Public markets and the future of development finance: a conversation with Leslie Maasdorp
How do public markets fit into the next era of development finance? PMC Chair Cameron Khosrowshahi sat down with Leslie Maasdorp, CEO of British International Investment, for a wide-ranging conversation exploring exactly that.
Earlier this year, Leslie joined the PMC Roundtable, held on the margins of the World Bank Spring Meetings, for a session on local public capital markets development in Africa — examining what it will take for development finance institutions to expand the supply of listed assets and attract greater local institutional investment into public markets.
Leslie argues that public markets are one part of a broader continuum of interventions: building ecosystems, creating investable conditions, backing individual companies, developing functioning local markets, and ultimately creating exit opportunities — including through IPOs.
The conversation also covers:
The need to build more efficient financial systems and local capital markets in emerging economies
Why the era of bespoke, one-off DFI transactions is ending, and what standardised asset classes could look like instead
How fragmented origination across DFIs is holding back scale, and what better coordination could unlock
Why capital recycling is becoming existential for DFIs — and the culture shift that demands
Watch the full conversation below:
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