Project description
and objectives:
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The proposed project is a private equity fund with a target size of EUR 100
million that will invest in small and medium-sized enterprises primarily in
Romania and Bulgaria. Sectors targeted include retail, distribution,
healthcare, logistics and media. The fund will make investments in growing
cash generating middle market companies with well established market positions
or with a defendable niche and with strong management. The Fund is a successor
fund to the Romanian Post Privatization Fund (“RPPF”), established by EBRD in
1996 with the EU Technical Cooperation.
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Transition impact:
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Transition impact will be the result of sound investments in growing privately
owned companies in the targeted countries. The fund manager is expected to
adopt a hands-on approach by taking board positions in portfolio companies and
transferring technical expertise and know-how. Through the significant
involvement of its local teams, the fund is expected to contribute towards the
transfer of investment skills to local managers. The competitiveness of the
portfolio companies will increase, thus developing the local markets and
attracting strategic investors.
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The client:
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GED Eastern Fund II is a venture capital fund of a closed type, incorporated
in Spain and regulated by the Spanish Stock Exchange Regulator.
GED Capital Development SA, SGECR, a Spanish private entity, is the management
company and will manage the Fund. The GED team has worked together for
several years through the management of the RPPF.
The Fund had the first closing in April 2005 at EUR 48 million.
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EBRD finance:
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The EBRD commits to invest up to EUR 20 million in equity in GED Eastern Fund
II In the subsequent closing(s). The Fund’s target size is EUR 100 million.
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Total project cost:
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Up to EUR 20 million.
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Environmental impact:
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GED Eastern Fund II will be required to implement the EBRD's Environmental
Procedures for Private Equity Funds, which includes compliance with the Bank's
Environmental Exclusion and Referral List and a requirement to ensure investee
companies compliance with national environment, health and labour standards.
The Fund will submit an Annual Environmental Report to the Bank.
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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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Mr Enrique Centelles Echeverría, President
GED Capital
Development SA
Marques del Riscal 12 .4 Izda
28010 Madrid
Spain
Tel: +34 (917) 020 250
Fax: +34 (917) 021 764
Email: ecentelles@gediberian.com
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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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