The proposed project is a private equity fund with a target size of EUR 100 million that will invest in small and medium-sized enterprises primarily in Romania and Bulgaria. Sectors targeted include retail, distribution, healthcare, logistics and media. The fund will make investments in growing cash generating middle market companies with well established market positions or with a defendable niche and with strong management. The Fund is a successor fund to the Romanian Post Privatization Fund (“RPPF”), established by EBRD in 1996 with the EU Technical Cooperation.
Transition impact will be the result of sound investments in growing privately owned companies in the targeted countries. The fund manager is expected to adopt a hands-on approach by taking board positions in portfolio companies and transferring technical expertise and know-how. Through the significant involvement of its local teams, the fund is expected to contribute towards the transfer of investment skills to local managers. The competitiveness of the portfolio companies will increase, thus developing the local markets and attracting strategic investors.
GED Eastern Fund II is a venture capital fund of a closed type, incorporated in Spain and regulated by the Spanish Stock Exchange Regulator.
GED Capital Development SA, SGECR, a Spanish private entity, is the management company and will manage the Fund. The GED team has worked together for several years through the management of the RPPF.
The Fund had the first closing in April 2005 at EUR 48 million.
The EBRD commits to invest up to EUR 20 million in equity in GED Eastern Fund II In the subsequent closing(s). The Fund’s target size is EUR 100 million.
Up to EUR 20 million.
GED Eastern Fund II will be required to implement the EBRD's Environmental Procedures for Private Equity Funds, which includes compliance with the Bank's Environmental Exclusion and Referral List and a requirement to ensure investee companies compliance with national environment, health and labour standards. The Fund will submit an Annual Environmental Report to the Bank.
Mr Enrique Centelles Echeverría, President
GED Capital Development SA
Marques del Riscal 12 .4 Izda
Tel: +34 (917) 020 250
Fax: +34 (917) 021 764
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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 (email@example.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.