Project description
and objectives:
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The proposed project is a private equity fund with a target size of EUR 500 m
that will invest in markets of the new European Union members, the EU
accession candidate countries, other SEE countries as well as CIS such as
Russia and Ukraine. The Fund will seek control or substantial minority
positions in companies with enterprise values between EUR 100 m and EUR 1 bn
and will seek to generate in excess of 25% gross IRR for the whole Fund. The
track record of the fund management team is based on the success of the AIG
Emerging Europe Infrastructure Fund.
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Transition impact:
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The transition impact effects of an investment in the Fund can be considered
from three aspects:
(i) demonstration effects of successful investee company restructuring
(ii) demonstration effects of new ways of financing activities
(iii) institution building.
The Fund will add value to the portfolio companies of the Fund by active
participation in their management and operations and transfer their knowledge
and experience to the portfolio companies.
As there are not many precedents for private equity in some of the target
countries, the Fund will also fulfil an educational role by creating awareness
and winning acceptance for this form of financing.
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The client:
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Emerging Europe Convergence Fund II LP is a private equity fund to be
established in Guernsey. EMP Europe Management (CI) LP will be the General
Partner and Fund Manager. Mid Europa Parners LLP will be retained by EMP
Europe Management (CI) LP as the Investment Manager.
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EBRD finance:
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EBRD will commit up to 10% of the total aggregate capital commitments of the
Fund.
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Total project cost:
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Target size of the Fund is EUR 500 million.
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Environmental impact:
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The Fund will apply the EBRD's environmental procedures for Private Equity
Funds which ensures adherence to the Bank's Environmental Exclusion and
Referral List, that appropriate environmental due diligence is carried our
prior to investment, that investee companies meet, at a minimum, national
standards for environment, health, safety and labour.
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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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Thierry Baudon, Managing Partner
161 Brompton Road
London SW3 1EX
Phone: +44 (0) 20 7886 3600
Fax: +44 (0) 20 7886 3639
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EBRD contact:
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Safiatou Lawson, Operation Leader: lawsons@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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