Financed ProjectsEquifund

Identification Code:

OP/17/0033

Total Operation Cost:

0

Maturity:

120 months

Operation Status:

Description and Purpose of the Operation:

The Bank has been invited by the EIF to consider making an equity investment either in the Equifund or directly in one or more sub-funds of the Equifund, i.e. private equity funds in Greece, as a co-investor alongside the EIF and EIB. The EIF approved 9 private equity funds, on the basis of extensive due diligence that was completed in 1Q 2018. The Bank selected to invest in one fund, under the growth window, the EOS Hellenic Renaissance Fund. The purpose of the Operation is to finance investments of Greek SMEs, active in sectors such as: food & beverage, hospitality services, energy efficiency, pharmaceuticals, fintech, selectively retail and industrials

Countries of Operation:

Greece (100,00 %)

Financial Product:

Equity Investments

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

EOS Hellenic Renaissance Fund (Luxembourg)

Co-Financiers/Participants:

EIF, EIB and private investors

Guarantors/Sponsors:

n/a

Developmental and Regional Cooperation Impact:

The Bank will invest, through the Fund, in Greek SMEs with high growth and export potential and enable them to successfully implement investment plans aiming to create added value to the Greek economy and respective local communities.

Environmental Classification and Impact (summary):

Category FI. The findings of the E&S due diligence concluded that the Fund’s E&S risk management system is basic but which covers the critical aspects of its business and it meets the requirements of the European Investment Fund. The level of integration into the overall portfolio management, and analysis by E&S risk category was found satisfactory. The Fund occasionally legally requires its Clients to follow such E&S requirements, and it adopted an Exclusion List similar to the BSTDB’s one. The overall responsibility for E&S issues has been assigned to a dedicated staff, who reports directly to the BoD.

Operation Leader:

General Industries, Transport, Tourism 1

E-mail:

gitt1@bstdb.org