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Darby Overseas Investments, Ltd., was founded in 1994 by The Honorable Nicholas F. Brady, who served as U.S. Secretary of the Treasury between 1988 and 1993. Richard Frank joined the firm as CEO in 1997 after his career at the International Finance Corporation (IFC)/World Bank. In 2003, Darby became a fully owned subsidiary of Franklin Resources, Inc. Darby has business lines in private debt, private equity, and infrastructure fund management in Latin America, Asia, and Central and Eastern Europe, with a total of $6.5 billion raised in 24 years.