efficient and expansive supply chain
networks, lower logistics costs, and reduce waste. The fund has a target
capitalization of $350 million.
The fund’s investments could generate more than 25,000 local jobs and catalyze
U.S. job creation as well: the vast majority of its target tenants are large
multi-national corporations, including US-based firms.
OPIC selected as fund manager Realterm Everstone, a joint venture between
Realterm Global and Everstone Capital.
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