The global development finance landscape is undergoing a structural transformation as countries increasingly rely on private capital rather than traditional foreign aid to finance economic growth and infrastructure development. Consequently, foreign direct investment (FDI), private equity, venture capital, infrastructure funds, and public-private partnerships (PPPs) have become increasingly important in supporting long-term economic development, particularly across emerging markets. The transition toward private capital is also reshaping the way governments finance infrastructure development. For Kenya, the growing importance of private capital presents significant opportunities to accelerate economic development. As global investment patterns continue to evolve, private capital is expected to remain a central pillar of sustainable economic growth across emerging markets.