IFC invests $65m in Altus Capital’s special situations fund

Altus Capital Partners has secured up to $65 million from the International Finance Corporation (IFC) for its special situations fund, Altus Special Situations Asia 1 LP (ASSA I).

In a statement issued yesterday, Altus Capital said IFC and two funds managed by IFC Asset Management Company — IFC Financial Institutions Growth Fund and IFC Emerging Asia Fund — are investing in ASSA I, which seeks to revitalise distressed companies.

“The investment will support distressed companies in East Asia’s emerging markets with financing to ensure they can meet their financial obligations, regain creditworthiness, and preserve jobs, thereby contributing to sustainable growth,” Altus Capital said.

Navojit Dastidar