International Finance Corporation (IFC), the private sector development arm of the World Bank Group, is raising a fund to invest in companies focused on power, transportation, utilities and telecommunications in emerging markets. The IFC Global Infrastructure Fund has raised US$500 million to date from institutional investors, including a US$100 million commitment from IFC and a US$150 million commitment from the State Oil Fund of the Republic of Azerbaijan. The fund will be managed by IFC Asset Management Company, a wholly-owned subsidiary of IFC.