PERA Capital Partners Fund

signed

The EBRD is considering providing an equity investment of up to €15 million in Pera Capital Partners Fund I L.P. (the “Fund”), a private equity investment fund, to be registered as a limited partnership under the laws of the Guernsey. This Fund is a first-generation, country focussed investment fund with the objective of making multi-sector growth capital and selective buy-out investments predominantly into small and medium sized enterprises in Turkey. The transition impact and demonstration effects associated with this potential investment are expected to include: (a) building local institutional quality private equity management capable of providing disciplined risk capital to fast growing SME enterprises in Turkey; (b) increased penetration of private equity financing in Turkey thereby contributing to the development of sophisticated financial intermediation and the provision of additional sources of long term risk capital to SME enterprises in Turkey. (c) transfer of technical, financial and operational know-how to portfolio companies through (i) strategic guidance (ii) focus on enterprise value drivers (iii) management incentives (iv) improvements to financial and operational management and reporting and (v) access to management and professional talent. (d) improving and enhancing transparency and good corporate governance in portfolio companies through the promotion of international best practices. The Fund will be managed by Pera Capital Partners GP Limited, a limited liability company to be incorporated under the laws of Guernsey, which will be owned by the management team. The EBRD is proposing to make an equity investment of up to €15 million. The target Fund size is €120 million at final closing. The project has been assigned a screening category of FI, as the EBRD financing is via a financial intermediary. The Fund shall comply with the EBRD's Performance Requirement 2 (Labour and Working Conditions) and Performance Requirement 9 (Financial Intermediaries). The Fund shall ensure portfolio companies comply with national environmental and OHS and labour standards. The Fund will be required to adhere to the EBRD's Environmental and Social Exclusion and Referral lists, and submit annual environmental and social reports to the EBRD. None. Robert Romain, Managing Partner Pera Capital Partners E-mail: robert.romain@peracap.com Kerim Yalman, Managing Partner Pera Capital Partners E-mail: kerim.yalman@peracap.com Astoria İş Merkezi 127 Büyükdere Cad. Kat 14 Suite 1401 34394 Esentepe, Istanbul Turkey Tel: +90 (212) 215 2400