IFC Targets $1B Emerging Market Fund-Of-Funds

The International Finance Corporation (IFC) is seeking to raise US$750 million to US$1 billion for a global emerging market fund-of-funds to invest in private equity funds in the emerging market space.

The fund, named IFC Global Emerging Markets Fund, will make equity investment of up to US$150 million within required total capital commitments, according to a disclosure document posted on IFC’s website.

It will support at least 20 to 25 private equity and venture capital funds, and will allocate 80% of its capital in a diversified set of new equity funds.

The vehicle will also be allowed to deploy 20% of its capital to make direct investment into enterprises, and acquire stakes from past investment funds that IFC backed in the emerging market space previously.

The fund will be managed by IFC’s wholly-owned subsidiary, IFC Asset Management Company (AMC). Headquartered in Washington D.C., AMC currently manages over US$6 billion in assets.

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