The Overseas Private Investment Corporation (OPIC), the U.S. Government's development finance institution, has announced its 2015 Global Engagement Call for Proposals from fund managers seeking OPIC financing for private equity investment funds.

Through a competitive process open for submissions from May 11 to June 8, OPIC will select funds targeting projects in OPIC-eligible countries for new business development, existing company expansion, restructuring, and/or privatization.

OPIC is targeting proposals from privately-owned and managed funds each with a total capitalization of more than US$100 million. The funds should make investments that will have a positive development impact.

Elizabeth Littlefield, OPIC's President and CEO, stated:

"Private equity funds are essential tools for economic development in emerging markets. They are an effective means for high-potential entrepreneurs to raise equity capital, to drive faster growth, and create more jobs and higher quality businesses. OPIC backs cutting edge funds that can raise significant pools of smart capital and demonstrate that commercial returns and sustainable development go hand in hand."

OPIC is a pioneer in the emerging market private equity field and has been identifying and utilizing development-minded funds since 1987. OPIC uses a competitive and transparent call for proposals process, aided by independent financial advisors, to select the funds it supports.

All fund proposals should include a fund's investment target sectors and countries as well an investment thesis with the fund manager's prior investment experience.