The EBRD is considering investing up to EUR40 million but not exceeding 20% of total aggregate commitments in 3TS CEE Fund III (the “Fund”), a regional private equity fund with a target size of EUR 200 million. 3TS CEE Fund III is the follow-on fund of 3TS Central European Fund II, a EUR130 million private equity fund launched in 2005 and sponsored by 3i Group Plc.
The Fund will seek equity and quasi-equity investments in small and medium-sized enterprises operating in Central and South-Eastern Europe. It will target fast growing sectors such as services (consumer, business, healthcare and financial) as well as telecoms, technology, media, renewable energy and industrials.
The transition impact of the proposed project would come from the following areas:
- institution building and development of sustainable private equity market in the region
- transfer of technical, strategic, operational and financial know-how to investee companies
- promotion of the highest standards of corporate governance and integrity in the investee companies
3TS CEE Fund III will be formed as a Jersey limited partnership. It will be managed by 3TS Capital Partners a limited liability company registered in Finland.
The Bank proposes to commit 20% of the total commitments of the Fund, up to an amount of EUR 40 million.
The target size of the Fund is EUR 200 million for final closing, with a hard cap of EUR 220 million.
The project has been assigned a screening category of FI, as the EBRD financing is via a financial intermediary. The EBRD is reviewing the Fund’s current portfolio and pipeline of potential investments.
The Fund shall comply with the EBRD's Environmental and Social Policy’s Performance Requirement 2 (Labour and Working Conditions) and Performance Requirement 9 (Financial Intermediaries). Investee companies, their activities and operations will be required to comply with national and EU environmental, health and safety regulations and standards; and national standards for and public consultation. For those sectors where there may be potentially significant environmental or social impacts, e.g. renewable energy generation, the Fund will be asked to refer to the EBRD prior to investment. The EBRD will assess and advise on environmental and social due diligence and risk management strategy on a case by case basis where required.
The EBRD shall monitor the environmental and social performance of the fund and its investee companies for the duration of the Bank’s investment in the fund. Monitoring will be through annual environmental reporting.
3TS Capital Partners
Praha 2, 120 00
Tel: +420 221 460 130
3TS Capital Partners
Tel. +43 1 537 03190
For business opportunities or procurement, contact the client company.
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