The Overseas Private Investment Corporation (OPIC) has approved US$360 million in financing for three private equity funds targeting investments in Africa, Indonesia and Russia. OPIC has earmarked up to US$150 million each for African Development Partners II, an African private equity fund managed by Development Partners International, and Elbrus Capital Fund II, a Russia-focused private equity fund managed by Elbrus Capital. African Development Partners II is targeting total commitments of US$500 million, while Elbrus Capital Fund II is targeting equity commitments of US$500 million in addition to the OPIC commitment. OPIC will also commit US$60 million to Falcon House’s Indonesia-focused Falcon House Partners Indonesia Fund I, which is targeting up to US$225 million in total commitments.