Turkish Private Equity Fund

completed

The Fund, one of the first of its kind in Turkey, will invest in enterprises looking for expansion capital. It will also seek acquisition opportunities for investment. The Fund is expected to create a diversified portfolio in industries driven by growth, exports, and deregulation.Investing in a private equity fund in Turkey has long been a part of IFC''s financial markets strategy in Turkey, as a necessary complement to the loan funding that IFC has made available through commercial banks. The development impact of this project is particularly pronounced in Turkey where the availability of private equity has historically been limited. Currently Turkey is in the middle of a financial crisis, which has greatly reduced the bank credits available to real sector companies in Turkey. Such an environment increases the importance of private equity funds in the economy.IFC has been active in helping structure the Fund and in guiding the project sponsors. In addition, IFC has introduced TVP to Advent. IFC''s participation on the Advisory Board of the Fund will also provide significant comfort to potential investors, who value IFC''s experience in project finance, emerging market venture capital funds in Turkey, as well as its due diligence discipline.