Translated version of this PSD: Polish
The EBRD is considering an investment of up to PLN 50 million (€12 million equivalent) in the forthcoming IPO of Altus TFI S.A. on the Warsaw Stock Exchange.
The EBRD’s investment will support Altus TFI in its transformation from a private to a publicly listed company with enhanced governance and transparency requirements. The EBRD plans to appoint an independent experienced board member to assist in institutionalising the business and provide guidance on corporate governance.
Furthermore, the EBRD’s investment will represent its continued commitment to supporting the development of Poland’s capital markets where asset management companies are expected to play an increasingly important role, particularly in the context of the recent pension reforms.
Altus is a privately held mutual fund and asset management company in Poland with assets under management of more than PLN 5 billion across 36 funds. It is ranked 17th with a 1.5% market share.
The Company was established in 2008 by Piotr Osiecki, former Deputy CEO and CIO of PZU Asset Management, who is currently the CEO of Altus with a 59% ownership. The remaining shares are owned by managers of the fund and founding shareholders
Equity subscription in newly offered shares.
Up to PLN 50 million (€12 million equivalent).
Altus will be required to comply with EBRD’s PRs 2 and 9, adopt and implement the Bank’s E&S Procedures for Active Equity Investments and submit Annual Environmental and Social Reports to the Bank.
Chief Executive Officer, Altus TFI S.A.
Ul. Pankiewicza 3
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