Aureos Central Asia Fund LLC

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The EBRD is considering an equity investment of up to USD 10 million to but not exceeding 10% of total aggregate capital commitments of Aureos Central Asia Fund (the “Fund”). Aueros Central Asia Fund is a private equity fund established in March 2007 to focus on equity and quasi-equity investments in fast growing medium-sized enterprises in Central Asia (Kazakhstan, Uzbekistan, Kyrgyz Republic, Turkmenistan and Tajikistan), Azerbaijan and Georgia. The Fund is seeking long-term capital appreciation by providing growth capital to middle market companies that exhibit established profitable business models, have strong management teams and demonstrate potential to become market leaders. At least 70% of the Fund’s capital will be invested in Kazakhstan with the remaining amount in the other target countries. The Fund will consider investments in the range of USD 2 to 10 million per company. The Fund will support the development of private companies in the targeted countries by adopting a hands-on approach and transferring operational and strategic expertise and know-how. The transition impact of the proposed project will be most pronounced in the following four areas: The Fund is managed by Aureos Central Asia Managers Ltd, a private company with limited liability incorporated under the laws of Mauritius and wholly owned by Aureos Capital Limited. Aureos Capital Limited is a manager of private equity funds focused on making investments in medium-sized enterprises in the emerging markets. The EBRD proposes an equity investment of up to USD 10 million to the Fund but not exceeding 10% of total aggregate capital commitments. The Fund’s target size is estimated at USD 100 million for the final closing. The Fund has adopted Business Principles and Environmental and Social Management procedures, which include Referral and Exclusion Lists, adequate environmental due diligence, monitoring procedures and compliance requirement of each sub-project with relevant national environmental, health, safety and labour standards and requirements. The Fund will be required to submit an Annual Environmental Report to the EBRD. None. Mr. Talgat Kukenov, Managing Partner E-mail: tkukenov@aureos.com Aureos Kazakhstan Advisers Limited 7 Al Farabi Avenue Nurly Tau Business Centre Building 4A, Office 14 Almaty Kazakhstan Tel: +7 7273110288/87 Website: http://www.aureos.com