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€40 million to Mediterra Fund to support private sector
There are no open procurement opportunities for this project.
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|Business sector:||Equity funds|
|Board date:||29 Mar 2011|
|PSD disclosed:||25 Feb 2011|
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.
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 Fund will be managed by Mediterra Capital Partners Limited, a limited liability company incorporated under the laws of Scotland, owned by the management team.
The Bank will commit to invest up to a maximum of EUR 40 million.
The target size of the Fund is EUR 300 million.
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.
Murat Erkurt, Managing Partner
Mobile: +44 7730 493 508
Ahmet Faralyali, Managing Partner
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
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Last updated 24 February 2011