Over the last five years CRG has achieved average returns in excess of 30% IRR and has a strong track record of successfully restructuring and selling assets from dedicated CEE funds.
The new fund will be managed out of Vienna by Parham Pouladdej, managing partner of CRG’s subsidiary,
Stephen Gray , managing partner of CRG Partners, said: “Lengthy experience in the CEE region has shown us that it is one of the most fertile and exciting markets for distressed investment. Working in partnership with RZB’s unparalleled network in the region, we are excited about prospects for this new Fund.
Martin Lang, board member of RZB Private Equity Holding, added: “CRG and RZB both look back on a long history as professional investors in this asset class and a successfully proven partnership. We therefore are confident that our new project will become a great success story too.”
CRG Partners is a provider of turnaround and crisis management to middle-market companies, their creditors and investors. CRG’s services include interim management; operational and financial advisory services; bankruptcy support; merger, acquisition and due diligence support; real estate maximisation and performance improvement. The group is active in the US and Europe.
CRG Partners is the result of the merger in June 2007 between Corporate Revitalisation Partners and TRG. CRG has been working successfully on corporate recovery and investment in the rapidly developing countries of Central and Eastern Europe for 16 years.