September 11, 2018 / 1:28 PM / 14 days ago

IFC backs Kyrgyzstan's first institutional private equity fund

LONDON, Sept 11 (Reuters) - Bishkek-based Highland Capital has won backing from the World Bank’s International Finance Corporation for its debut fund, the first institutional private equity fund to focus on Kyrgyzstan.

Highland raised an initial $15 million for its Highland Private Equity & Mezzanine Fund, of which $8 million came from the IFC, the largest development institution focused on the private sector in emerging markets, it said.

Highland said it would seek to raise a total of $30 million and expects to hold the final close on the fundraising by August, 2019 and IFC Country Officer Martin Naegele told Reuters he expected several institutional investors to take part. (Reporting by Simon Jessop; editing by Maiya Keidan)

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