BlackPeak Southeast Europe Growth Equity Fund II (EBRD-57328)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Bulgaria
  • Croatia
  • Romania
  • Serbia
  • Slovenia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Bulgaria, Croatia, Romania, Serbia, Slovenia, and other countries in Central and Southeastern Europe
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
Jul 8, 2026
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.
Borrower
BLACKPEAK SOUTHEAST EUROPE GROWTH EQUITY FUND II SCSP
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 34.91 million
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.
Currency conversion note:
Bank reported 30
Converted using 2026-06-01 exchange rate.
Project Cost (USD)
$ 174.53 million
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.
Currency conversion note:
Bank reported 150
Converted using 2026-06-01 exchange rate.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 21, 2026

Disclosed by Bank Jun 1, 2026

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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.

According to the Bank’s website, the project consists of  an equity commitment of up to EUR 30 million in favour of BlackPeak Southeast Europe Growth Equity Fund II SCSp (the "Fund"). The general partner of the Fund will be BlackPeak General Partner II S.a.r.l. (the "General Partner"), incorporated in Luxembourg.

The Fund will pursue a generalist strategy, investing in equity and equity-related investments in small and medium-sized enterprises (SMEs) and mid-cap companies primarily in Bulgaria, Croatia, Romania, Serbia and Slovenia, and secondarily in other countries in Central and Southeastern Europe. The Fund's objective is to generate long-term capital appreciation by targeting significant minority stakes or, alternatively, majority/ control positions.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Categorised FI (ESP 2024). BlackPeak is an existing partner of the Bank and follows the respective EBRD's Performance Requirements on its predecessor fund. BlackPeak Southeast Europe Growth Equity Fund II is expected to have a similar low-medium risk profile as its predecessor, based on the Fund's mandate and target portfolio companies. The main E&S risks are related to the application of the Fund's Environmental and Social Management System ("ESMS") to its investees.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

An equity commitment of up to EUR 30 million in the Fund.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

The fund is BlackPeak Southeast Europe Growth Equity Fund II SCSp. The general partner of the Fund will be BlackPeak General Partner II S.a.r.l., incorporated in Luxembourg.

The Fund will be formed as a special limited partnership under the laws of Luxembourg.


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.

Rossen Ivanov
ri@blackpeak-capital.com
00359885046830
www.blackpeak-capital.com
Green Tower, 19th Floor, 4 Mihail Tenev Str. 1784 Sofia, Bulgaria

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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

How it works

How it works