Because of CDC’s pivotal role in anchoring and investing at first close in funds in Africa and South Asia, we are able to mobilise third party capital investment to these Funds and this is an express aim of ours.
During 2012, as in previous years, mobilisation was measured by calculating investment by others in funds when CDC had made a legal commitment plus all capital committed at subsequent closings, subject to a tapering factor. Investments in fund closings prior to the one in which CDC participates were not counted.
In 2012, total mobilisation amounted to £252m down, from £511m in 2011. This partly reflects CDC’s new focus on the less developed markets of Africa and South Asia, where third party investors are less willing to commit capital, and partly a smaller total commitment to six funds compared to ten in 2011.