Project Description
The Baltic Investment Fund III LP is a private equity fund that will invest in medium-sized companies in Estonia, Latvia and/or Lithuania. The fund has a target size of €50 million.
The fund will invest cash equity in medium-sized companies, with the objective of promoting the growth of the portfolio companies and achieving an attractive return over the medium term. Investment proceeds will be used to finance expansion projects.
Transition Impact
The investment advisor will take an active role in restructuring portfolio companies as required, and will demonstrate that small and medium-sized enterprises in the Baltic states can be restructured successfully. The fund will be represented on the Board of each portfolio company, and will impose high standards of corporate governance. The fund's behaviour will demonstrate that business conduct within a market-oriented economy must be legitimate, transparent and in accordance with sound business practices.
The Client
The fund is a limited partnership registered in Jersey, the Channel Islands. Investors are limited partners. The investment advisor is BaltCap Management Ltd, a fund management company registered in Finland. The fund sponsors include SITRA (Finland), CapMan Capital Management Oy (Finland) and Suprema Securities Ltd (Baltics).
EBRD Finance
The EBRD will commit up to €10 million to the fund. In addition, the Baltic Investment Special Fund, managed by the EBRD, will commit up to €5 million to the fund.
Project Cost
Target size is €50 million.
Environmental Impact
The fund will follow the EBRD's Environmental Procedures for Private Equity Funds. In implementing these procedures, the fund will assess potential environmental issues associated with its investments which are required to comply, at a minimum, with local and/or national health, safety, environmental and public consultation requirements.
Technical Cooperation
None.
Company Contact
Mr Jarmo Rautiainen
BaltCap Management Oy
Tel. +358 9 6226 9041; Fax +358 9 6226 9040
E-mail: jarmo.rautiainen@baltcap.inet.fi
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.
