Preqin data reveals that there are currently 61 private equity vehicles being raised, focused exclusively on CEE/CIS countries, and targeting an aggregate EUR 10.7 billion. 37% of these funds have already had at least one interim close attracting an aggregate capital of EUR 5.4 billion.
Venture funds account for the largest number of funds on the road, with 21 currently seeking EUR 2 billion. Real estate funds are the second most numerous with 18 funds currently on the road, and are also targeting the largest aggregate amount of capital – EUR 3.8 billion. Buyout funds are the third most numerous, with 7 vehicles targeting an aggregate EUR 1.5 billion.
The largest fund currently on the road and focusing on CEE/CIS region is Macquarie Renaissance Infrastructure Fund. The vehicle is a 50:50 joint venture between Macquarie Capital and Renaissance Capital. It is targeting total investor commitments in excess of USD 1 billion to invest in infrastructure markets in Russia and the Commonwealth of Independent States (CIS).
In 2010 to date there have been 4 final closes achieved by CEE/CIS-focused funds, with a total of EUR 397 million in capital commitments.
The largest fund to close so far this year is UFG Private Equity Fund II, which achieved a final close of USD 225 (EUR 179) million in July 2010. The fund targets buyouts, growth capital and industry consolidation opportunities primarily in Russia and also in the neighbouring countries of the CIS.
For more information on private equity fundraising, please see Preqin’s product.
Funds in Market