The inaugural OPIC Impact Awards are less than a week away and we are getting excited to honor winners in six award categories, including Renewable Resources, Critical Infrastructure, Access to Finance, Development Impact, Private Equity and American Small Business. This post, our fifth in a series, spotlights Private Equity.
One of the ways OPIC supports development is by supporting privately-owned and managed investment funds that invest in emerging markets. These funds help emerging market economies to access long-term growth capital, management skills, and financial expertise, all of which are key factors in expanding economic development for people in developing nations.
Since 1987, OPIC has committed $4.4 billion to 63 private equity funds in emerging markets. These funds in turn have invested $5.6 billion in more than 570 privately-owned and managed companies across 65 countries. These funds are making direct equity and equity-related investments in new, expanding or privatizing emerging market companies. OPIC has invested in multiple funds of our Private Equity award honoree and has seen their funds and portfolio grow rapidly over the past few years.
Each of our awardees was selected through a rigorous process in which we considered each project’s focus in priority sectors or regions, innovation in overcoming difficulties, quality of results, risk mitigation practice, development impact, and other factors, such as serving as a model in project development and execution.