New $60bn US development finance institution arriving soon
The USA is creating a new International Development Finance Corporation with streamlined capacity for investment and doubling the investment cap to $60bn. IDFC will replace the Overseas Private Investment Corporation and draw together several other US investment initiatives.
DPI private equity fund raises $400m
A leading African private equity house Development Partners International (DPI) has reached the first close of its second pan-African African Development Partners II (ADP II) fund at over $400 million.
Botswana’s rise as world diamond centre – Stanchart “money laundering” woes slow P1.8bn OPIC financing
De Beers’ Diamond Trading Corporation has moved from London to Botswana and some 32m carats of diamonds (worth US$6 billion – about 40% of world diamond sales) will be aggregated and sold in Botswana. OPIC financing of P1.8bn is being held up by relations with Stanchart.
OPIC invests $285m in 6 impact investing funds
U.S. development finance institution, the Overseas Private Investment Corporation (OPIC), is to invest up to $285 million in financing to private equity funds. These in turn should raise more than $875m, representing the largest commitment by the U.S. Government to impact investing in emerging markets.