Company name
Wamex Private Equity Management II, L.P.
Project number
ME3898A-01
FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.
E&S category
FI-2
Country
Mexico
Sector
Financial Institutions
Status
In implementation
Disclosed date
09/21/2010
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/26/2010
Approval date
12/07/2010
Signed date
12/15/2010
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 1,500,000
Financing amount
USD $ 1,500,000
Currency
USD
Project scope and objective
Multinational Industrial Fund II ("MIF II" or the "Fund") is a private equity investment fund that will invest primarily in projects supporting family businesses established in Mexico in the industrial and services sectors (for example: education, entertainment, logistics, health, and tourism).
The Fund’s target amount is between US$120 million and US$150 million. To date, MIF II has carried out three closings for US$80 million and is in the initial investment phase with an investment that has been executed and another that has been approved. The principal investors are Mexican pension funds and institutional investors, including Corporación Mexicana de Inversiones de Capital.
IIC participation in MIF II, in the amount of US$3 million, is consistent with the IIC’s strategy of participating in private equity funds that allow it to reach a larger number of sectors and companies than it would through direct investments. In addition, the objective of the IIC is to improve the impact that MIF II has on development by introducing environmental and labor procedures and standards consistent with international guidelines, as well as to measure the impact on the development of the companies in which the Fund invests.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
ENVIRONMENTAL AND SOCIAL REVIEW
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