In 2013, CDC invested $50 million into CELF IV to provide much-needed loan finance to private sector projects and businesses in Africa and South Asia.
Lending done by local banks to businesses in developing countries is often too short-term to be effective. CELF IV is seeking to fill the gap left by the withdrawal of western banks in emerging markets and will provide scarce, long-term debt funding to firms in these areas.
It will focus on providing debt finance to projects, companies and banks across a wide range of sectors, usually in the form of senior, secured loans. This will help to stimulate wider business activity and economic growth.
Our commitment has also helped Cordiant Capital raise $250 million for CELF IV from Canadian, Danish, Dutch, Swiss and Central and Eastern European institutional investors.
Environmental and social aspects
Cordiant has a proven commitment to environmental and social (E&S) management and a limited risk profile.
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- Rest of the World
For funds, the countries listed here are those the fund has invested in so far.
- Argentina, Azerbaijan, Brazil, Colombia, Kazakhstan, Mexico, Panama, Paraguay, Turkey
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people. For funds, the sectors listed here are those the fund has invested in so far.
- Communications and IT Services, Financial services, Food and agriculture, Infrastructure, Manufacturing, Others
- Investment type
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund manager:
- Start date
For direct investments, this is the date CDC committed capital to the business or project.
For funds, this is the date that CDC committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- April 2013
For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that CDC has committed to the fund.
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
Investments made by this fund
|Investment name||Country||Region||Sector||Start date||Status|
| Bahia Cellulose II|
Bahia Cellulose, based in Brazil, is a large producer of cellulose.
|Brazil||Rest of the World||Manufacturing||September 2013||Exited|
| Kegoc 2013|
KEGOC is the Kazakhstan state-owned entity responsible for owning and operating the Kazakhstan transmission network, administering the dispatch of generation and operating the system’s balancing services
|Kazakhstan||Rest of the World||Infrastructure||September 2013||Exited|
LOMC is a NBFI involved in three distinct lines of business in Sri Lanka: micro leasing, microfinance, and gold backed lending
|Sri Lanka||South Asia||Financial services||September 2013||Exited|
| TBC Leasing|
TBC Leasing was established in 2003 and has over 450 clients across Georgia. The list of TBCL clients includes medical, printing, transportation companies, the food and processing industry as well as some agricultural companies in Georgia.
|Georgia||Rest of the World||Financial services||December 2013||Active|
|Bunge Trade Finance||Brazil||Rest of the World||Food and agriculture||March 2014||Exited|
|ICE 2013||Costa Rica||Rest of the World||Communications and IT Services||March 2014||Exited|
|Libertador Oil/Pardaliservices||Brazil||Rest of the World||Others||March 2014||Exited|
| SA Taxi II|
SA Taxi II provides financing to South African minibus operators through asset-based loans. It is an enabler of affordable and safe transport to over 14 million South African commuters.
|South Africa||Africa, Southern Africa||Manufacturing||October 2014||Active|
|Eurus||Mexico||Rest of the World||Infrastructure||March 2015||Exited|
|Fiagril||Brazil||Rest of the World||Food and agriculture||September 2015||Exited|
| Karadeniz Powerships|
Karadeniz Powerships is part of the energy wing of Turkey-based Karadeniz Holding. The powership is expected to generate approximate 225MW of electricity to augment Ghana's energy needs.
|Ghana||Africa, West Africa||Infrastructure||March 2016||Active|
|Agrop||Paraguay||Rest of the World||Food and agriculture||September 2016||Exited|