November 24 (SeeNews) - Private equity fund Abris Capital Partners said it has raised a new fund of 500 million euro ($592 million) from international investors for projects in Central and Eastern Europe.
"In line with the Abris strategy, new funds will be invested through private companies, especially in Poland and Romania, but also in other regions of Central and Eastern Europe," Abris Capital Partners said in a press release on Thursday.
Since its inception in 2007, Abris has accumulated nearly 1.3 billion euro of capital from investors to finance market opportunities in Central and Eastern Europe. Over the past 10 years, Abris has invested in medium-sized local companies with solid foundation and development potential.
Usually, Abris invests between 30 and 75 million euro in a company, by acquiring the majority stake. The average investment horizon is 3-5 years.
"The new fund is an evidence of our clear commitment in this region. We want to continue to be very active in Romania, benefiting from a greater allocation from the last fund, of 500 million euro. We actively seek to make new investments and support Romanian companies and entrepreneurs to become regional or European champions," , Cezar Scarlat, head of Abris Capital Romania, said.
Since 2012, Abris has made over 25 investments in Romania and other Central and Eastern European countries. Among the companies in Romania that have grown under the umbrella of Abris are courier services provider Urgent Cargus, paper products manufacturer Pehart Group and recycling industrial park Green Group.
($=0.8445 euro)