EBRD Joins Forces with Rabobank in New Private Equity Fund To Target EU Members in Central, SE Europe

The Resource Eastern European Equity Partners I, LP will focus primarily on investing in mid-cap food and agribusinesses in Poland, as well as in other European Union member states in central and south-eastern Europe, operating in food processing, manufacturing, retail and logistics sectors, which have been historically underserved by private equity, the EBRD said in a statement on its website.

Limited liability company Resource Partners GP Ltd is acting as the Fund’s general partner.

The Fund will have a first close of 51 million euro ($76.4 million), of which the EBRD and Rabobank Group are investing 25 million euro each. Resources Partners GP is contributing 1.0 million euro. EBRD’s and Rabobank Group’s respective shares of the Fund will be diluted as third-party financing is raised and the Fund reaches its target size of 200 million euro.

“This project will bring the much needed resources and knowledge to support the development of prospective businesses in the current more challenging times,” Nick Tesseyman, EBRD Business Group Director for Financial Institutions and Private Equity, said in the statement.

Poland, the Czech Republic, Hungary and Slovakia are the EU member states in central Europe. In Southeast Europe, Bulgaria, Romania and Slovenia have so far joined the bloc.

($=0.6677 euro)