Cordiant Capital to Manage New Infrastructure Crisis Facility Debt Pool - Unique Arrangement Addresses Emerging Market Infrastructure Liquidity Crisis

Geschrieben am 01-12-2009

Montreal (ots/PRNewswire) -

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Cordiant Capital Inc. ("Cordiant"), a leading manager of emerging
market private sector investments, announced today that it has
signed an agreement to manage the newly created Infrastructure
Crisis Facility Debt Pool ("ICF Debt Pool") launched at the annual
meeting of the World Bank Group in October. Cordiant was chosen
following a competitive selection process involving financial
institutions from around the world.

"New opportunities are arising in emerging markets as a result of
the global liquidity crisis, which has caused a significant vacuum
in the financing of new infrastructure projects," said David
Creighton, President and Chief Executive Officer of Montreal-based
Cordiant. "As manager of the ICF Debt Pool, Cordiant will enable
vital support to promising infrastructure projects in emerging
countries by ensuring they are financed on a timely basis, and on
commercial terms. This role places us in a truly unique position to
access deal flow and bring together public and private money to fund
those projects.

"Cordiant has proven expertise in emerging markets, having funded
and managed 43 infrastructure investments in the past decade, along
with more than 150 company investments. We have been investing
alongside international financial institutions ("IFIs") on
individual transactions since our inception in 1999. Cordiant's
unique relationships with IFIs enable us to benefit from a broad
range of carefully selected deals not otherwise available to private
investors. As manager of the ICF Debt Pool, we will have access to
very attractive, high quality infrastructure investment
opportunities in emerging countries that offer strong financial
returns and are developmentally sustainable," Mr. Creighton

Speaking on behalf of the ICF Debt Pool Board, Chairman Andrew
Bainbridge said: "We are delighted to have selected Cordiant
following a rigorous tendering process. Their commitment to the ICF
Debt Pool has been very clear to the Board and, combined with their
existing emerging markets expertise, gives us great confidence that
we will be able to act at speed to identify and support worthy

Sustainability is a key ingredient in every Cordiant project.
Since inception, Cordiant has integrated environmental, social and
governance screening into its existing investment analysis. Cordiant
is a signatory of the UN Principles for Responsible Investment.

The Infrastructure Crisis Facility directly addresses the
continuing liquidity crisis in emerging market infrastructure
financing caused by the withdrawal of major commercial financial
institutions from emerging markets during the global financial
crisis as they continue to re-focus their lending activities on
their home markets.

Sovereign Development Institutions Participating in the Facility

To date, the Infrastructure Crisis Facility has mobilized over
US$4 billion from international financial and development
institutions. The setting up of the ICF Debt Pool has been supported
by the German Government, which is providing a (euro)700 million
interest subsidy and US$11 million equity participation. Under a
guarantee of the German Government, KfW Entwicklungsbank has set
aside (euro)500 million for the ICF Debt Pool and Proparco, the
French Investment and Promotions Company for Economic Cooperation
has pledged (euro)200 million. KfW's daughter company DEG has
earmarked US$400 million for co-financing opportunities, Proparco
(euro)800 million and the European Investment Bank (EIB) has
committed (euro)1 billion.

In keeping with its primary business of offering emerging market
investments to pension funds, Cordiant will also offer pension fund
investors the opportunity to co-invest alongside the ICF Debt Pool
in individual projects.

Emerging Market Infrastructure Liquidity Crisis

On a global basis, the International Finance Corporation ("IFC"),
the private sector arm of the World Bank Group, estimates that
approximately US$110 billion worth of new infrastructure projects
risk delay or postponement, while US$70 billion worth of existing
projects are facing refinancing. Emerging market infrastructure is
facing long-term financing needs of US$21 trillion over the next 10
years. Private funds and public private partnerships will therefore
continue to play a critical role in financing infrastructure
projects in emerging countries.

The Infrastructure Crisis Facility will provide direct financing
to qualified infrastructure projects in emerging economies, and will
be the catalyst in generating significant co-financing
opportunities. The ICF Debt Pool was conceived by the IFC and
developed on the Private Infrastructure Development Group platform.
This ensures that the ICF Debt Pool is overseen by a commercial and
independent board, operates to the highest standards of corporate
governance and is flexible to the needs of IFIs in facilitating
progress with infrastructure in emerging markets.

Cordiant's Role as Manager

Cordiant will review all investment opportunities proposed to the
ICF Debt Pool by the originating international financial and
development institutions. Building on the work already carried out
by those originating institutions, Cordiant will undertake a
thorough analysis of each project. It will then prepare investment
reviews of infrastructure projects that meet the criteria of the ICF
Debt Pool and present those reviews to an independent board, which
will make the final decision. Once the board approves a project,
Cordiant will negotiate and execute the legal documentation, disburse
funds and manage all aspects of the investment on behalf of the ICF
Debt Pool.

The ICF Debt Pool has already committed to provide financing to
several projects, including SP-SSA International Container Services
(SSIT), a joint venture between Vinalines, Saigon Port and Carrix,
Inc. to develop a modern, efficient deepwater container-handling
facility in Ho Chi Minh City, Vietnam.

"Infrastructure projects are key to the continued growth and
economic development of emerging market countries. Our firm has been
active in emerging markets for the last ten years, on our own and in
partnership with international financial institutions. We have
witnessed first-hand the spirit and resolve that drives these
economies. We are proud to be associated with the Infrastructure
Crisis Facility and to contribute to the role it will play in
ensuring that the momentum these markets have built in recent years
will be maintained," Mr. Creighton concluded.

About Cordiant Capital

Founded in 1999, Cordiant has invested almost US$2 billion on
behalf of some of the world's largest institutional investors. The
firm has made investments in over 150 companies in more than 50
emerging and high growth countries around the world, including a
large number of infrastructure investments. Cordiant pioneered the
creation of emerging market corporate loan funds in partnership with
international financial institutions. Cordiant co-manages one
private equity fund, the Canadian Investment Fund for Africa, and
manages three private debt funds. The firm is a signatory to the UN
Principles for Responsible Investment.

For further information: and to arrange interviews with David
Creighton, President and Chief Executive Officer of Cordiant, or
Bertrand Millot, Chief Investment Officer: Anne-Marie Durand,
NATIONAL Public Relations, +1-514-843-2319

ots Originaltext: Cordiant Capital Inc.
Im Internet recherchierbar: http://www.presseportal.de

For further information: and to arrange interviews with David
Creighton, President and Chief Executive Officer of Cordiant, or
Bertrand Millot, Chief Investment Officer: Anne-Marie Durand,
NATIONAL Public Relations, +1-514-843-2319


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