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Petek Kutucuoglu, Operations Leader

Mediterra Capital Partners

Project number:41383
Business sector:Equity funds
Environmental category:FI
Target Board date:29 Mar 2011
PSD disclosed:25 Feb 2011

Project Description

The EBRD is considering investing up to EUR 40 million in Mediterra Capital Partners L.P. (the “Fund”), a private equity investment fund, to be registered as a limited partnership under English law, targeting EUR 300 million in commitments.

Mediterra is a first generation, primarily country (Turkey) focused fund targeting mid-market companies with an enterprise value ranging from EUR 50-500 million. The Fund’s objective is to deliver significant capital appreciation to its investors through equity and equity-related investments where the Fund Manager derives value from each portfolio company over a three to five year timeline through hands on work capturing the full potential performance of the businesses it invests in.

Transition Impact

The transition impact and demonstration effects associated with this potential investment are expected to be achived via 

(i) institution building supporting a local team which brings Western PE experience; 

(ii) market expansion of the private equity market as well as expansion of the mid-sized companies and 

(iii) standards of corporate governance to be set both at the Fund level as well as at the portfolio companies’ level.

The Client

The Fund will be managed by Mediterra Capital Partners Limited, a limited liability company incorporated under the laws of Scotland, owned by the management team.

EBRD Finance

The Bank will commit to invest up to a maximum of EUR 40 million.

Project Cost

The target size of the Fund is EUR 300 million.

Environmental Impact

The project has been assigned a screening category of FI, as the EBRD financing is via a financial intermediary.

The Fund shall comply with the EBRD's Performance Requirement 2 (Labour and Working Conditions) and Performance Requirement 9 (Financial Intermediaries).

The Fund should ensure investee companies comply with national environmental and OHS and labour standards, and given that restructuring of investee companies is likely to involve significant collective redundancies, PR2 requirements on managing retrenchment.

The Fund will be required to adhere to the EBRD's Environmental and Social Exclusion and Referral lists, and submit annual environmental and social reports to the Bank.

Technical Cooperation


Company Contact

Murat Erkurt, Managing Partner
Email: Murat.Erkurt@mediterracapital.com
Mobile: +44 7730 493 508

Ahmet Faralyali, Managing Partner
Email: Ahmet.Faralyali@mediterracapital.com
Mobile: +90 533 810 1091
Office: +90 212 340 76 34
Fax:+90 212 340 76 01

Büyükdere Caddesi Astoria İş Merkezi A Blok
Kat 9: 34394, Esentepe, Istanbul, Turkey

Business opportunities

For business opportunities or procurement, contact the client company.

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations.
Text of the PIP

Project Complaint Mechanism (PCM)

The EBRD has established the Project Complaint Mechanism (PCM) to provide an opportunity for an independent review of complaints from one or more individuals or from organisations concerning projects financed by the Bank which are alleged to have caused, or likely to cause, harm. The Rules of Procedure governing the PCM can be found at www.ebrd.com/downloads/integrity/pcmrules.pdf, the Russian version can be accessed at http://www.ebrd.com/downloads/integrity/pcmrulesr.pdf

Any complaint under the PCM must be filed no later than 12 months after the last distribution of EBRD funds. You may contact the PCM officer (at pcm@ebrd.com) or the relevant EBRD Resident Office for assistance if you are uncertain as to the period within which a complaint must be filed.

Project Summary Documents are created before consideration by the EBRD Board of Directors. Details of a project may change following disclosure of a Project Summary Document. Project Summary Documents cannot be considered to represent official EBRD policy.

Last updated 24 February 2011