Advent makes move
Advent International, one of the world's oldest private equity firms, is the sponsor and fund manager for the ACEE III project (Advent Central and Eastern Europe).
The company has collected EUR 330 million to invest in the region and counts Teachers' Private Capital, the European Bank for Reconstruction and Development, and Alpinvest among its investors. Half of the capital, however, comes from players who have not invested in the region before.
The fund's lifetime is estimated at 10 years. "We predict that the average value of the investment will be EUR 25 million," says Khai Tan, the director of Advent International. The fund will invest in two domestic firms per year. The Advent team does not exclude investing in companies already quoted on the stock exchange, which could see these companies being withdrawn from the bourse. In such instances, Advent wants to be the majority shareholder, and ideally keep 100 percent of shares.
"We are interested in companies offering services and products in out-of-city areas. It concerns banks, retail, and agro business. In our view, it is outside the urban area where purchasing power is greater," says Khai Tan.
Advent currently has capital in Star Foods, Euronet, Radio Zet and Bolix. The company intends to leave the latter through a public offer on the WSE before the summer.
The company has collected EUR 330 million to invest in the region and counts Teachers' Private Capital, the European Bank for Reconstruction and Development, and Alpinvest among its investors. Half of the capital, however, comes from players who have not invested in the region before.
The fund's lifetime is estimated at 10 years. "We predict that the average value of the investment will be EUR 25 million," says Khai Tan, the director of Advent International. The fund will invest in two domestic firms per year. The Advent team does not exclude investing in companies already quoted on the stock exchange, which could see these companies being withdrawn from the bourse. In such instances, Advent wants to be the majority shareholder, and ideally keep 100 percent of shares.
"We are interested in companies offering services and products in out-of-city areas. It concerns banks, retail, and agro business. In our view, it is outside the urban area where purchasing power is greater," says Khai Tan.
Advent currently has capital in Star Foods, Euronet, Radio Zet and Bolix. The company intends to leave the latter through a public offer on the WSE before the summer.
