Marlene (Carvajal) Hormes has over 25 years of experience managing multi-asset portfolios across private equity, mezzanine, and debt in Africa, Latin America, and the United States. She currently serves as Chair of the Investment Committee for the African Development Bank's $1.5 billion Private Sector Enhancement Facility (PSF), providing technical oversight for the financing of private sector projects across Africa.

Previously, Marlene served as Chief Investment Officer at WaterEquity, an asset manager that has raised over $450 million in capital for investments in water and sanitation across emerging markets. At WaterEquity, she launched a global private equity fund focused on water infrastructure and managed a debt portfolio spanning 13 emerging market countries. She oversaw investment strategy, capital deployment, and portfolio management, while also chairing the firm's Investment Committees.

Prior to WaterEquity, Marlene served as Managing Director at AlphaMundi Group, where she launched and managed a sub-Saharan Africa multi-asset fund with investments across renewable energy, sustainable agriculture, and circular economy sectors. Her work at WaterEquity and AlphaMundi focused on catalyzing private capital to address climate challenges while generating sustainable returns for investors.

Earlier in her career, Marlene was Vice President at Goldman Sachs & Co. in New York City, where she was responsible for research and investment recommendations covering a $5 billion+ portfolio of stocks, bonds, and derivatives. She also served as Vice President at DEG, one of Europe's largest development finance institutions, where she led $100 million+ in direct private equity and mezzanine investments across renewable energy, logistics, financial institutions, and real estate sectors.

Marlene holds a Chartered Financial Analyst (CFA) designation and graduated magna cum laude with a BA in Economics from Boston College.