Actis

Manages $4.8 billion in funds, focused exclusively on emerging markets. Formed as a spin-off from the Commonwealth Development Corporation (UK) in 2004, the British-government fund devoted to investment in emerging markets. This move generated major controversy, as "a 60 per cent stake was sold to CDC managers and staff for a total of £373,000" - while it was estimated in 2007 by the House of Commons Public Accounts Committee to be worth between £182m and £535m. (Guardian, 11/25/07)