CDC appoints direct equity managing director
CDC Group has named Tony Morgan (pictured), formerly a managing director at Canada Pension Plan Investment Board (CPPIB) as a managing director responsible for direct equity.
"I am hugely excited about joining CDC," Morgan said in a statement. "Its direct equity business is expanding; I am delighted to be a part of its future as we invest in responsible and sustainable businesses across Africa and Asia."
Morgan has about 20 years' experience as an equity investor. In addition to CPPIB, he has held senior roles at Permira, Alchemy Partners, and Onex, where he set up the firm's European private equity operations. He will lead a team of more than 100 impact investment professionals.
CDC invests across sectors including financial services, infrastructure, food and agriculture, and real estate. It claims more than 100 businesses in its direct equity portfolio, valued at $1.5 billion. Direct equity deployments typically range between $10 million and $150 million.
The UK government-backed development finance institution is an active investor in South Asia, especially India, where its strategy includes both fund commitments and direct investments. Earlier this year, it made its first direct investments in Nepal and Myanmar.
Recent team development in the region includes the appointment of Stephen Priestley as a managing director focused on South Asia and Africa. Both Priestley and Morgan report directly to Nick O'Donohoe, CDC's London-based CEO.
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