Summary of Proposed Investment
Project Number
8778
Company Name
ADVENT CENTRAL AND EASTERN EUROPE II L.P.
Date SPI Disclosed
Mar 13, 1998
Country
World Region
Industry
other
Status
Completed
Sector
Private Equity/Venture Cap Fund - Regional
Department
Equity Portfolio Management
Environmental Category
FI
Previous Events
Approved : Apr 23, 1998
Signed : May 27, 1998
Invested : May 29, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Regional-Advent Central and Eastern Europe II (ACEE 2) |
| Region | Europe |
| Sector |
Projected Board DateApril 16, 1998
Company NameAdvent Central and Eastern Europe II (ACEE 2)
Technical Partner and/or Major Shareholders
Advent is a leading Boston-based private equity and venture capital investment management company and the overall sponsor and fund manager of APEF-CE, a US$106.5 million two-tier venture capital program for Eastern Europe, the predecessor of the ACEE 2 fund.
Project Cost Including Proposed IFC Investment
Target Fund Size - US$150 million. Proposed IFC equity investment - US$15 million.
Location of Project and Description of Site
The Fund’s investment region will cover Romania, Croatia, Poland, Czech Republic, Slovak Republic and Hungary. The Fund may also invest, on an opportunistic basis, in Moldova, the Baltic States and elsewhere in Eastern Europe.
Description of Company and Purpose of Project
Advent Central and Eastern Europe II (“ACEE 2” or “the Fund”) is a US$150 million successor to the Advent Private Equity Fund-Central Europe (APEF-CE) program. This new private equity Fund will continue the successful investment program that Advent International Corporation (“Advent”) has established with IFC’s help in Central Europe. IFC has played a key role in getting the sponsors to extend the Fund’s investment region to cover frontier economies such as Romania, Croatia, Moldova, Macedonia, Bulgaria and Ukraine. The new Fund would have the following development impact: (a) supporting the growth of efficient capital markets and productive private enterprise, especially SMEs; (b) transfer of technology, know-how and skills; (c) catalyst for follow-on investments and assistance in private placements and public listings; and (d) demonstration effect, of successful fund management.
Environmental Category and Issues
This is a Financial Intermediary (FI) category project according to IFC’s environmental review procedure. The Fund will be required to undertake an environmental review of eligible investee companies’ operations. In addition, IFC will assess the Fund’s capability to carry out environmental reviews of each investee company.
| Date SPI sent to InfoShop | March 13, 1998 |
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Sponsor / Cost / Location
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