Reuters – Private equity continues to show signs of life in emerging markets despite drying up in the west, the manager of an emerging fund of funds said, but even in frontier African markets firms and funds are feeling the pinch.
CDC, wholly owned by the British government and investing in private equity mainly in South Asia and Africa, said it would continue to make new deals in spite of the crisis and believed higher growth in emerging markets would continue and deliver greater returns.
CDC currently has net assets of $4 billion, having received its start-up funding from the British government in the 1990s and continually reinvested the proceeds, mainly in locally owned and run private equity funds.
