Project description
and objectives:
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Askembla III LP is a private equity fund that would invest in medium sized companies with good growth potential in Estonia, Latvia, Lithuania, Ukraine and potentially Russia. The management of the fund will draw their experience from the operations of their previous Askembla Growth Fund.
The Fund shall acquire majority or significant minority equity stakes in selected medium sized companies either in domestic or export markets. Target companies will have strong management willing to work with the fund manager and improve corporate governance and shareholder value.
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Transition impact:
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The investment in Askembla III LP offers the Bank the opportunity to demonstrate private equity funds as a way to successfully restructure and support SMEs in Baltic states, Ukraine and Russia. By investing in the successor fund, the Bank will assist further development of capital markets in target countries and improve corporate governance as well as business practices of investee companies through hands-on approach.
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The client:
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The Fund is structured as a 10-year limited partnership registered in Guernsey. The Sponsor and Fund Manager is Askembla III (GP) Limited, a private equity and investment management firm registered in Guernsey and owned by the management team of the Askembla Growth Fund.
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EBRD finance:
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An Equity investment of up to EUR 30 million.
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Total project cost:
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The target size of the fund is EUR 150 million. The maximum size is capped at EUR 170 million.
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Environmental impact:
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Askembla III LP will follow the EBRD’s Environmental Procedures for private equity funds. In implementing these procedures, the fund will assess potential environmental issues associated with its investments, all of which are required to comply at a minimum with local/national health, safety and environmental standards, regulations and public consultation requirements.
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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 Christoffer Kurpátow, Founding Partner, Askembla Asset Management
Strandvägen 5B, SE - 114 51 Stockholm, Sweden
Phone +46 8 678 06 10
Fax +46 8 678 06 80
Mob +46 70 722 29 11
E-mail: ck@askembla.se
Website: www.askembla.se
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EBRD contact:
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Viesturs Bernans, Operation Leader: bernansv@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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