Ruth Horowitz Joins IFC Asset Management

Ruth Horowitz has joined IFC Asset Management Co. as chief administrative officer. She previously was a managing director and chief administrative officer of Lehman Brothers’ private equity business.

PRESS RELEASE

Ruth E. Horowitz has been appointed chief administrative officer of IFC Asset Management Company, LLC, a wholly-owned subsidiary of IFC that invests third-party capital in a private equity fund format. IFC AMC offers outside investors the opportunity to benefit from IFC’s expertise in emerging markets and its track record of achieving strong equity returns as well as distinct development impact.

Horowitz will play a key role in managing IFC AMC’s development and growth. She will provide strategic direction, develop potential synergies for IFC AMC-managed funds with existing IFC support and service departments, and manage the company’s infrastructure and back office needs.

Horowitz was formerly managing director and chief administrative officer of Lehman Brothers’ private equity business for nine years and has more than 20 years of experience in investment banking. She is the third member of IFC AMC’s management team to be named. CEO Gavin Wilson and IFC Capitalization Fund Head Marcos Brujis both joined the company on July 1, 2009.

“Ruth has had a remarkably effective track record as a chief administrative officer in a growing private equity business, and I am confident that her efforts and knowledge of the industry will bring extraordinary value to IFC AMC,” said Wilson.

In addition to her work with Lehman’s private equity business, Horowitz also served as a member of Lehman’s Fund of Funds Investment Committee.

Previously, she was a senior vice president in investment banking working on strategy and business planning, a senior vice president and chief administrative officer of its Equity Research department, and a vice president of its Equity Capital Markets and Debt Capital Markets department. Horowitz holds an MBA from Harvard Business School and a BA from Barnard College.

About IFC Asset Management Company
IFC Asset Management Company, LLC is a wholly owned subsidiary of IFC, a member of the World Bank Group. It currently manages the $3 billion IFC Capitalization Fund, designed to protect systemically important emerging-markets banks from the effects of the global financial crisis. It will also manage a new $1 billion private equity fund that will allow national pension funds, sovereign funds, and other sovereign investors from IFC’s shareholder countries to co-invest in IFC transactions in Africa, Latin America, and the Caribbean. AMC also is expected to serve as fund manager for other funds to be developed at a later stage.

About IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $14.5 billion in fiscal 2009, helping play a prominent role in addressing the financial crisis. For more information, visit www.ifc.org.