The Partnership |
Latin America Agribusiness: Distressed Assets Fund, L.P., a Cayman Islands exempted Limited Partnership (the "Fund"). |
Fund Manager |
The GIC Group. |
Advisors |
Sam Dryden—U.S.; Pedro Pablo Kuczynski—US ; Javier Gonzales Fraga—Argentina. |
Local Partners |
Brazil: Banco Sul America; Argentina: Merchant Bankers Associados,SA |
Investment Objectives |
Acquire and manage eligible distressed assets. Upon completion of a restructuring, the Fund will divest itself of the asset(s) and will
liquidate any remaining portions of the original assets. |
Target Region |
Latin America, primarily Argentina and Brazil. |
Target Sectors |
Agribusiness: infrastructure and feed, livestock, food processing, ag-biotech, and food-related industries |
Investment Considerations |
The Fund will acquire and manage eligible distressed/stressed assets. It will seek to protect and
manage its investments and to guide portfolio companies' management. The Fund will target companies with the following characteristics: privately-owned; net asset values of
approximately USD50 million; in financial distress; recognized products and/or brand equity; and high actual or potential export ratio. |
Exit Strategy |
Private placements, strategic sales, flip sales. |
Target Capital |
Minimum first closing: USD 60 Million |
Minimum Commitments |
Minimum investment USD 5 Million; The General Partner, however, reserves the right to accept smaller participations. |
Closing |
2003 |
Fund Term |
3 years (+ up to three one-year period renewals) |
Target IRR |
Minimum 30% |
Capital Gains Distribution |
80% to Limited Partners and 20% to General Partner, as a carried interest, after 10% return to Limited Partners and after the catch-up amount to
the General Partner with respect to its carried interest. |
Management Fee |
2% of Aggregate Capital Commitment per annum for the first three years paid semi-annually in advance, 1.5% per annum thereafter. |
Organizational and Startup Expenses |
|
- No placement fee in connection with the purchase of Partnership Interests.
- Up to a maximum reimbursement of USD500,000 for organizational expenses.
- 50% of investment banking fees will be deductible from future Management Fees. - 100% of
transaction, monitoring and break-up fees will be deductible from future Management Fees. |
|
|
|
