Abraaj Turkey Fund I

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 46141

Status Signed

Location

Türkiye

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 46141

Status Signed

Location

Türkiye

Business Sector

Equity Funds

Notice Type

Private

Environmental Category

Approval Date

17 Dec 2014

Disclosure date

14 Nov 2014

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."

Translated version of this PSD: Turkish

Project Description

The EBRD is considering an equity investment in the Abraaj Turkey Fund I (the “Fund”), a private equity investment fund established as a limited partnership in the Cayman Islands.

The Fund will make growth equity and equity-related investments in mid-market companies operating in Turkey.

Transition Impact

The EBRD’s proposed investment is expected to contribute to the development of the private equity industry in Turkey, thereby providing additional long-term equity financing to mid-market companies. Furthermore, the Bank’s investment is also expected to (i) enable the local investment team to benefit from the Abraaj Group’s global platform and networks, thereby providing long-term support and expertise; and (ii) contribute to the transfer of skills to the investee companies leveraging on the Abraaj Group’s operating experience across multiple sectors and emerging markets.

The Client

Abraaj Turkey Fund I GP Limited (the “General Partner”), a limited company to be incorporated in the Cayman Islands, will be the general partner and Abraaj Investment Management Limited (the “Fund Manager”), a limited company registered in the Cayman Islands, will be the manager of the Fund.

The General Partner and the Fund Manager are affiliates of Abraaj Holdings (the “Abraaj Group”) a growth markets focused alternative asset manager with USD 7.5 billion assets under management.

EBRD Finance

The EBRD is proposing to make an equity investment of up to USD 75 million.

Project Cost

The target size of the Fund is USD 500 million.

Environmental Impact

Categorised FI: The Fund will be required to comply with the EBRD's Performance Requirement 2 (Labour and Working Conditions) and Performance Requirement 9 (Financial Intermediaries). The Fund will be required to adopt and implement the Bank’s E&S Procedures for Active Equity Investments, adhere to the EBRD's Environmental and Social Exclusion and Referral lists, and submit Annual Environmental and Social reports to the EBRD.

Technical Cooperation

None.

Company Contact

Selçuk Yorgancıoğlu

Abraaj Capital Limited
Visnezade Mahallesi
Suleyman Seba Caddesi
B2 Blok No:32, 2nd Floor
Akaretler, Besiktas 34357
Istanbul, Turkey
Tel: +90 (212) 381 4800

Transition impact

ETI Score:60

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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