Project description
and objectives:
|
The proposed EBRD financing involves an investment of up to € 10.05 million in
a private equity fund that invests in small and medium-sized enterprises
(SMEs) in Poland. The fund is structured as a limited liability company in
Delaware, USA.
The EBRD's key objectives in supporting the fund are:
-
to deliver much-needed wholesale equity to SMEs, which are too small for the
Bank to finance in its normal direct operations;
-
to support the development of a top national investment fund (NIF) fund
manager to establish its first commercial private equity fund; and
-
to benefit financially from the expected growth in value of the fund's
portfolio.
|
Transition impact:
|
The financing would allow Nova Polonia to increase the scope and range of its
investment activities and hence provide additional equity finance to SMEs in
the region.
By supporting the development of Nova Polonia, the EBRD would assist the
development of the local asset management industry in Poland and therefore
enhance local financial intermediation. It would also help to improve the
capacity to attract scarce equity capital.
The fund is expected to develop a management culture committed to the rules of
the market and corporate governance. It will also reach out to the regions,
rather than concentrating on Warsaw.
|
The client:
|
Nova Polonia Private Equity Fund is a limited liability company in Delaware,
USA. The sponsor is AIB Capital Markets plc and it is managed by AIB WBK Fund
Management Sp z.o.o, an indirect majority-owned subsidiary.
|
EBRD finance:
|
Up to €10.05 million.
|
Total project cost:
|
After the closing, the fund is expected to be between € 60 and € 80 million,
with a maximum size of € 100 million.
|
Environmental impact:
|
The Fund will follow the EBRD's Environmental Procedures for Private Equity
Funds. In implementing these procedures, the Fund will assess potential
health, safety and environmental issues associated with its investments which
will be required to comply, at a minimum, with local/national health, safety,
environmental and public consultation requirements. The Fund will submit an
annual environmental report to the Bank.
|
Technical
cooperation:
|
None
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
|
Company contact:
|
|
EBRD contact:
|
Wojciech Ciszek, Operation Leader: ciszekw@ebrd.com
|
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
|
