Aureos Central Asia Fund LLC

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 38930

Status Complete

Location

Regional

Business Sector

Equity Funds

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 38930

Status Complete

Location

Regional

Business Sector

Equity Funds

Notice Type

Private

Environmental Category

Approval Date

28 May 2008

Disclosure date

28 Mar 2008

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

The EBRD is considering an equity investment of up to USD 10 million to but not exceeding 10% of total aggregate capital commitments of Aureos Central Asia Fund (the “Fund”). Aueros Central Asia Fund is a private equity fund established in March 2007 to focus on equity and quasi-equity investments in fast growing medium-sized enterprises in Central Asia (Kazakhstan, Uzbekistan, Kyrgyz Republic, Turkmenistan and Tajikistan), Azerbaijan and Georgia.

The Fund is seeking long-term capital appreciation by providing growth capital to middle market companies that exhibit established profitable business models, have strong management teams and demonstrate potential to become market leaders.

At least 70% of the Fund’s capital will be invested in Kazakhstan with the remaining amount in the other target countries. The Fund will consider investments in the range of USD 2 to 10 million per company.

Transition Impact

The Fund will support the development of private companies in the targeted countries by adopting a hands-on approach and transferring operational and strategic expertise and know-how. The transition impact of the proposed project will be most pronounced in the following four areas:

development of private equity market in the target countries;
demonstration that private equity funds are a sustainable form of financing;
transfer of technical, operational and financial skills to the portfolio companies; and
improvement of corporate governance.

The Client

The Fund is managed by Aureos Central Asia Managers Ltd, a private company with limited liability incorporated under the laws of Mauritius and wholly owned by Aureos Capital Limited. Aureos Capital Limited is a manager of private equity funds focused on making investments in medium-sized enterprises in the emerging markets.

EBRD Finance

The EBRD proposes an equity investment of up to USD 10 million to the Fund but not exceeding 10% of total aggregate capital commitments.

Project Cost

The Fund’s target size is estimated at USD 100 million for the final closing.

Environmental Impact

The Fund has adopted Business Principles and Environmental and Social Management procedures, which include Referral and Exclusion Lists, adequate environmental due diligence, monitoring procedures and compliance requirement of each sub-project with relevant national environmental, health, safety and labour standards and requirements. The Fund will be required to submit an Annual Environmental Report to the EBRD.

Technical Cooperation

None.

Company Contact

Mr. Talgat Kukenov, Managing Partner
E-mail: tkukenov@aureos.com

Aureos Kazakhstan Advisers Limited
7 Al Farabi Avenue
Nurly Tau Business Centre
Building 4A, Office 14
Almaty
Kazakhstan
Tel: +7 7273110288/87

Website: http://www.aureos.com

Transition impact

ETI Score:100

PSD last updated

12 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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