May 12 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) is considering investing up to 30 million euro ($41 million) in a regional private equity fund with a target size of 150 million euro and a maximum size of 250 million euro for central and southeast Europe and Turkey, the lender said.
The Bancroft 3 LP fund, to be managed by Bancroft Private Equity, will also make selective investments in Central Asia, the EBRD said in a statement late on Monday.
Investors in the fund may include a range of institutional investors, banks and other private investors, including European and U.S. institutional investors.
The fund will provide capital to companies seeking additional resources for expansion or capital restructuring and will help increase the liquidity of the market at a time when capital is largely unavailable, the EBRD said.
The EBRD financing is pending final review.
($=0.7325 euro)