Actis

Purpose

Actis promotes and manages private equity funds for investment in Africa, Latin America, China, India and South and South East Asia. Its principal activity is fund management on behalf of third party investors.

Legal Status and Ownership

Actis was established in July 2004 as a spin out from CDC. Actis is a limited liability partnership, owned 60% by its partners and an employee share trust, and 40% by the Secretary of State for International Development. The Government has an 80% economic interest until 2013 and 40% thereafter.

Objectives

Government’s objectives for the business are for it to mobilise and invest private and other third party capital to generate attractive returns for investors in a responsible manner so as to maximise the creation and long-term growth of viable businesses in developing countries.

Financial Performance

[1]

Notes:

1. Actis’s year end is 31 December.  It reports in USD
2. Profit or loss for the year is allocated in accordance with the Members’ Agreement
3. Net operating assets are calculated as total assets minus current liabilities, before deducting cash balance
   
   

Dividend policy

Government’s shareholding entitles it to 80% of distributable profits of the business through to 2013 after relevant deductions under the Members’ Agreement, although there have been no residual profits available for distribution to DFID since Actis was created.

Performance targets

Under the Members’ Agreement, DFID does not take part in the day-to-day operations of Actis. The performance targets for the business are determined by Actis’s management in consultation with its Board. These are based on the Actis’s strategic objectives and include fund raising and fund management returns.

Shareholder Executive contact:  Mark Russell and Roger Lowe

• Print this page