CDC appoints new managing director

Priestley will lead CDC’s intermediated equity team and its newly formed capital partnerships team. These roles will include responsibility for sourcing, managing, and developing fund investments, as well as directing efforts related to co-investment and various collaborations with financial and strategic partners.

Priestley left Standard Chartered bank in early 2018, where he was the regional head of global banking for Africa, the Middle East, and Pakistan. He was a member of the leadership team for the firm’s corporate and institutional banking business for the combined region, setting strategy and managing day-to-day operations in 24 countries.

“CDC is a well-capitalized thought leader that is both innovative and practical in how it seeks to accomplish its mission,” Priestley said in a statement. “This role will allow me to work with an already accomplished team to explore new ways of engaging with the private sector to promote real social change and development in our markets.”

The UK-based development financial institution has more than $4.7 billion invested across 166 funds and is recognized as one of the largest private equity investors in South Asia. Recent activity includes a $25 million commitment to Aavishkaar Venture Management’s latest India impact fund and a $6 million commitment to a $31 million artificial technology fund managed by India’s Pi Ventures.

CDC demonstrated its broad interpretation of South Asia last year with a $10 million commitment to Anthem Asia’s recently launched Myanmar fund. CDC said it had been closely tracking Myanmar’s private equity ecosystem for the prior four years and made its first investment in the country with Delta Capital’s second fund in 2017.

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