Project detail - PAPE FUND 3 USD PARTNERSHIP

PAPE FUND 3 USD PARTNERSHIP

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Who is our client

PAPE Fund III is a generalist, SME focused Private Equity Fund being raised by PAPE Fund Managers, a boutique, empowered Private Equity manager based in Johannesburg, South Africa.

Funding objective

FMO has approved a commitment to the Fund of USD 10m given the Inclusive nature of the Fund which targets SMEs in South Africa that have a significant impact on individuals that form part of the Base of the Pyramid.

Why we fund this project

PAPE Fund III targets SMEs with Inclusive elements in South Africa. FMO is highly additional here, facilitating the First Close and thus assisting in the development of an empowered PE manager in South Africa.

Environmental and social rationale

The E&S category is B for PAPE Fund III, in line with the risk profile of the prospective investment. PAPE Fund III's approach to ESG is progressive for a first time DFI GP, as there is strong commitment to ESG and an ESMS is already in place. PAPE Fund III will work further towards fine-tuning the ESMS to bring in fully in line with the IFC Performance Standards and to fully integrate ESG into the operations and management of its investee companies over the life of the Fund.

Region
Africa
Country
South Africa
Sector
Infrastructure, Manufacturing and Services
Signing date
7/11/2018
Total FMO financing
USD 10.00 MLN
Fund
FMO
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B