Abraaj Turkey Fund I

Location:

Turkey

Project number:

46141

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Target board date:

17 Dec 2014

Status:

Signed

PSD disclosed:

14 Nov 2014

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

 

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

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

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Text of the PIP

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Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.