Programs › 87.004
Assistance listing · 87.004
Equity Investments
Federal financial assistance obligated under listing 87.004, the organisations that receive it and where it goes.
USAspending caveat. Figures are obligations reported by federal agencies to USAspending.gov, not payments. In USAspending's words: "An outlay occurs when federal money is actually paid out, not just promised to be paid ('obligated')." "Every agency has a Senior Accountable Official who must officially certify that the quarterly financial data submitted by their agency is accurate and complete." "If there are any discrepancies in procurement data, FPDS is the authoritative source." Contract data for the Department of Defense and the U.S. Army Corps of Engineers is published with a 90-day delay. Data loaded 30 Sep 2026.
Federal agencies obligated $0 in awards under assistance listing 87.004, Equity Investments, in FY2026, and $889M over the five fiscal years since FY2023; the program ranks 301 of 988 on this site.
The largest recipient organisations by the value of $1.0M-plus awards since FY2023 were Orion CMC USA LP ($100M), United States-Ukraine Reconstruction Investment Fund, L.P. ($75M) and African Infrastructure Investment Fund 4 ($50M).
Obligations by fiscal year
Compared with the largest program FY2026
| Measure | This program | Grants to States for Medicaid | All assistance |
|---|---|---|---|
| Obligations, FY2026 | $0 | $722B | $4.4T |
| Five-year total | $889M | $2.6T | $17T |
| Share of all assistance obligations, five years | 0% | 15.2% | 100% |
Largest recipients $1.0M+ award value since FY2023
| # | Organisation | Awards | Award value |
|---|---|---|---|
| 1 | Orion CMC USA LP | 1 | $100M |
| 2 | United States-Ukraine Reconstruction Investment Fund, L.P. | 1 | $75M |
| 3 | African Infrastructure Investment Fund 4 | 1 | $50M |
| 4 | Alcazar Energy Partners II SLP (scsp) | 1 | $50M |
| 5 | A.p. Moller Capital - Emerging Markets Infrastructure Fund II KS | 1 | $50M |
| 6 | Pembani Remgro Infrastructure Fund II | 1 | $40M |
| 7 | Amethis Fund III S.c.a., Sicav-Raif | 1 | $40M |
| 8 | Sael Industries Limited | 1 | $35M |
| 9 | Asia Partners II LP | 1 | $29M |
| 10 | Leapfrog Emerging Consumer Fund IV | 1 | $25M |
| 11 | Beel Sustainable Credit II | 1 | $25M |
| 12 | Xic Latinamerica Infrastructure Alpha Plus Fund I | 1 | $25M |
| 13 | Somerset Indus Capital Partners Ii, LLC | 1 | $25M |
| 14 | Miro Forestry Developments Limited | 1 | $24M |
| 15 | Janngo Capital Startup Fund SLP | 1 | $20M |
Awarding agencies $1.0M+ awards
Largest awards since FY2023
| Recipient | Awarding agency | Type | Award value | Begun | Place | Record |
|---|---|---|---|---|---|---|
| Orion CMC USA LP | U.S. International Development Finance Corporation | Other assistanceOther Reimbursable, Contingent, Intangible, or Indirect Financial Assistance | $100M | 5 Oct 2025 | — | USAspending |
| United States-Ukraine Reconstruction Investment Fund, L.P. | U.S. International Development Finance Corporation | Other assistanceOther Reimbursable, Contingent, Intangible, or Indirect Financial Assistance | $75M | 25 Sep 2025 | — | USAspending |
| African Infrastructure Investment Fund 4 | U.S. International Development Finance Corporation | Other assistanceOther Reimbursable, Contingent, Intangible, or Indirect Financial Assistance | $50M | 15 Sep 2023 | — | USAspending |
| Alcazar Energy Partners II SLP (scsp) | U.S. International Development Finance Corporation | Other assistanceOther Reimbursable, Contingent, Intangible, or Indirect Financial Assistance | $50M | 22 Sep 2023 | — | USAspending |
| A.p. Moller Capital - Emerging Markets Infrastructure Fund II KS | U.S. International Development Finance Corporation | Other assistanceOther Reimbursable, Contingent, Intangible, or Indirect Financial Assistance | $50M | 9 Sep 2024 | — | USAspending |
| Pembani Remgro Infrastructure Fund II | U.S. International Development Finance Corporation | Other assistanceOther Reimbursable, Contingent, Intangible, or Indirect Financial Assistance | $40M | 14 Sep 2023 | — | USAspending |
| Amethis Fund III S.c.a., Sicav-Raif | U.S. International Development Finance Corporation | Other assistanceOther Reimbursable, Contingent, Intangible, or Indirect Financial Assistance | $40M | 24 Sep 2024 | — | USAspending |
| Sael Industries Limited | U.S. International Development Finance Corporation | Other assistanceOther Reimbursable, Contingent, Intangible, or Indirect Financial Assistance | $35M | 12 Sep 2023 | — | USAspending |
| Recipient not shown | U.S. International Development Finance Corporation | Other assistanceOther Reimbursable, Contingent, Intangible, or Indirect Financial Assistance | $30M | 1 Dec 2023 | — | USAspending |
| Asia Partners II LP | U.S. International Development Finance Corporation | Other assistanceOther Reimbursable, Contingent, Intangible, or Indirect Financial Assistance | $29M | 14 Sep 2023 | — | USAspending |
Other programs numbered 87.xxx
- 87.006 Political Risk Insurance $1.4B
- 87.052 Gulf Coast Ecosystem Restoration Council Oil Spill Impact Program $527M
- 87.051 Gulf Coast Ecosystem Restoration Council Comprehensive Plan Component Program $195M
- 87.005 Debt Financing $118M
- 87.101 Project Development $116M
Questions and answers
How much is obligated under assistance listing 87.004?
$0 in FY2026 and $889M over the five fiscal years since FY2023, counting every award type recorded under the listing (grants, direct payments, loan subsidy cost, insurance and other assistance). Obligations are commitments, not payments.
Who receives the most under Equity Investments?
Orion CMC USA LP ($100M), United States-Ukraine Reconstruction Investment Fund, L.P. ($75M), African Infrastructure Investment Fund 4 ($50M), Alcazar Energy Partners II SLP (scsp) ($50M), A.p. Moller Capital - Emerging Markets Infrastructure Fund II KS ($50M). Individuals are never listed; where a program pays individuals, USAspending records aggregated rows that appear here as "not shown".
What is an assistance listing (CFDA) number?
A five-digit number that identifies a federal financial assistance program on SAM.gov (formerly the Catalog of Federal Domestic Assistance). Every grant, loan, direct payment or other assistance award on USAspending carries one; contracts do not.
Provenance
Source: USAspending.gov API v2, spending by category (assistance listing) by fiscal year, recipient cross-tabulation for FY2022–FY2025 and award search, loaded 30 Sep 2026. State figures come from each state's top-100 listing table, so small amounts in a state may be missing. See methodology.