Emerging Europe (CEE/CIS)
Please find below a sampling of some of the latest EMPEA statistics, programs and content covering information on the CEE and CIS regions. For a more comprehensive listing, please search “CEE” or CIS” and customizable criteria in Advanced Search. Scroll down for additional data and resources.
EMPEA Announces Barış Öney as EMPEA Country Representative – Turkey
EMPEA is delighted to announce the appointment of Barış Öney, Founder and Managing Partner of EMPEA Member Firm Globalturk Capital, as EMPEA Country Representative – Turkey. Drawing on his long-term experience and expertise in the market, Mr. Öney will support EMPEA’s industry advocacy within Turkey and regionally, emphasizing the importance of private capital investment for sustainable economic development.
For a prime example of the gap between the macro risks of a country, actual or perceived, and the reality on the ground of private capital investment opportunities, look no further than Turkey, a US$861 billion GDP economy with a population of nearly 80 million people and a median age of 31.
CEE and CIS Data Insight (Q1 2017) Fund managers raised nearly US$1.4 billion for CEE and CIS-focused vehicles through the first three quarters of 2016, already doubling last year’s fundraising total of US$678 million. Despite the recent political turmoil, Turkey-focused funds represented 44% of all capital raised for CEE and CIS in Q1-Q3 2016—compared to just 5% in 2015—including the US$486 million final close of The Abraaj Group’s Turkey Fund I, as well as the EUR110 million (US$122 million) first close of Taxim Capital’s inaugural fund. This influx of capital could jumpstart Turkey’s decelerating investment market, as capital invested fell to US$45 million through nine deals in Q1-Q3 2016, representing year-on-year declines of 60% and 44%, respectively. Source: EMPEA, 2017
CEE & CIS Fundraising and Investment
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EMPEA’s Industry Partners Active in Emerging Europe (CEE/CIS)
AIFM Directive Implementation: Fund Marketing
The European Private Equity and Venture Capital Association (EVCA) published an analysis of the circumstances under which European and non-European private equity fund managers are able to market their funds under national placement rules across Europe as of 22 July 2013. This is the day the EU Alternative Investment Fund Managers Directive took effect in national law. Source: EMPEA, 2014
Inside Perspectives: An Interview with Staffan Jåfs of eQ Private Equity
Staffan Jåfs, Head of Private Equity at eQ Asset Management, shares his thoughts on notable private equity trends developing across Central and Eastern Europe (CEE), Russia and the Commonwealth of Independent States (CIS), and discusses which factors are most important to his firm in the fund selection process. Source: EMPEA, May 2013
EMPEA Brief: European Bank Deleveraging – Opportunities and Challenges for EM PE investors
This EMPEA Brief explores the impact of European bank deleveraging on the emerging markets, with a view toward identifying the opportunities and challenges the process presents to PE investors. The article examines the drivers and scale of European bank deleveraging, and quantifies the impact of deleveraging across all emerging market regions. Source: EM PE Review, October 2012
Inside Perspectives: An Interview with Michael Calvey of Baring Vostok
Michael Calvey, Founder and Senior Partner of Baring Vostok, shares his perspectives on the private equity landscape in Russia and the Commonwealth of Independent States (CIS), and discusses some memorable transactions throughout his career in the region. Baring Vostok is one of the oldest and largest private equity firms focusing on Russia and the CIS; it recently closed its fifth fund with US$1.5 billion in aggregate capital commitments, constituting the largest fund raised for the region to date. Source: EMPEA, March 2013
EMPEA Professional Development Webcast – Investment Spotlight: Emerging Europe
In this EMPEA Professional Development Webcast, our panel of industry experts discuss the current state of the market and the impact of the Eurozone crisis on the region; the effects of the crisis on fundraising, investment activity and deal flow, portfolio management and exits; and the changing Emerging Europe investment landscape and 2012 private equity outlook. Source: EMPEA, March 2012
EMPEA Insight: Turkey
Turkey’s unique geographic location has long been one of its defining characteristics: a country positioned at the nexus of civilizations and trade routes. While its recent history has been one of macroeconomic volatility, today, Turkey is widely perceived as an island of stability standing between two regions facing immense challenges. Source: EMPEA 2012.
Impact Case Study: Platinum Bank (Ukraine)
In 2004, recognizing the potential of Ukraine’s under-penetrated mortgage market, private equity fund manager Horizon Capital founded Platinum Bank. After rapid growth and a successful merger, the bank doubled its assets and expanded its retail network. Through Horizon Capital’s active ownership, Platinum Bank successfully navigated the global financial crisis and transformed into one of Ukraine’s fastest growing diversified consumer lenders, with a 35% compound annual growth rate in its retail unsecured loan portfolio. Source: EMPEA 2012
Impact Case Study: Sanitas Group (Lithuania, Poland and broader Central and Eastern Europe)
Looking to raise capital to complete an acquisition, Sanitas Group, Lithuania’s largest drug producer, partnered with a private equity consortium led by CVCI Private Equity. Receiving a total investment of EUR50 million between 2006 and 2008, the company was able to complete its acquisition of Polish drug maker Jelfa, S.A., adding more than 100 formulations to Sanitas’s product offering and giving the company a significant presence in Poland, Russia and Ukraine. During Sanitas’s partnership with CVCI Private Equity, the company grew its headcount of skilled workers, improved its drug safety standards and increased its development of complex products for which patients had few affordable alternatives. Source: EMPEA 2012
Better than Her Reputation? A Closer Look at Russia’s Private Equity Landscape
According to the annual EMPEA/Coller Capital Emerging Markets Private Equity Survey, Russia has ranked at the bottom of all emerging markets in terms of investment attractiveness for the past three years. However, market participants assert that global impressions of Russia are not aligned with reality. This article aims to address this perception gap by taking a closer look at Russia’s private equity environment in the context of its macroeconomic fundamentals. Source: EM PE Review, April 2011