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DAI Acquires International Asset Management Firm MicroVest
Monday 06 December 2021

US-based development company DAI has acquired US-based investment adviser and asset management firm MicroVest Capital Management, a lender to finance institutions, the company said.

DAI said the acquisition will expand the capabilities of its investment management arm, DAI Capital.

Founded in 2003, MicroVest is a registered investment adviser that allocates private investments to financial institutions that serve disadvantaged and underbanked enterprises in emerging markets.

The company has disbursed more than USD 1bn to some 200 financial institutions across 60 countries to help create economic opportunities and facilitate financial inclusion.

Active in more than 100 countries, DAI works with governments, donors, corporations, and philanthropies to deliver integrated development solutions across technical disciplines including economic development, sustainable business, climate change and the environment, governance, gender, and health.

MicroVest, DAI's first acquisition in the asset management space, will enhance DAI Capital's ability to mobilize and deploy private capital in frontier and emerging markets.

The transaction complements DAI's recent acquisition of Magister Advisors, an investment advisor focused on the Africa and MENA region.

As part of DAI Capital, MicroVest will retain its management team and continue to benefit from a leadership of MicroVest Founder, Gil Crawford.

DAI Board member Elizabeth Littlefield, former president and CEO of OPIC (now the Development Finance Corp., or DFC), welcomed the announcement.

Founded in 1970, DAI is a global development company with corporate offices across five continents.
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Date Published: 06/12/2021

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