OPIC Commits $33M To Clean-Tech Private Equity Fund

Oct 4 2007 | 6:08am ET

The Overseas Private Investment Corp. has committed $33 million to a new private equity fund investing in environmentally-friendly technology companies in the Middle East and North Africa.

The Catalyst Private Equity Fund focuses on small- and medium-sized companies in the water treatment and alternative energy technology industries in Jordan, Lebanon, Egypt, the West Bank and other countries in the region. It has a target capitalization of $100 million.

Robert Mosbacher, OPIC’s CEO, said the fund should foster economic diversification in the region, by focusing on companies that are currently undercapitalized. “The mission of the fund is to become a catalyst for the creation of globally competitive technology and product sectors in the MENA region, and to generate competitive returns through the establishment of industrial, energy and water technology and product firms,” he said. “Investments in companies that serve these sectors will increase efficiencies in the market, ultimately leading to lower prices for suppliers and consumers.”

OPIC was established as an agency of the U.S. government in 1971 and helps U.S. businesses invest overseas, fosters economic development in new and emerging markets.


In Depth

Fund Manager's Disease: Common Symptoms and Proposed Remedies

May 3 2016 | 6:11pm ET

The cadre of 25 research analysts at Murano Systems speaks with more than 150 investors...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...