As private equity managers face their toughest operating environment yet and fundraising slows, development finance institutions (DFIs) have turned out to be “critical” for first-time managers.
“We are stepping up when others are stepping back,” Ralph Keitel, Head of Fund of Funds at Swiss impact specialist responsAbility Investments, told DealStreetAsia in a recent interview. “We have seen significant pools of (DFI) capital coming in that weren’t previously there.”