The U.S. Agency for International Development (USAID), global growth market investor The Abraaj Group and Pakistan-based asset manager JS Private Equity Management have announced the Pakistan Private Investment Initiative, which will launch two new private equity funds focused solely on investing in Pakistan’s small- and medium-sized enterprises. USAID will provide a seed investment of US$24 million in each of the funds, while The Abraaj Group and JS Private Equity Management have committed to match or exceed these seed investments with financing of their own and with private funds raised from limited partners, bringing the total capital committed to about US$100 million.