Asset Management Services
ICD supplements its own balance sheet by sponsoring / creating private equity funds as well as other special purpose vehicles in order to provide the IDB Group and other investors with access to projects that provide commercial returns as well as meet the developmental needs of member countries
ICD acts as a fund manager and/or general partner with other fund managers to sponsor and create special purpose vehicles along with third party investors including but not limited to IDB and ICD; other Multilateral Agencies; Sovereign Wealth Funds; Government Funding Vehicles and High Net Worth Individuals.
Income Funds and Capital Markets
Targeted at the promotion of Islamic finance and supporting the development and growth of private sector in various Member Countries through the deployment of capital into debt and capital markets.
These trade finance and money market vehicles generate immediate returns to investors, ranging from 3-8%, and paid on quarterly and semiannual basis.
Unit Investment Fund (UIF): This is a US$246.5 million working capital and trade finance fund with an established longstanding track record. UIF is an open-ended fund that is managed internally by ICD.
Money Market Fund (MMF): This is a Shariah compliant open-ended money market fund with an initial target size of US$200 million. MMF, established with a seed commitment of US$50 million from ICD, has been operating for over 18 months with a historical average return of 4.2%.
Small and Medium Enterprises (SME)
Targeted at the development of the SME sector in specific Member Country/Countries through the deployment of mezzanine capital into well-run small and mid size companies.
These are country-specific or region specific mezzanine vehicles generate returns between 8-15% after an investment horizon of about three years.
Saudi SME Fund: launched on September 2013, this is a Shari'ah compliant close-ended fund with a target size of US$267 million (SAR 1 billion.) The fund has already achieved its initial closing at US$106 miilion (SAR400 million.) Modes of finance include Diminishing Musharakah (Quasi-equity), as well as other Shari'ah compliant structures such as Ijarah and Murabaha.
Theemar (Tunisia) SME Fund: launched on November 2012, this is a Shari'ah compliant closed-ended fund with a target size of US$30 million. The fund has already achieved its initial closing at US$15 million. Modes of finance are Musharakah and Diminishing Musharakah (Equity & Quasi-equity).
Targeted at making value-accretive contribution to the development of a specific and critical economic sector in the Member Countries through the deployment of equity and quasi-equity capital into select growth enterprises.
These are sector-specific equity and quasi-equity funds generate returns in the north of 15% after an investment horizon of seven years.
ICD Central Asia Renewable Energy Fund (ICARE Fund): ICARE aims to develop and promote the strategically important renewable energy sector in various Central Asian Member Countries. The fund has already achieved its initial close size of US$50 million, with a target size of US$100 million to be achieved over five years.
ICD Food & Agribusiness Fund: The fund was developed to make a catalytic contribution towards promotion of food security and development of the food and agriculture sector in the Member Countries. ICD, the Principal Sponsor of the fund, has made an anchor commitment of US$35 million. The fund’s target size is US$600 million, out of which US$250 million has already been secured.
ICD Islamic Banks Growth Fund (IBGF): IBGF will be a co-investment vehicle, to invest along-side ICD, in newly and/or existing Islamic Banks in ICD member countries, in order to promote the growth of Islamic Banks in ICD member countries. The fund’s target size is US$300 million, out of which US$100 million has already been secured.