Advent Central and Eastern Europe III L.P.

completed

This project is a proposed IFC investment of up to €15 million in Advent Central and Eastern Europe III L.P. (ACEEIII), a new regional private equity fund managed by Advent International (Advent). The purpose of the fund is to achieve significant capital appreciation from a portfolio of expansion-stage and buy-out investments in selected countries in Central and Eastern Europe. The approach of ACEEIII will be two-fold. One focus will be on industry restructuring through acquisitions, and particularly buy-outs, in a size range that will enable the fund to invest €20-40 million. The second focus will be on smaller development and expansion opportunities in the €10-20 million range, particularly in second-wave accession countries, which are less-developed in terms of industry restructuring. ACEEIII follows the proven track records of two predecessor funds (in which IFC has invested), and will be managed by a team whose members, in majority, have worked together for more than six years.