Ambitious Regional Project
12/05/2001The IIC makes an equity investment of up to $10 million The Inter-American Investment Corporation (IIC) announced approval of a regional project whereby it will make an equity investment of up to $10 million in Cori Capital Partners Fund, L.P.
Cori Capital Partners seeks to invest in small and medium-size Latin American companies in industries undergoing regional and/or global consolidation; it has a target capitalization of $300 million. Although Cori Capital may invest in any Latin American country, it will strive to further the IIC's goal to extend risk capital investments to countries that are not regarded as the largest economies of the region (which are Argentina, Brazil, and Mexico), and at least 30% of its total capital commitments will target Central America, the Andean nations, and the smaller MERCOSUR countries. Cori Capital Partners is sponsored by Violy, Byorum & Partners Holdings, LLC, a regional leader in mergers and acquisitions; Fenway Capital Partners; and CDPQ Capital International, an affiliate of Caisse de dépôt et placement du Québec.
The IIC's participation in this project is significant because it will provide leadership in financial markets by supporting equity investments. It will also considerably leverage the IIC's resources to support small and medium-size companies and the consolidation of strategic industries for the development of the regional economy.
The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank Group. It provides financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. The IIC's mission is to promote the economic development of its regional borrowing member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size.
Contact: Steven Reed
Telephone: (202) 623-3981