The EBRD has decided to go for a second course of the Avallon MBO Fund
with a kitty of EUR 27 mln this time. The transaction-specific fund
will focus on MBOs and buy-ins in the small to medium-sized businesses,
and aims to hit EUR 107 mln in investments. The Avallon II is following
in the footsteps of its predecessor the Avallon MBO Fund I, at which
time EBRD put up a EUR 12 mln stake. Being cornerstone investors this
time around has enhanced their active support for developing PE assets
and stirring up private investment. The strategic benefit to the bank is
the trend of management ownership being encouraged in the region. The
fund will focus on Poland and other CEE nations, with the former
dominating its portfolio.
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