Southbridge Europe Mezzanine II

Location:

Greece

Project number:

52359

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Approval date:

24 Mar 2021

Status:

Signed

PSD disclosed:

04 Feb 2021

Project Description

Provision of an equity commitment of up to EUR 30 million in favour of SouthBridge Europe Mezzanine II S.C.A. SICAR (the "Fund").

Project Objectives

The Fund will make mezzanine and equity-related investments in small and medium-sized enterprises and lower mid-cap companies in Greece with the objective of achieving long-term capital growth.

Transition Impact

ETI score: 66

The Bank's investment is expected to contribute to enhancing the resilience of financial markets by supporting mezzanine financing as an alternative funding source in Greece, and also contribute to promoting the competitiveness of the Fund's portfolio companies.

Client Information

SOUTHBRIDGE EUROPE MEZZANINE II SCA SICR

The general partner of the Fund will be SouthBridge Europe Mezzanine II GP, S.a.r.l. The general partner will be advised by SouthBridge Advisors S.A. AIFM, a Greek Alternative Investment Fund Manager.

EBRD Finance Summary

EUR 30,000,000.00

Total Project Cost

EUR 150,000,000.00

Additionality

The Bank's participation will support the Fund in reaching its target size.

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.

Technical Cooperation and Grant Financing

None.

Company Contact Information

Evi Andrianou
eandrianou@southbridgemanagers.com
+30 6932 315013
www.southbridgeadvisors.com
59 Vas. Sofias Ave., Athens 115 21, Greece

PSD last updated

04 Feb 2021

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

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.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

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.

Specific requests for information can be made using the EBRD Enquiries form.

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 ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.

 

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