Advent declines to reveal new targets of $40 million investment plan

Under a $40 million investment plan, private equity fund Advent International is to finance two major Polish companies before the end of the year, and fund two additional projects in the first quarter of 2002. The investment in each project is expected to be between $7.5 million and $15 million. Advent's investments in Poland to date include Star Foods, Radio Zet, Hogart, Radio Kolor and most recently, media firm Zone Vision. Advent's CEO in Poland, Marcin Duszynski, declined to reveal the identities or even the spheres of operation of the new investment targets. However, at the beginning of the year Advent announced a change in strategy that will see it withdraw from the new technologies market and instead invest in production and service companies. Commenting on Advent's existing investments, Duszynski said, "These companies have a chance to become market leaders quickly. They need large capital. In such cases, the role of a private equity fund is absolutely apparent." (Puls Biznesu, p. 5) M.K.