EBRD sees $150m Horizon

The bank is considering an equity investment of up to $30m in Horizon Capital Advisors’ Emerging Europe Growth Fund III.

The European Bank for Reconstruction and Development (EBRD) may inject up to $30m in the Emerging Europe Growth Fund III, managed by Horizon Capital Advisors.

EBRD’s investment would be made with a view of supporting small and medium-sized enterprises and mid-market businesses in Ukraine and Moldova. The bank is expected to make its final decision during a review by the board on May 4.

Horizon Capital is targeting a $150m close for the fund, which will make long-term and quasi-equity investments.

Overseas Private Investment Corporation (Opic), the international development agency of the US government, said in June 2016 it would supply up to $37.5m to the fund over a period of 10 years.

The fund follows the $132m Emerging Europe Growth Fund established in 2006 and Emerging Europe Growth Fund II, established in 2008 with $370m in capital.

See more from this Government Report: European Bank for Reconstruction and Development (EBRD)

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