(June 12, 2014) — The International Finance Corporation’s (IFC) private equity chief David Wilton has quit the group.
Wilton, the CIO of global private equity at the World Bank affiliate, handed in his notice earlier this week and will step down on July 9, a spokesperson confirmed.
Wilton led the organization’s private equity arm for the last 14 years, helping build out its portfolio from inception to more than $4 billion in about 200 funds globally. He was also responsible for the IFC’s investment program of around $500 million per year in 20 to 25 emerging market funds and managed more than 30 staffers.
The IFC’s spokesperson told aiCIO Wilton was “retiring” from the organization, but could not comment on his future plans. Fortune reported he may be headed to Morgan Stanley.
“We will move quickly to look for a replacement, but [it’s] too early to speak of the process yet,” the spokesperson said.
“Emerging markets private equity is a critical part of IFC’s strategy, as it transfers both capital and expertise to fast-growing [small and medium enterprises] that create much needed jobs,” the spokesperson added.
Prior to his role at IFC, Wilton worked in the World Bank Pension Fund where he was responsible for bringing the private equity and real estate portfolios in-house. He also served as acting CEO of the IFC Asset Management Company.
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