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Project Brief - Atlantic Coast Regional Fund (ACRF)
The project involves the participation of the Bank as one of the “Lead Investors” in a Private Equity Fund -the Atlantic Coast Regional Fund (“ACRF” or the “Fund”), to be incorporated in Mauritius as a Limited Life Company (LLC). The Fund will have an initial life of ten (10) years from the final closing date. The Fund will have a five (5) year commitment period. The commitment period will start from the final closing, until the fifth anniversary of the final closing date. The Fund will target profitable, strong growth and expansion companies with export income streams or export potentials preferably with a regional scope. ACRF will consider investments in all sectors including but not limited to: (a) Agro-business & Transportation; (b) Industrial &Manufacturing firms; (c) Financial institutions and; (d) Companies investing in down-stream commercial infrastructure, utilities and others.
Most target companies will be mature and cash-flow generative companies operating in sectors with high entry barriers and/or enjoying market dominance. In addition, target companies will exhibit a proven track record in terms of managerial competence, satisfactory and measurable operational/financial performance and will have solid business plans supporting any applications for financing from the Fund.