TPG CO-INVESTMENT

Location:

Russia

Project number:

6352

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Target board date:

21 Jul 1998

Status:

Completed

PSD disclosed:

09 Jul 1998

Project Description

An investment in TPG Emerging Markets I, L.P. (the "Fund"), a Delaware limited partnership managed by an affiliate of the Texas Pacific Group ("TPG"). The Fund will co-invest, alongside other funds managed by TPG or its affiliates as well as alongside other co-investors, in the EBRD's countries of operations, with a primary focus on the Commonwealth of Independent States (CIS).

The project will provide equity funding to companies in the EBRD's countries of operations, with a particular emphasis on the CIS, and will seek to generate returns commensurate with the risks undertaken, typically through long-term capital growth.

The Fund will make available to its portfolio companies a combination of management, financial and technical expertise that will enable them to expand their operations and produce internationally competitive products on a commercially viable basis.

Transition Impact

The Fund will directly contribute to enhancing entrepreneurship and efficiency in investee enterprises by providing an active ownership role, strong governance and transfer of know-how to privatised and private companies.

The Client

The Fund will be managed by an affiliate of TPG, a top-tier private equity investment firm with over US$ 3 billion under management. The Fund will co-invest, alongside other funds managed by TPG or its affiliates as well as alongside other co-investors, in investments in the EBRD's countries of operations. The Fund's principal focus will be the acquisition of equity and equity-related securities of companies operating in the CIS.

EBRD Finance

The EBRD subscribed for a capital commitment of US$ 62.5 million (EUR 60 million) in the Fund's capital. The Fund’s total capital contributions in respect of each co-investment will be one third of the sum of total capital contributions to such co-investment by all funds managed by TPG or its affiliates.

Project Cost

Initially the capital commitments from the Fund and other funds managed by TPG or its affiliates to the co-investment activity are expected to amount to US$ 187.5 million (EUR 180 million).

Environmental Impact

The Fund will follow the EBRD's Environmental Procedures for Investment 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/national health, safety, environmental and public consultation requirements.

Technical Cooperation

None

Company Contact

 

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.