EMF New Europe Insurance Fund

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The EBRD is considering an investment in EMF New Europe Insurance Fund (the “Fund”), a private equity fund focused on investment in companies operating in insurance or insurance-related sectors with the objective of achieving long-term capital growth. EBRD investment will support the Fund in developing investments in Turkey, Ukraine, the western Balkans, the south Caucasus, Moldova and Belarus. The transition impact is derived from supporting a private equity fund which can provide access to equity finance and sector-specific strategic input to its investee companies, whilst instilling strong corporate governance practices. The Bank would invest in EMF NEIF (A) L.P., a limited partnership established in England. The limited partnership has as its general partner EMF NEIF (GP) Limited, a limited company incorporated in Jersey. The general partner is advised by EMF Capital (UK) Limited, a limited company incorporated in England, which is authorized and regulated by the Financial Conduct Authority and focused solely on private equity investment in financial services in emerging markets. The EBRD is considering an equity investment of USD 20 million. The fund is targeting total commitments of up to USD 150 million. Categorised FI: The Fund will be required to comply with the EBRD's Performance Requirement 2 (Labour and Working Conditions) and Performance Requirement 9 (Financial Intermediaries). The Fund will be required to implement the agreed Environmental and Social Action Plan in order to meet the E&S requirements of the EBRD. The Fund will also submit Annual Environmental and Social Reports to the Bank. None. Peter Lovas, CEO Email: info@emfcp.com