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This project finances an investment in a Greek corporate restructuring platform vehicle which manages the credit exposures of a select number of companies under restructuring. EBRD will also be providing expertise in corporate governance.
The platform vehicle is being managed by Pillarstone, the pan-European platform launched by KKR Credit. Eurobank and Alpha Bank, two of the largest Greek banks, are currently part of the transaction. KKR Credit is part of KKR & Co. L.P., a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds.
The EBRD categorized the project risk as 'FI'.
As stated by the EBRD, Alpha Bank AE is the third largest (in terms of assets) with total assets of EUR 69 billion (c. 18% market share) at YE2015.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds.
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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.