Assessing whether our investment in private equity funds from 2004 to 2012 met our development objectives
Between 2004 and 2012, in order to reach a broad range of businesses in emerging markets with the potential to grow, we only invested in private equity funds.
In order to understand the full impact of our fund investments over this period, we commissioned the Harvard Business School to carry out an independent evaluation. The research analysed the extent to which we met official key performance indicators over this period and the financial returns we achieved relative to an external benchmark for financial performance. The evaluation also looked in depth at whether we were able to achieve a set of development impact goals.
The research showed that our fund investments had a strong developmental impact in many ways, particularly by creating jobs and mobilising third-party investment into challenging environments.