International Finance Corp., Washington, is making a $1.4 million equity investment in Jordan Investment Trust, an investment company that will undertake investment banking activities in Jordan.
Jordinvest will provide long-term private equity, investing in quoted investments, underwriting and private placement of debt and equity issues, corporate finance activities, privatization and mergers and acquisitions. The company also will advise and encourage private businesses to switch from short-term to long-term funding.
Jordinvest initially will focus on Jordan, but will extend its reach to the Palestinian Territories where possible.
Manchester (Conn.) Retirement Allowance Fund, with about $85 million in assets, picked four finalists in its search for a consultant, said Alan Desmarais, director of finance. The finalists are Segal Advisors, H.C. Wainwright, PaineWebber Managed Account Services and Dean Witter Discover's Institutional Consulting Service. The system will make its pick at its board meeting April 30, Mr. Desmarais said. The fund's current consultant is the Hannah Group.
