The EBRD has announced it is considering participation in the new Volga River Growth Fund, a mezzanine fund targeted at Russia and the CIS. The fund’s target size is USD 250 million, with the EBRD providing up to USD 50 million. Other institutional investors from America and Europe are expected to also commit funds to the project.
Volga River Growth Fund
The Volga River Growth Fund will focus on opportunities in the consumer goods, entertainment and media, information technology, manufacturing, and retail sectors, with the average investment of USD 10 to 50 million per project. The fund aims to expand the market share of portfolio companies while also restructuring and improving corporate governance. The project is pending a performance review with the next Board date set for May 2010.
16/03/2010
Central & Eastern Europe, Financial Services, Fundraising, Private Equity News, Russia