EBRD and Rabobank Set Up New Private Equity Fund
The European Bank for Reconstruction and Development (EBRD) and Rabobank Group are teaming up to provide a new private equity fund – Resource Eastern European Equity Partners.
The fund will focus primarily on investing in mid-cap agribusinesses in Poland, as well as in other EU member states in central and south-eastern Europe, operating in food processing, manufacturing, retail and logistics sectors, which have been historically underserved by private equity.
Through their collaboration, the EBRD and Rabobank are supporting an team of private equity veterans in this newly established venture, aiming to expand private equity investments activity in the region at a time of significant liquidity constraints and capitalising on the unique investment proposition this offers.
Resource Partners GP, a limited liability company acting as the fund’s general partner, is led by Ryszard Wojtkowski, previously a partner in Enterprise Investors and Carlyle private equity group.
The fund will have a first close of €51m, of which the EBRD and Rabobank are investing €25m each. Resources Partners is contributing €1m. EBRD’s and Rabobank’s respective shares of the fund will be diluted as third-party financing is raised and the Fund reaches its target size of €200m.
To date, the EBRD has committed €2.7bn in various private equity funds investing in countries of the bank’s operations. Since the beginning of its operations in Poland, the EBRD has invested close to €3.8bn in more than 200 projects in various sectors of the country’s economy.