• News

Latest Press Releases

Mid Europa Partners (formerly known as EMP Europe) announces €650 million final close to establish largest Central European buyout fund

09 January 2006

The Fund, a Guernsey Limited Partnership whose general partner is EMP Europe Management (CI) L.P, was launched in May 2005 and MVision Private Equity Advisers, with offices in London and New York, acted as global placement agent. The fund's original target was € 500 million.

Mid Europa secured commitments from a number of leading existing and new investors, including Alpinvest, ABN-Amro, GIC, AIG Global Investment Group, AXA, MetLife, MN Services, and Citigroup. Commitments were also secured from the European Bank for Reconstruction and Development, the European Investment Bank and the International Finance Corporation. In aggregate, approximately half of the commitments came from pension plans and government-related entities, with the remainder evenly spread among funds-of-funds, banks, insurance companies, and endowments and foundations. European investors provided about 60% of total commitments and US investors 30% with the balance coming from the Asia Pacific region.

Commenting on the fundraising, Thierry Baudon, Mid Europa Managing Partner said: "We are very pleased with the quality and diversity of investors who committed to our second fund, the first one we raised as Mid Europa Partners. The size of this fund reflects the recognition that significant opportunities exist in Central Europe, which is set to enter a new growth phase as integration with Western Europe deepens. We were very pleased with the continued support from existing investors, and are delighted to welcome many new investors, including several that have chosen to commit to Mid Europa as their first relationship in Central Europe".

Mid Europa will continue to take stakes in leading Central European companies operating in sectors with high barriers to entry. The Firm will typically invest between €25 million to €100 million in cash-flow generative companies with enterprise values of up to €1 billion. Mid Europa currently advises and manages funds with committed capital of about €1.1 billion (US$ 1.3 billion).

Thierry Baudon together with partners Craig Butcher and Colin Hewett lead a team of 12 investment professionals operating from offices in London, Budapest and Warsaw that has worked together since 1999. "This successful fundraising, the largest to date by any manager focused on the region, is testimony to the rapidly improving investment climate in which we operate and leaves us better equipped than ever to deliver long-term value creation alongside the management teams of our portfolio companies" said Baudon.

In December 2005, Mid Europa announced an agreement to buy Aster, a leading provider of media and communication services in Poland, from Hicks Muse Tate & Furst. The transaction is expected to close in February 2006.

Back to news article results list