Aureos Central Asia Fund LLC

Location:

Regional

Project number:

38930

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Target board date:

28 May 2008

Status:

Signed

PSD disclosed:

28 Mar 2008

Project Description

The EBRD is considering an equity investment of up to USD 10 million to but not exceeding 10% of total aggregate capital commitments of Aureos Central Asia Fund (the “Fund”). Aueros Central Asia Fund is a private equity fund established in March 2007 to focus on equity and quasi-equity investments in fast growing medium-sized enterprises in Central Asia (Kazakhstan, Uzbekistan, Kyrgyz Republic, Turkmenistan and Tajikistan), Azerbaijan and Georgia.

The Fund is seeking long-term capital appreciation by providing growth capital to middle market companies that exhibit established profitable business models, have strong management teams and demonstrate potential to become market leaders.

At least 70% of the Fund’s capital will be invested in Kazakhstan with the remaining amount in the other target countries. The Fund will consider investments in the range of USD 2 to 10 million per company.

Transition Impact

The Fund will support the development of private companies in the targeted countries by adopting a hands-on approach and transferring operational and strategic expertise and know-how. The transition impact of the proposed project will be most pronounced in the following four areas:

  1. development of private equity market in the target countries;
  2. demonstration that private equity funds are a sustainable form of financing;
  3. transfer of technical, operational and financial skills to the portfolio companies; and
  4. improvement of corporate governance.

The Client

The Fund is managed by Aureos Central Asia Managers Ltd, a private company with limited liability incorporated under the laws of Mauritius and wholly owned by Aureos Capital Limited. Aureos Capital Limited is a manager of private equity funds focused on making investments in medium-sized enterprises in the emerging markets.

EBRD Finance

The EBRD proposes an equity investment of up to USD 10 million to the Fund but not exceeding 10% of total aggregate capital commitments.

Project Cost

The Fund’s target size is estimated at USD 100 million for the final closing.

Environmental Impact

The Fund has adopted Business Principles and Environmental and Social Management procedures, which include Referral and Exclusion Lists, adequate environmental due diligence, monitoring procedures and compliance requirement of each sub-project with relevant national environmental, health, safety and labour standards and requirements. The Fund will be required to submit an Annual Environmental Report to the EBRD.

Technical Cooperation

None.

Company Contact

Mr. Talgat Kukenov, Managing Partner
E-mail: tkukenov@aureos.com

Aureos Kazakhstan Advisers Limited
7 Al Farabi Avenue
Nurly Tau Business Centre
Building 4A, Office 14
Almaty
Kazakhstan
Tel: +7 7273110288/87

Website: http://www.aureos.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.