This project is still under review by the EWS. Project information and/or project analysis may be incomplete.
Turkven Private Equity Fund III (EBRD-43377)

Countries
  • Turkiye
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jan 31, 2012
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Disclosed by Bank Dec 21, 2011


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
PROJECT DESCRIPTION The EBRD is considering providing an equity investment of up to EUR50 million to Turkish Private Equity Fund III. ("TPEF III" or the "Fund"), a private equity investment fund to be registered as a Guernsey limited partnership. TRANSITION IMPACT The Fund Manager is expected to achieve strong transition impact through:(i) Accelerating the growth and development of high potential Turkish middle-market companies through the provision of expansion capital and operational support.(ii) Increasing the profile of private equity as a valuable source of capital to entrepreneurs.(iii) Demonstrating the attractiveness of Turkey as a private equity investment destination. THE CLIENT The Fund will be managed by Turk Venture Partners III Limited (the "GP" or "Fund Manager"), a Guernsey limited company.Turkven is the most experienced and longest established independent private equity firm in Turkey. Since its founding in 2000, it has built the largest Turkish on-the-ground presence of any private equity firm and developed an extensive track record of hands-on working with its portfolio companies on operational issues. EBRD FINANCE Equity investment of USD 25 million. PROJECT COST The target size of the Fund is USD 840 million. ENVIRONMENTAL IMPACT Categorised FI.The Fund will be required to comply with EBRD Performance Requirements 2 (Labour and Working Conditions) and 9 (Financial Intermediaries) and implement the EBRD's Environmental and Social Procedures for Active Equity Investments. The Fund should ensure investee companies comply with national environmental, OHS, social and labour standards.The Fund will be required submit annual environmental and social reports to the Bank. TECHNICAL COOPERATION None. COMPANY CONTACT Seymur Tari, Managing DirectorTurkven Private EquityMuallim Naci Cad No. 40Ortakoy Istanbul Turkey 34347Tel: +90-212-326-8400Fax: +90-212-326-8484
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.

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