This investment was made when British International Investment was named CDC Group.
We have now exited this investment. This is what we achieved.
Achieved impact
This information will appear shortly
Expected impact
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 information
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Environmental and social summary
A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.
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Environmental and social risk
A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.
Environmental and social summary
Cordiant has a proven commitment to environmental and social management and a limited risk profile.
Reporting and Complaints Mechanism
The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to reportsandcomplaints@bii.co.uk or by mail. See more details on our Reporting and Complaints Mechanism here.
For any other general enquiries contact us at enquiries@bii.co.uk
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Key facts
- Last updated
:
When the last quarterly update of the website database occurred.
- June 2024
- Project number
:
An identifier number shared by investments in the same project.
- D159
- Status
:
The current status of the investment (green flag for active and red flag for exited).
- Exited
- Region
:
The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.
- Rest of the World
- Sector
:
We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.
- Financial services, Generalist, Infrastructure
- Investment type :
- Fund
- Start date :
- April 2013
- End date :
- June 2023
- Amount :
- $50m
- Currency of investment :
- USD
- Fund Manager:
- Cordiant
- Domicile
:
The company or investment fund’s place of incorporation.
- Luxembourg
We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.
For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.
For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.
For direct equity investments, this is the date at which British International Investment exited the investment.
For debt investments, this is the date at which the final debt repayment was made.
For funds, this is the date at which the fund was terminated.
For underlying fund investments, this is the date at which the fund manager exited the investment.
The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.
For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.
The currency in which the investment was made.
- Last updated
Investments made by this fund into companies:
For further information about these companies, visit http://cordiantcap.com/
| Investment name | Country | Region | Sector | Start date | Status |
|---|---|---|---|---|---|
| LOMC | Sri Lanka | South Asia | Financial services | September 2013 | Exited |
| Other Loans – CELF IV | Global | Rest of the World | Generalist | March 2017 | Active |
| SA Taxi II | South Africa | Southern Africa | Infrastructure | October 2014 | Exited |
