The aim of the proposed project is to establish a commercially managed, private equity fund operating mainly in Poland. However, it will invest up to 40% of the total capital in the central European region (Bulgaria, Romania, Slovak Republic, Estonia, Latvia, Lithuania Czech Republic and Hungary).
The fund will primarily serve medium-sized companies that require capital injections to take advantage of growth opportunities. The fund will expand the spectrum of possible transaction categories and structures (e.g. expansion capital, MBOs, restructurings, privatisations, start-ups, and growth capital). It will continuously improve exit alternatives especially to local investors.
The investment in PEF V offers the investors the opportunity to further advance the transition impact of initial investments in companies needing to expand or restructure. The fund will contribute to the development of the private sector and the economic growth of industrial regions in central Europe by: (i) carefully selecting enterprises with strong prospects in the private sector or in the process of privatisation; (ii) providing equity financing, thereby attracting additional funds from banks and other investors; and (iii) advising the companies in which the fund has invested and helping them to improve their performance (corporate governance awareness, improvement of management skills, introduction of technology, appreciation of environmental responsibility); and (iv) development of local capital markets and increasing the utilisation of domestic sources of capital.
The Polish Enterprise Fund V L.P. will be a limited partnership to be established under the laws of Delaware for the purpose of making equity and equity-related investments in companies in the above listed countries. Enterprise Investors will manage the fund.
The EBRD plans to commit up to 20% of the capital of the fund.
The fund will have a maximum target for all subscriptions of € 300 million at final closing.
The fund 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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