The proposed transaction is an equity commitment in favor of BlackPeak Southeast Europe Growth Equity Fund SCSp (the "fund").
The fund will seek to make equity and quasi-equity investments in small and medium-sized enterprises and mid-cap companies with the objective of achieving long-term capital growth. The fund will invest in central and south-eastern Europe with a focus on Bulgaria, Romania, Slovenia, Croatia and Serbia.
ETI score: null
The Bank's investment is expected to contribute to enhancing the resilience of financial markets by developing private equity as an alternative funding source, and to help to increase the competitiveness of its SME investee companies.
BLACKPEAK SOUTHEAST EUROPE GROWTH EQUITY FUND SCSP
The general partner of the fund will be BlackPeak General Partners Sarl, which will be advised by Black Peak Advisors AD, a Bulgarian investment advisor.
Total Project Cost
The Bank's participation in the fund will enable it to achieve a first closing and begin operations.
Environmental and Social Summary
Categorised FI (ESP 2019). The Fund will be required to comply with EBRD's Performance Requirements 2, 4 and 9, adopt and implement the EBRD's Environmental and Social Risk Management Procedures for Active Equity Funds and submit Annual Environmental and Social Reports to the Bank. The indicative investment pipeline is considered to be low to medium risk from an environmental and social perspective and the client is working with EBRD to establish an Environmental and Social Management System adequate to this type of investments.
Technical Cooperation and Grant Financing
Company Contact Information
+359 286 27838
+359 8850 46830
26 Akademik Metodi Popov Str. 1113 Sofia, Bulgaria
PSD last updated
27 Oct 2020
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Environmental and Social Policy (ESP)
The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.
More information on the EBRD’s practices in this regard is set out in the ESP.
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Access to Information Policy (AIP)
The AIP 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 following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.
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Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.
Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM via email email@example.com to get guidance and more information on IPAM and how to submit a request.