IFC Capitalization (Sub Debt) Fund

IFC Capitalization (Sub Debt) Fund makes subordinated loans to systemic banks in developing countries


Fund facts

Size (US)$1.725 billion Vintage Year 2009 SectorBanks RegionGlobal Emerging Markets

IFC Capitalization (Sub Debt) Fund makes subordinated loans to systemic banks in developing countries

Investment Approach: 
IFC CAP Sub-debt Fund
Fund Family: 
show on page: 
Yes
Size: 
$1.725 billion
Region: 
Global Emerging Markets
Sectors: 
Banks
Vintage Year: 
2009
Back Ground Image: 

Fund team

Timothy M. Krause

Co-Head

Timothy M. Krause

Co-Head, Financial Institutions Group Funds

Prior to joining IFC, Tim was an international economist with the US Treasury Department. He has more than 25 years of experience investing in emerging markets and specializes in financial sector investments.

 

Tim is a Certified Public Accountant and holds a BBA from the University of Notre Dame, and an MA in International Economics from the Johns Hopkins School of Advanced International Studies.

Jun Nitta

Co-Head

Jun Nitta

Co-Head, Financial Institutions Group Funds

Jun joined AMC in 2010 as a Senior Associate with the IFC Capitalization Fund. Previously, Jun was a Vice President in the Investment Banking Division at JPMorgan in Tokyo and an Investment Officer in the Global Financial Markets Department of IFC. Jun also worked in the Investment Banking Division at Deutsche Bank and at the Bank of Tokyo-Mitsubishi UFJ.

 

Jun holds a BA in Political Science from Waseda University and an MBA from the Wharton School, University of Pennsylvania. 

George Ombima

Head, Africa Capitalization Fund

George Ombima

Head, Africa Capitalization Fund, Africa Capitalization Fund

Before joining the AMC in 2009, George was an IFC Principal Investment Officer covering financial institutions, industrials and infrastructure in Africa, Asia, Latin America, the Caribbean, and the former Soviet Union. Earlier, he held senior corporate finance positions with the East African affiliates of Hoechst AG, Williams Holdings plc, and UB Group, focusing on corporate acquisitions and divestitures.

 

George holds a BEd from the University of Nairobi, a CPA from Strathmore University, and an MBA (Thomas Jefferson Fellow) from the Wharton School, University of Pennsylvania.

Nikolaos Vasilatos

Head, Women Entrepreneurs Debt Fund

Nikolaos Vasilatos

Head, Women Entrepreneurs Debt Fund, Financial Institutions Group Funds

Nikolaos joined AMC in 2012 as part of the IFC Capitalization Fund team. Prior to joining AMC, Nikolaos was a Principal at DLJ Merchant Banking Partners, a Vice President at Credit Suisse’s Mergers & Acquisitions Group, and an Associate at Lazard Freres’s M&A group in New York.

 

Nikolaos holds a BSc in Economics with Honors from the University of Athens and an MBA from Harvard Business School. 

Etleva Koka

Principal

Etleva Koka

Principal, Financial Institutions Group Funds

Etleva joined AMC in 2011 as a Senior Associate with the ALAC Fund and was promoted to Principal in 2013. Prior to joining AMC, Etleva was a Senior Investment Officer in IFC’s Global Financial Markets Department, and also worked at Deloitte and a German textile company.

 

Etleva holds a BA of Business Administration and an MSc in Economics from Eastern Mediterranean University, Cyprus, and an MBA from Case Western Reserve University. 

Ioannis Mergos

Senior Investment Manager

Ioannis Mergos

Senior Investment Manager, Financial Institutions Group Funds

Ioannis joined AMC in 2013 as part of the IFC Capitalization Fund team. Prior to joining AMC, Ioannis was a Strategy Manager for GlaxoSmithKline, and a management consultant with The Boston Consulting Group.

 

Ioannis holds a BSc in Economic Theory from the Athens University of Economics and Business, an MBA from INSEAD, and an MPhil in Economics from the University of Oxford. 

Kariuki Thande

Senior Investment Manager

Kariuki Thande

Senior Investment Manager, Financial Institutions Group Funds

Kariuki joined AMC in October 2015 as a Senior Investment Manager. Prior to joining AMC, Kariuki worked with IFC for seven years in Nairobi, Kenya as a Senior Investment Officer covering financial markets in the East Africa region.  Previously, Kariuki was the General Manager of CBA Capital, the investment banking business subsidiary of Commercial Bank of Africa in Kenya.

 

Kariuki has a BBA from the University of New Brunswick, Canada and is a CFA Charter holder.

Daire  Reid

Investment Manager

Daire  Reid

Investment Manager, Financial Institutions Group Funds

Dáire joined the IFC Asset Management Company in 2013 as an Associate with the Global Capitalization Funds. Prior to joining AMC, Dáire was an Associate in Credit Suisse’s Equity Research Department, where he covered EMEA emerging market financial stocks. He started his career at Deutsche Bank in London, where he was an Analyst in the FIG M&A team.

 

Dáire holds a BA in Economics and Russian from the University of Nottingham and an MBA from INSEAD. 

Taeho Kang

Senior Investment Manager

Taeho Kang

Senior Investment Manager, Financial Institutions Group Funds

Taeho joined AMC in 2015, having previously worked at IFC as an Associate Investment Officer. Prior to IFC, Taeho was an Associate in Morgan Stanley’s investment banking team in Korea, where he worked on M&A and IPO transactions, including numerous transactions in the financial institutions sector.

 

Taeho holds a BA in Business Administration from Yonsei University and an MBA from the Wharton School, University of Pennsylvania. 

Babita Shreshta

Program Assistant

Babita Shreshta

Program Assistant, Financial Institutions Group Funds

Babita joined AMC in January 2011. Babita joined IFC in April 1995 where she worked at the front office of the Sub-Saharan Africa department. In December 1995 she moved to the Central Asia, Middle East and North Africa department and from there to the Southern Europe & Central Asia (SECA) Department. During this time she provided assistance to the Directors office and was the back-up for the SECA HR Officer. In July 2002, Babita moved to Global Financial Markets where she provided administrative and secretarial support to the Associate Director, Global Financial Markets-Portfolio & Equity Team.

 

Babita holds a degree in Intermediate of Arts and Psychology.

Portfolio

Investment Sector Country Status Investment Date
ACLEDA Bank Plc Banking Cambodia Current March, 2017
Ahli United Bank B.S.C. Banking Bahrain Current March, 2011
Banca Transilvania S.A. Banking Romania Current May, 2014
Banco BHD, S.A. Banking Dominican Republic Current November, 2012
Banco CorpBanca Banking Chile Current October, 2012
Banco Davivienda S.A. Banking Colombia Current July, 2014
Banco de Finanzas, S.A. Nicaragua Banking Nicaragua Current April, 2014
Banco Financiera Comercial Hondureña, S.A. Banking Honduras Current June, 2011
Banco G&T Continental S.A. Banking Guatemala Current December, 2012
Banco Interamericano De Finanzas, S.A. Banking Peru Current June, 2014
Bank Audi SAL Banking Lebanon Current March, 2014
Bank Muscat SAOG Banking Oman Current December, 2011
Bank of Georgia Banking Georgia Current December, 2013
Commercial Bank of Ceylon PLC Banking Sri Lanka Current February, 2013
Ecobank Transnational Inc. Banking Africa Current July, 2012
FirstRand Bank, Ltd. Banking South Africa Current April, 2014
Khan Bank LLC Banking Mongolia Current October, 2013
Vietnam Joint Stock Commercial Bank for Industry and Trade Banking Vietnam Current January, 2011
XacBank LLC Banking Mongolia Current July, 2016

Company

Sector

Banking

Country

Cambodia

Status

Current

Investment Date

March, 2017

Sector

Banking

Country

Bahrain

Status

Current

Investment Date

March, 2011

Sector

Banking

Country

Romania

Status

Current

Investment Date

May, 2014

Sector

Banking

Country

Dominican Republic

Status

Current

Investment Date

November, 2012

Sector

Banking

Country

Chile

Status

Current

Investment Date

October, 2012

Sector

Banking

Country

Colombia

Status

Current

Investment Date

July, 2014

Sector

Banking

Country

Nicaragua

Status

Current

Investment Date

April, 2014

Sector

Banking

Country

Honduras

Status

Current

Investment Date

June, 2011

Sector

Banking

Country

Guatemala

Status

Current

Investment Date

December, 2012

Sector

Banking

Country

Peru

Status

Current

Investment Date

June, 2014

Sector

Banking

Country

Lebanon

Status

Current

Investment Date

March, 2014

Sector

Banking

Country

Oman

Status

Current

Investment Date

December, 2011

Sector

Banking

Country

Georgia

Status

Current

Investment Date

December, 2013

Sector

Banking

Country

Sri Lanka

Status

Current

Investment Date

February, 2013

Sector

Banking

Country

Africa

Status

Current

Investment Date

July, 2012

Sector

Banking

Country

South Africa

Status

Current

Investment Date

April, 2014

Sector

Banking

Country

Mongolia

Status

Current

Investment Date

October, 2013

Sector

Banking

Country

Vietnam

Status

Current

Investment Date

January, 2011

Sector

Banking

Country

Mongolia

Status

Current

Investment Date

July, 2016