OPIC Commits $53M To New North African Fund

Law360, New York (December 12, 2011, 12:58 PM EST) -- The Overseas Private Investment Corporation, the U.S. government's development funding body, has pledged $52.5 million to a new private equity fund in North Africa that is expected to spur up to $210 million of sorely needed investment in the region, the agency said Monday.

The fund, managed by the North African-based TunInvest-AfricInvest Group, will target small and medium-sized high-growth companies across the Maghreb to spur job creation, spark trade among the region's isolated national economies and support the political change that swept the region last year,...
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