Washington, D.C., May 13, 2009—IFC,
a member of the World Bank Group, and the Emerging Markets Private Equity
Association (EMPEA) are jointly hosting a two-day global conference that
brings together more than 600 private equity fund managers and investors.
The Global Private Equity Conference
highlights investors’ interest in an asset class that promotes investment
in businesses, supports strong growth, and spurs job creation. It also
underscores the World Bank Group’s desire to establish major new means
of financial intermediation for developing countries.
"We want to be a platform that
helps connect new pools of capital to equity and other long-term investments
in developing markets, to create productivity, growth, jobs, and hope,"
said World Bank Group President Robert B. Zoellick. "By expanding
the concept of development, we can enlarge markets and opportunity."
Institutional investors continue to
view emerging markets as attractive for private equity investment, according
to a recent survey conducted by EMPEA and Coller Capital. The survey found
that more than three-quarters of limited partners that have already invested
in these markets plan to commit additional capital to new fund managers
and geographies over the next two years.
“Investors recognize that emerging
economies are the only ones still growing, and they also know that since
private equity deals in emerging markets don’t rely on debt, the collapse
of the global leveraged finance markets doesn’t impede deal flow,” said
Sarah Alexander, President of EMPEA. “The more than 100 institutional
investors attending this event are testament to the fact that interest
Lars Thunell, IFC Executive Vice President
and CEO, said: “Supporting the growth of the private sector is an important
way to create jobs and opportunities for people in developing countries
to escape poverty. IFC sees great potential for private equity to contribute
to the development of emerging markets while generating good returns for
IFC, a member of the World Bank Group, creates opportunity for people to
escape poverty and improve their lives. We foster sustainable economic
growth in developing countries by supporting private sector development,
mobilizing private capital, and providing advisory and risk mitigation
services to businesses and governments. Our new investments totaled $16.2
billion in fiscal 2008, a 34 percent increase over the previous year. For
more information, visit www.ifc.org.
About the Emerging Markets Private
EMPEA is an independent, member-based
global industry association that promotes greater understanding of and
a more favorable climate for private equity and venture-capital investing
in the emerging markets of Africa, Asia, Central and Eastern Europe and
Russia, Latin America, and the Middle East. Its members represent more
than 50 countries and nearly $500 billion in assets under management. EMPEA
was founded in 2004 with the belief that private equity can be a critical
driver of economic growth in emerging markets while simultaneously generating
strong returns for investors. Results of the EMPEA/Coller survey are available