Summary: THIS IS AN AUDIO-ONLY VERSION OF A VIDEO INTERVIEW FOUND ON PRIVCAP.COM. VIEW THE FULL VIDEO HERE: The International Finance Corporation has been among the most significant backers of private equity funds targeting emerging markets. So how has the IFC been rewarded by way of returns from this investment mandate? “It’s been a great story,” says Umberto Pisoni, Global Portfolio Head in the Private Equity and Investment Funds Department of the IFC. Pisoni says his portfolio has generated a net IRR in the range of 19 percent to 20 percent, and this is mostly due to the performance of first-time managers in underpenetrated markets. In a wide-ranging conversation with Privcap CEO David Snow, Pisoni shares statistical findings from the IFC’s private equity portfolio and discusses why emerging markets performance data has improved, why East Asia and Africa have been strong performers, the extent to which managers themselves are to blame for underperformance, why first-time funds often outperform larger follow-on vehicles, and why the IFC has just backed a fund in Nepal. The program is sponsored by Ernst 8 Young. Registered users of Privcap may access this 11-minute, chaptered video program, full transcript, audio-only version, as well as Privcap’s entire archive of thought-leadership content. Register here – it’s free and quick
