Citing the strength of the local ties and reputation Russia’s Bank Evropeiskij enjoys, CapMan Russia Fund has made a significant investment in the regional bank to acquire a 20% stake. The investment is focused on improving Bank Evropeiskij’s market position in its local area, which includes the Kaliningrad region of eastern Russia. CapMan’s investment aids the bank in offering new products and services, including increased consumer lending, to their already loyal customer base.
Bank Evropeiskij
Bank Evropeiskij is a local bank serving both corporate and retail customers in a Baltic region between Poland and Lithuania. Net profits for 2009 were reported at roughly €2 million after provisions. At the end of that same year the bank had some €145 million in total assets and a value in the neighborhood of €15.6 million. Bank Evropeiskij was established in 1991 and employs more than 225 people.
CapMan (www.capman.com)
CapMan is an alternative asset management firm founded in 1989 and active in the Nordic region and Russia. CapMan currently manages a total of 18 funds worth a combined €3.6 billion.
CapMan is a active in the life sciences, manufacturing, medical, retail, IT, and telecom sectors. The fund prefers companies with a €50 million to €500 million annual turnover, investing between €10 million and €50 million per transaction. Investors in the firm’s funds are mostly pension funds, insurance institutions, banks, public organizations, and funds of funds.
In addition to their Helsinki headquarters, CapMan also has offices in Copenhagen, Guernsey, Moscow, Oslo and Stockholm.
16/09/2010
Central & Eastern Europe, Financial Services, Investment, Private Equity News, Russia