Infrastructure Fundraising and Deal Flow in Eastern Europe

by Louise Taggart

  • 15 Feb 2011
  • INF

There are details of 80 deals completed by unlisted infrastructure fund managers in assets located in Eastern Europe on Preqin’s Infrastructure Online database, the first of which was completed in 1996 by AIG Brunswick Millennium Fund. One bid has already been made in an East European asset in 2011, EQT Infrastructure’s bid to acquire Emitel, a Polish telecommunications company. Another recent notable deal involves the purchase of Czech telecommunications company Radiokomunikace in December 2010 by Macquarie European Infrastructure Fund II and III; the deal was worth EUR 574 million.

Of the 80 deals featured on Preqin’s database, 20 involved assets located in Poland, 14 took place in the Czech Republic, nine in the Russian Federation, and eight apiece in Slovakia and Turkey. A further 21 have taken place in Bulgaria (four), Croatia (three), Estonia (two), Georgia (two), Hungary (four), Romania (two) and Slovenia (four).

The deals market had been dominated by core infrastructure sectors, with 25 deals involving energy assets, 25 involving telecommunications assets, and 24 involving the transportation sector.

51% were in the secondary stage of development, 23% of assets were in the brownfield stage and 26% were in greenfield stage.

Preqin data shows that there are currently three unlisted infrastructure funds on the road with a geographic focus on Eastern Europe, targeting aggregate capital of USD 1.2 billion. Of these funds, one has held an interim close and is in a position to invest capital. A further seven unlisted infrastructure funds targeting Eastern Europe have already held final closes, raising a combined USD 2.9 billion.

For more information on deals completed by unlisted infrastructure fund managers, please take a demo of our Infrastructure Online service.

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