The Overseas Private Investment Corporation, a U.S. federal agency, has hired Brooks Preston as vice president for investment funds. Previously, Preston served as co-managing partner of Virgin Green Fund Emerging Markets.
WASHINGTON–(BUSINESS WIRE)–The Overseas Private Investment Corporation, the U.S. Government’s development finance institution, has appointed Brooks Preston as Vice President for Investment Funds. Mr. Preston will assume responsibility for a department that has committed more than $4.4 billion to dozens of emerging market private equity funds since 1987 making OPIC one of the most influential and innovative investors in emerging markets.
“Brooks Preston’s addition to OPIC’s team of leaders is valuable and important,” said Elizabeth Littlefield, OPIC’s President and CEO. “He brings significant knowledge of emerging market environmental and energy issues amassed during his noteworthy career spanning the private, public and not-for-profit sectors. His experience and perspective will complement our efforts to catalyze private capital for positive development impact around the world.”
Preston’s most recent position was co-managing partner of Virgin Green Fund Emerging Markets, where he helped structure and originate an investment fund focused on sustainability in emerging European markets. Prior to that, he was a principal at Wolfensohn Fund Management, where he contributed to the firm’s low-carbon energy investment strategy.
In his U.S. Government experience, Preston previously worked for the Senate Committee on Agriculture, Nutrition, and Forestry as well as at the U.S. Department of Agriculture, where he was Chief of Staff for the Under Secretary of Natural Resources and Environment.
“With his background in management and industry positions, Brooks will be invaluable at the helm of OPIC’s Investment Funds department as we seek to further extend and expand the department’s impact,” added Littlefield.
OPIC is the U.S. Government’s development finance institution. It mobilizes private capital to help solve critical development challenges and in doing so, advances U.S. foreign policy. Because OPIC works with the U.S. private sector, it helps U.S. businesses gain footholds in emerging markets, catalyzing revenues, jobs and growth opportunities both at home and abroad. OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.
Established as an agency of the U.S. Government in 1971, OPIC operates on a self-sustaining basis at no net cost to American taxpayers. OPIC services are available for new and expanding business enterprises in more than 150 countries worldwide. To date, OPIC has supported more than $200 billion of investment in over 4,000 projects, generated an estimated $76 billion in U.S. exports and supported more than 278,000 American jobs.