ADVENT CENTRAL & EASTERN EUROPE SUCCESSOR FUND

Location:

Regional

Project number:

34563

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Target board date:

25 May 2004

Status:

Repaying

PSD disclosed:

27 Apr 2004

Project Description

The Fund will be a regional fund that will invest in negotiated private equity transactions, mainly in leveraged buyouts and expansion capital investments, in central and south-eastern Europe. Another goal of the proposed investment is to support one of the better performing fund managers in central and south-eastern Europe to consolidate its track record, and develop its team and investment strategy in, order to devote increasing resources to south-eastern Europe, an area underserved by private equity. The project is expected to have a positive impact on the investee companies of the Fund through Advent’s hands-on and control-oriented investment strategy and considerable technical expertise and facilitate transfer of knowledge.

Transition Impact

Transition impact comes from demonstration effects through investments outside the most advanced accession countries and through the potential use of leveraged acquisition, which is an innovative financial transaction in the region. The Fund manager is also expected to adopt a hands-on approach by taking positions on boards of portfolio companies and initiating restructuring of portfolio companies. Through the significant involvement of local analysts and managers, the Fund is also expected to contribute towards the transfer of vital investment skills to local managers based in the region.

The Client

Advent International Corporation (the Fund Manager), a Delaware Corporation, will be the managing member of the Fund’s general partner, and will provide advice and assistance with respect to investment decisions and other activities of the Fund. Advent International Corporation is one of the well established private equity groups in the world.

EBRD Finance

Commitment to invest up to € 50 million in the equity in the Fund, subject to the size of the Fund. The co-financing is expected from a range of institutional investors, including European and US institutional investors as well as other International Financial Institutions.  

Project Cost

The Fund’s target size is € 300 million, not to exceed € 350 million.

Environmental Impact

The Fund will have to adhere by the Bank’s Environmental Procedures for Property Development and Acquisition Funds, which require, among other things, adherence to the Bank’s Environmental Exclusion and Referral List and compliance of property projects with, at a minimum, national standards for environment, health and safety.  The Fund will be required to prepare an annual environmental report.

Technical Cooperation

None.

Company Contact

Joanna James, Managing Director, Central & Eastern Europe
UK – Regional Headquarters
Advent International plc
123 Buckingham Palace Road
London SW1W 9SL
England

Tel: +44 (0)20 7333 0800
Fax: +44 (0)20 7333 0801

info@uk.adventinternational.com

 

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)

The PIP 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. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
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.