Project description
and objectives:
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A direct equity fund investing mainly in central and eastern Europe.
The fund's objective is to achieve substantial long-term capital appreciation through the purchase, active management and disposition of a portfolio of direct equity investments in central Europe.
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Transition impact:
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The fund will contribute directly to enhancing entrepreneurship and the efficiency in portofolio companies by providing an active ownership role, strong governance and transfer of know-how to privatised and private companies.
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The client:
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Emerging Europe Capital Investors, LDC is an investment fund which will acquire equity and equity-related securities of companies operating in central and eastern Europe. The fund may also to a lesser extent invest in the Commonwealth of Independent States. The fund will be managed by European Direct Capital Management, a joint venture between State Street Corporation, a bank holding company listed on the New York Stock Exchange, and Emerging Europe Asset Management, a Prague-based emerging markets investment management firm.
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EBRD finance:
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The EBRD intends to commit up to US$ 30 million (ECU 27 million) to the fund's capital. The Bank's initial commitment is US$ 22.4 million. The Bank will also have the right to co-invest alongside the fund.
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Total project cost:
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The fund closed with US$ 94.4 million of the initial capital and can have a maximum size of US$ 300 million.
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Environmental impact:
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The fund will follow the EBRD's Environmental Procedures for Investment Funds.
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Technical
cooperation:
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None
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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EBRD contact:
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Galia Amirova, Operation Leader: amirovag@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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