ADVENT CENTRAL & EASTERN EUROPE II - REGIONAL FUND

Location:

Regional

Project number:

4607

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Target board date:

16 Dec 1997

Status:

Signed

PSD disclosed:

05 Nov 1997

 

Project Description

Equity investment in a private equity fund that aims to support small and medium-sized enterprises in the central and eastern Europe.

The principal objectives of the project are:

to provide equity finance for the region, especially to small and medium-sized private companies;
to provide resources to support the management of the investee companies;
to contribute to the development of local capital markets through eventual IPOs (initial public offerings) of portfolio companies.

Transition Impact

This Fund will have a considerable demonstration effect by successfully providing equity financing to eligible local companies and joint ventures with foreign partners. Additionally, transition towards market practices shall be achieved via transfer of management know-how including strategy, organisational design, procurement, marketing and finance skills.

The Client

Advent Central & Eastern Europe Fund II (ACEE II) will continue the successful investments begun by its predecessor, Advent Private Equity Fund – Central Europe. ACEE II will invest systematically in Croatia, the Czech Republic, Hungary, Poland, Romania the Slovak Republic and, when the opportunity arises, in the Baltic states, Russia and Ukraine.

EBRD Finance

The Bank intends to invest up to US$ 25 million (ECU 21.8 million) or 15 per cent of the total committed capital, whichever is greater.

Project Cost

It is envisaged that the new fund will be established as a closed-end investment company and will have a target size of US$ 150 million (ECU 131 million).

Environmental Impact

The Fund Manager will require investee companies to comply, at a minimum, with the health, safety and environmental regulations and standards of the country of investment. Since in many cases the Fund will invest alongside inward investors, it is possible that many new investee companies will comply with environmental standards equivalent to those of the European Union. The Fund will be required to submit an annual environmental report to the Bank.

Technical Cooperation

None.

Company Contact

 

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

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

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Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

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.