SGAM raises E80m for Eastern Europe

Société Générale Asset Management Alternative Investments (SGAM AI) has raised €80m on the first closing of its Eastern European fund. SGAM Eastern Europe will target mid-market companies in Central Europe and the Balkans, focusing on buyout transactions and expansion capital. Investors in the fund include Société Générale and the European Bank for Reconstruction & Development.

The fund was launched in November, and aims to raise €150m. It follows on from SGAM’s two previous funds which targeted the region. The Baltics Republic Fund has invested in private equity in the Baltic countries since 1994 investing over US$100m in 30 companies, and the SocGen Romania Fund started investing in 1997 and has invested US$42m in 18 companies.

The closing comes just a few weeks after SGAM AI announced it had acquired Baring Corilius Private Equity. That purchase gave SGAM AI a 10-strong team, based in Poland and Romania with a presence in Paris.