Fund Raising
Posted Thu, 18/02/2010 - 21:55
The European Bank for Reconstruction and Development has approved a €50 million investment for Mezzanine Management Central Europe Limited's new eastern European fund, Accession Mezzanine Capital III. The two have a well-established relationship having worked together on the earlier AMC I & II funds. The EBRD's commitment to the corporate sector in the CEE region has been demonstrated over the years through total investments in excess of €2.5 billion.
Posted Mon, 01/02/2010 - 13:55
BaltCap Latvia has announced a new Latvian-focused venture capital fund in concert with the European Investment Fund (EIF), making it the first to complete fundraising under EIF's JEREMIE process. JEREMIE is made available to select financial institutions through the EU Cohesion policy to help streamline and maximize SME investment.
Posted Tue, 26/01/2010 - 11:42
Vienna-based CRG Capital is joining forces with the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) to establish a new CEE fund to invest in distressed assets. The CEE Special Situations Fund has a target size of €200 million with the three initial investors providing a combined €36 million.
Posted Sun, 20/12/2009 - 22:07
Almost a year after the final close of its first fund, European private equity firm Syntaxis Capital has announced the first close on its second fund, SMF II. At € 140 million, the close is more than half of the fund's target value of € 250 million. Anchoring the fund was the European Bank for Reconstruction and Development, who also anchored the previous fund. Others contributing to SMF II include the European Investment Fund, unnamed limited partners from Fund I, and a handful of new investors.
Posted Tue, 08/12/2009 - 23:23
Emerging market investor Actis recently announced the final close of its USD 750 million Actis Infrastructure 2 fund. The fund fell short of its USD 1.25 billion target after anchor investor CDC Group reduced their USD 750 million commitment to USD 500 million. The U.K.-backed CDC had also committed USD 167 million to seeding infrastructure assets for Actis. Despite the lower than expected fund raising effort Actis considers the close of the fund to be successful.
Posted Mon, 07/12/2009 - 20:10
Citing the poor performance of the East Capital Bering Funds, East Capital Explorer AB announced in late September a plan to make additional investments in the two funds. The Bering Russia Fund received €20 million while the Bering Balkan Fund received €10 million. With the investments complete East Capital Explorer reports €42.1 million available for future projects and €80.5 m in cash and deposits.
Posted Tue, 10/11/2009 - 12:11
After receiving final approval from the European Bank for Reconstruction and Development (EBRD), Resource Eastern European Equity Partners (REEEP) has announced the first close of its inaugural fund at €51 million. REEEP contributed €1million while the EBRD and Dutch financial institution Rabobank Group added €25 million each. The fund, whose final target size is €200 million, will target sectors that are traditionally under-funded by private equity.
Posted Wed, 04/11/2009 - 22:46
3TS Cisco Growth Fund is set to receive a significant boost via a co-investment deal between 3TS Capital Partners and Istanbul Venture Capital Initiative (iVCi). 3TS Capital partners, a CEE private equity firm, will join forces with iVCi to provide a €6 million investment aimed at helping the technology, media, and telecom sectors grow in Turkey.
Posted Mon, 02/11/2009 - 15:50
U.K based Future Capital Partners recently announced it has secured £40 million in funds to be dedicated to a luxury real estate development project in Montenegro. The £150 million project on the bay of Buvda will include luxury apartments, a five-star hotel, an exhibition center, and other development of 100 meters of beach-front property. Among the current investors are private banks, British wealth managers, and handful of wealthy individuals.
Posted Tue, 27/10/2009 - 11:48
JP Morgan's One Equity Partners has agreed to partner with Russian investment firm Interros Holding in establishing a joint investment fund to benefit Russian businesses. Each partner has committed to an initial USD 500 million contribution for the USD 1 billion venture, aimed at expansion capital and debt financing opportunities in the consumer products, services, and manufacturing sectors.
Posted Tue, 27/10/2009 - 11:36
The European Bank for Reconstruction and Development is teaming up with Kazyna Capital Management (KCM) to launch a new Kazakhstani-focused fund. The new USD 300 million fund is aimed at providing capital to distressed companies which are experiencing difficulty in paying off a heavy debt load. While the fund will focus primarily on businesses in Kazakhstan, it will entertain opportunities in other countries as well, and hopes to attract further investment from the World Bank and the Asian Development Bank. The deal marks the second joint effort between the EBRD and KCM, following the 2008 launch of the USD 125 million Kazakhstan Growth Fund which targeted Russian and Asian opportunities.
Posted Fri, 23/10/2009 - 13:40
Russian banking giant VTB Group is teaming up with The Russian Corporation of Nanotechnologies (RUSNANO) and American private equity firm Draper Fisher Jurvetson (DFJ) to launch a new fund for Russian investment. The new fund, named DFJ-VTB Aurora, will start at USD 100 million with VTB and RUSNANO contributing USD 50 million each. DFJ and VTB Group's investment arm, VTB Capital will manage the fund as partners.
Posted Wed, 30/09/2009 - 16:59
A €10 million equity investment into PE startup Eurasia Capital Partners Limited has received concept approval by the European Bank for Reconstruction and Development, which is set to take up final review in early December. The EBRD's proposal calls for the bank investing €10 million or 20% of the new fund's aggregate size, whichever is less.
Posted Thu, 10/09/2009 - 22:40
Czech private equity firm Arx Equity Partners has completed a second closing for its Arx III fund at €102 million, moving ever closer to the target size of €125 million. The fund's first close, at €83 million, was completed in October of last year. Despite the current difficult fund raising environment, Arx's proven track record with its first two funds has helped to keep veteran investors on board while also attracting new ones.
Posted Tue, 01/09/2009 - 22:38
Human Stem Cell Institute (HSCI), the Russian biotechnology company owned by Artur & Andrey Isaev and Alexander Prikhodko, has announced plans to offer an IPO to be listed on the MICEX Stock Exchange. The planned USD 5 million offering will be 15% to 25% of total HSCI shares and will be conducted later this year. The company plans to combine the new capital with existing funds to invest in lab upgrades, further company expansion, and clinical trials of some of its new products.
Posted Tue, 18/08/2009 - 15:57
A new project from Warsaw based Resource Partners GP has passed concept review with the European Bank for Reconstruction and Development (EBRD) and awaits final approval in September. The project calls for the establishment of the Resource Eastern European Equity Partners I Fund with the EBRD making an initial contribution of € 25 million at first close. The EBRD will have the option to increase its investment at the time of subsequent closings.
Posted Thu, 13/08/2009 - 00:00
ADM Capital's new fund, the ADM Capital CEECAT Recovery Fund, has received interest from the European Bank for Reconstruction and Development. The project passed concept review earlier this month as is up for final approval in early December. If the deal is approved the EBRD will commit to investing up to €60 million in the fund as a cornerstone investor. An initial amount of 25% or €25 million, whichever is greater, will be invested at the fund's first closing.
Posted Wed, 05/08/2009 - 15:41
UAE investment firm Aabar Investments and Austrian holding company Berndorf AG have joined forces in a new joint venture aimed at European investment. The new company, to be incorporated in Austria under the name ABAG Aktiengesellschaft, will target its investments at medium-sized technology and real-estate business. The agreement initially has Aabar providing EUR 100 million in equity funding while Berndorf will contribute EUR 50 million.
Posted Wed, 15/07/2009 - 23:46
Citing renewed confidence in the strengthening Russian economy, the European Bank for Reconstruction and Development (EBRD) has agreed to a USD 50 million (€ 36 million) investment in UFG Asset Management's UFG Private Equity Fund II. UFG Private Equity is to be headed up by Robert Sasson & Charles Ryan both of whom have previous ties to the EBRD.
Posted Fri, 10/07/2009 - 09:15
Genesis Capital, the Prague-based Czech private equity firm, recently announced the first closing of its new fund, Genesis Private Equity Fund II (GPEF II). The total size at first closing is €40 million, with the target size being €60 million. Several investors with a solid track record of activity in the Czech and Slovak Republics have come on board with GPEF II. These investors include Czech banking giant Česká spořitelna, the European Bank for Reconstruction and Development (EBRD), Belgian PE firm Gimv, and global commercial bank Landesbank Baden-Württemberg. Final closing of the fund is expected by the middle of next year.
