OPIC Commits $88M To Canadian Fund Of Funds

Law360, New York (May 15, 2012, 6:06 PM EDT) -- The Overseas Private Investment Corp., the U.S. government's development finance institution, has committed $87.5 million in financing to the first fund of funds in the agency's portfolio, OPIC said Monday.

The agency said it had green-lighted the funding for Sarona Frontier Market Fund 2 LP, an emerging-markets fund that targets small and medium-sized businesses in order to generate market-based returns.

The fund is managed by Sarona Asset Management Inc., an Ontario-based firm that recently spun off from Pennsylvania nonprofit corporation Mennonite Economic Development Associates Inc., OPIC...
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