INVITATION TO TENDER: Research on the importance of secondary markets for increasing the pace of private investment in EMDEs
Opportunity to submit a Tender for the Analysis of Secondary market strategies in development finance.
MOBILIST is a flagship FCDO programme, implemented with support from the Governments of Norway and Switzerland, to mobilise large-scale investment flows to emerging markets and developing economies (EMDEs) through public markets.
MOBILIST continues to sponsor an ambitious programme of research to inform and influence market actors, filling knowledge gaps and correcting misperceptions to enhance the volume and efficiency of capital allocated to emerging and frontier markets.
MOBILIST has published a Request for Proposal (RFP) which relates to the Analysis of Secondary market strategies in development finance. The knowledge gap identified for this piece of research relates to the importance of secondary markets for increasing the pace of private investment in EMDEs, and thereby increasing the contributions of private investment towards sustainable development objectives.
Exits from primary investments in private markets, often made by development finance actors or the intermediaries they have invested through, are hindered by thin and illiquid secondary markets and by a lack of information that allows prospective buyers to assess risks and expected returns. Public and private secondary vehicles, such as funds and investment trusts, can help to provide the necessary liquidity to recycle capital from primary investments, reduce average holding periods, and provide optionality to reduce the cost of capital.
The proposed research will review the existing evidence concerning the impact of secondary market vehicles on the functioning of primary markets in both private and public market settings.
The RFP is now live and proposals are due by 5.00 pm EST Time on 17 April 2025.