Sunday, 26 April 2015
Last updated 1 day ago
Jan 16 2008 | 11:35am ET
International Finance Corp., a member of the World Bank Group, is making its first investment in an environmentally-focused private equity fund. IFC’s outlay of up to €15 million (US$22 million) will help the fund, which is managed by Aloe Private Equity, invest in companies in clean and renewable energy, waste recycling, emissions controls and eco-processes.
Aloe manages a number of environment funds and recently raised over €110 million (US$163.5 million) for the Aloe Environment Fund 2, which will invest in companies in both Asia and Europe. The IFC fund will participate will co-invest alongside Aloe 2 but will support companies primarily in India and China. Swedfund, a risk capital company owned by the Swedish government, and Proparco, the private sector financing arm of the French Development Agency, will invest €8 million (US$11.9 million) and €5 million (US$7.4 million), respectively, in the new fund alongside IFC.
“IFC’s investment in Aloe Private Equity’s environment fund is in line with our strategy to support funds that are investing in technologies to combat climate change,” Haydee Celaya, IFC’s director of funds, said. “Aloe Private Equity’s innovative investment strategy will help address some of the major challenges and opportunities for sustainable economic development in Asia’s emerging markets.”
“IFC, with its unique expertise in the clean energy and environment sectors, will be a valuable partner in pursuing our strategy to expand in Asia and will provide tremendous benefits for existing and future portfolio companies,” said Vivek Tandon, a general partner at Aloe Private Equity.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…