The BVPEF IV and BV Fund IV Co-Invest (the BV IV Funds) will seek intermediate and long-term capital appreciation through negotiated transactions involving primarily equity and equity-like investments in companies operating in middle-market enterprises operating primarily in Russia, Kazakhstan and Ukraine as well as other CIS, Baltic countries and Mongolia.
The proposed project envisages a commitment to the BV IV Funds, the successor funds to First NIS Regional Fund (FNIS), NIS Restructuring Facility (NISRF), Baring Vostok Private Equity Fund (BVPEF) and BVPEF III, all managed by Baring Vostok Capital Partners Limited (BVCP), a private equity firm.
The BV IV Funds are well-positioned to meet the transition criteria of EBRD as they are to be managed by one of the most experienced and dedicated private equity teams in Russia/CIS. By supporting the BV IV Funds, the EBRD will support a leading private equity group with a strong franchise in the region thus contributing to the development of the local private equity market and consolidation of scarce financial resources in the hands of well qualified and successful managers.
Since 1994, the Baring Vostok team has invested about USD 550 million in 46 companies in Russia and the CIS. The team has a successful track record in all forms of private equity investments in CIS which is evidenced by successful exits, good corporate governance history and network of industry and political contacts that are crucial for any long-term business strategy. Through the Funds, the Bank will support the strategic entry into the private equity business by reputable and established foreign investors. As a result Baring Vostok can be rated as having strong transitional impact, as well as a good track record in one of the most difficult and volatile environments for private equity investments.
Up to an aggregate amount of USD 80 million in equity to BV PEF IV and BV Fund IV Co-Invest.
BVPEF IV : USD 1 billion
BV Fund IV Co-Invest: USD 400 million
The Fund will carry out its operations in accordance with the EBRD's Environmental Procedures for Private Equity Funds. The Procedures include compliance with the Bank's Environmental Exclusion and Referral List. The Fund will be required to submit annual environmental reports to the EBRD. Investee companies will be required to comply, at a minimum, with all applicable national health, safety, environmental and public information/consultation requirements.
Michael Calvey , Co-Managing Partner
Ducat Place II, Suite 750, Gasheka str. 7, bldg 1
Moscow, 123056, Russia
Tel: +7 495 967 13 07
Fax: +7 495 967 13 08
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