SigmaBleyzer has EUR 51 mn for Romania, Bulgaria and Ukraine 

Ziarul Financiar

by Vlad Nicolaescu

US Company SigmaBleyzer specialized in managing investment funds in Central and Eastern Europe has succeeded in raising the fourth fund, which will seek investments in Romania, along Bulgaria and Ukraine.

The Americans, which announced the beginning of raising activities for SigmaBleyzer Southeast European Fund IV (SBF IV) more than two years ago, has succeeded in raising EUR 51 million from investors and plan to reach EUR 200-250 million by attracting new investors. The managers say that the amount the fund will attract as investments in the three countries could exceed the net assets of the fund, as the investors have the option to directly invest in companies where the fund will invest.

The American businessman of Ukrainian origin Michael Bleyzer, one of the company co-founders says that the new fund will seek investment preferably in companies from the food and industry, IT&C, consumer goods, and pharmaceuticals. These are also the areas where the other three funds managed by SigmaBleyzer have already invested.

Company manages three other funds which invested approximately EUR 100 million in Ukraine, now reaching assets of EUR 200 million. “We will mainly look for companies that do not need large capital infusions as we believe that is the responsibility of a strategic investor. We buy majority stakes in these companies, restructure them and then sell them to strategic investors. We do not exclude capital increases, but they will most probably not exceed the initial investment” says Michael Bleyzer, president of the company. He added that he expects to close first investment in Romania by the end of this year.

SigmaBleyzer opened last year an office in Bucharest after opening one year before an office in Sofia. The Americans are present in Ukraine since 1996.

This year marked an increase in fund managers’ interest for the Central and Eastern Europe, interest felt also in Romania. According to estimates of fund managers the amount available for investments in Romanian companies is around half of a billion Euros. Among funds launched this year seeking investments in Romania are GED Eastern Fund II of the Spanish GED Capital development, Advent Central and Eastern Europe III (ACE III) worth EUR330 mn managed by US company Advent International and Balkan Accession Fund with an initial value of EUR 20 mn launched at the initiative of the managers of the Romanian-American Investment Fund and Bulgarian-American Investment Fund.