CDC Commits $650M To EM Private Equity Fund

May 23 2008 | 2:00am ET

CDC Group, the U.K. government-backed private equity emerging markets fund of funds, has committed US$650 million to Actis’ third series of funds for investment across emerging markets.

Actis’ Actis Emerging Markets 3 comprises of a global fund and four regional investment pools targeted at Africa, South Asia, China and Latin America.

The firm was formed following a demerger from CDC in July 2004 when it assumed all direct investment activity and operations previously overseen by CDC. Actis now has over US$3.5bn funds under management and over 100 professionals located in 14 offices.
“We believe there remain considerable investment opportunities across emerging markets, particularly at a time when they are not experiencing such a significant credit squeeze as Western economies,” Richard Laing, CEO of CDC, said.

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