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OPIC launches ‘global call’ for emerging market private equity managers

The Overseas Private Investment Corporation (OPIC), the US government’s development finance institution, is calling for proposals to support qualified private equity investment funds in emerging markets worldwide.

OPIC will consider providing between USD35m and USD150m in capital to each of one or more selected funds, which will represent generally no more than 33 per cent of a fund’s total capitalisation. The balance of each selected fund’s capital will be raised from private investors, international finance institutions and other interested parties.
 
This Global Engagement Call is inviting proposals from private equity fund managers seeking OPIC financing for funds that plan to invest in emerging market countries that are eligible for OPIC support. Fund managers investing in infrastructure and infrastructure-related sectors within sub-Saharan Africa, including energy and energy-related services, will receive additional consideration. Deadline for the submission of proposals is 2 December 2013.
 
“The Global Engagement Call is one of the tools OPIC uses to support sustainable economic development in less developed countries,” says OPIC president and chief executive Elizabeth Littlefield. “The focus on infrastructure and energy is an important component of OPIC’s support for President Obama’s Power Africa initiative, aimed at doubling access to power on the continent.”
 
OPIC has engaged TorreyCove Capital Partners, an alternative investment advisor, to assist in evaluating proposals received in response to call.

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