Ralph Keitel, Head of Fund of Funds, responsAbility Investments

As private equity managers face their toughest operating environment yet and fundraising slows, development finance institutions (DFIs) have turned out to be “critical” for first-time managers.

“We are stepping up when others are stepping back,” Ralph Keitel, Head of Fund of Funds at Swiss impact specialist responsAbility Investments, told DealStreetAsia in a recent interview. “We have seen significant pools of (DFI) capital coming in that weren’t previously there.”