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Mid Europa Partners announces first close in excess of €1 billion to establish largest Central European buyout fund

05 September 2007

Mid Europa Partners ("Mid Europa"), the private equity firm focused on buyouts in Central Europe, announces today that it has obtained capital commitments in excess of €1 billion for the successful first close of its third fund, Mid Europa Fund III LP ( "Fund III"), the largest CEE buyout fund to date. Fund III was launched in May 2007.

MVision Private Equity Advisers is acting as global placement agent. Mid Europa has voluntarily capped Fund III at € 1.5 billion of capital commitments, which Mid Europa expects to achieve in the 4th quarter of 2007.

Thierry Baudon, Mid Europa Managing Partner said: "We are very pleased to welcome back our existing investors and in addition a number of new investors, many of whom have selected Mid Europa for their first fund investment in Central Europe. The excellent response to our first round of fund-raising for Fund III is a reflection of the results Mid Europa has shown to date. Investors recognise both the scale of the buyout opportunities in Central Europe and our ability as a market leader to realise them. The increased fund size will ensure that Mid Europa is well positioned to exploit the increasing deal flow available to it."

Mid Europa will continue to take control stakes in leading Central European companies operating in sectors with high barriers to entry. The Firm will typically invest between €50 million to €200 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 approximately €2.1 billion (US$ 2.8 billion).  

Thierry Baudon, together with partner Craig Butcher, leads a team of 18 investment professionals that has worked together since 1999 operating from offices in London, Budapest and Warsaw.

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