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CDC Group appoints managing director

U.K. development finance institution CDC Group PLC named Tony Morgan managing director of direct equity.

He will lead a team of more than 100 impact investment professionals in the firm's direct equity division. Most recently, Morgan was a managing director at Onex Corp.

CDC Group is wholly owned by the U.K. government. It typically invests between $10 million and $150 million in construction and real estate, education, financial services, food and agriculture, health, infrastructure and manufacturing sectors, with a focus on Africa and South Asia.