Washington, D.C., June 4 2001—
The International Finance Corporation, in partnership with the Australian-based AMP Private Capital (AMP Henderson) and Indian-based IndAsia Fund Advisors Pvt. Ltd., has invested in AMP-IndAsia India Fund, a closed-end investment Fund, that will promote equity finance for medium-sized Indian companies to finance their expansion and get increased support.
By providing much needed capital to viable, growing companies, the Fund will help to enhance their operating and financial efficiency and develop the local private equity industry. It will also support the growth of strong companies, which will generate important economic benefits, including increased export earnings, tax revenues, and employment.
Ms. Teresa Barger, Director of IFC’s Private Equity and Investment Funds Department, said that, in addition to supporting overall capital markets development, the Fund will make meaningful contributions to the governance, strategic focus, and institutional capacity of the investee companies.
Mr. Sanjiv Kapur, CIO of Private Capital (Asia/Pacific) at AMP Henderson, said that the project offers AMP Henderson an opportunity to improve the private equity industry in India. The Fund will also add value through an activist approach to create growth opportunities and could have a positive demonstration effect.
AMP is Australia’s leading life insurance company and its management business, AMP Henderson, is the largest investment manager in Australia and New Zealand. The AMP Group of companies has an extensive global network which includes offices in the UK, US, Singapore, Japan, the Netherlands, and Luxembourg. The private equity division manages a US$3 billion portfolio that covers infrastructure, natural resources, and private equity. IndAsia Advisors is a financial boutique that provides advisory services to companies in India focusing on corporate mergers and acquisitions, and on structuring, negotiating, and sourcing private equity funding.
The mission of IFC, part of the World Bank Group, is to promote sustainable private sector investment in developing countries as a way to reduce poverty and improve people’s lives. IFC finances private sector investments in the developing world, mobilizes capital in the international financial markets, and provides technical assistance and advice to governments and businesses.
