The USD 8.6 billion government agency is looking to make at least USD 400 million in commitments to funds focusing on investments in new business development, existing company expansion, restructuring or privatization of companies in emerging markets in Asia, Latin America, Central and Eastern Europe, Africa and the Middle East. It plans to commit between USD 35 million and USD 150 million per fund. OPIC is particularly interested in growth funds but it will consider other fund types including buyout, mezzanine, expansion, special situations and fund of funds vehicles.
OPIC will consider funds with a total minimum size of USD 100 million and will generally contribute a maximum of 33% of the total amount of the fund, though it is possible that this could vary. OPIC may also announce between now and December 23 geographical areas or industry sectors that would fit particularly well with the portfolio’s needs and objectives.
Altius Associates, the agency’s private equity investment consultant, will be giving advice on the selection of funds and proposals are due by January 12, 2012.
OPIC is one of 3,704 LPs currently tracked by Preqin and with approximately USD 3 billion currently allocated to private equity, it has the second largest allocation to the asset class of all of the 105 government agencies currently tracked on Investor Intelligence.