Turkey

Private equity and venture capital news from Turkey

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• UK private equity firm Bridgepoint to acquire 33 per cent of Turkish vehicle testing company 29 Sep 2009. Source: AltAssets. London private equity firm Bridgepoint Capital Group is set to acquire a 33 per cent stake in Turkish vehicle testing company Tüvturk, according to the Financial Times. The acquisition would be the firm’s first Turkish investment, and would be the largest private equity investment in Turkey so far this year.

• Turkish private equity firm RHEA Investments buys controlling stake in listed VCT 08 Sep 2009. Source: AltAssets. Istanbul-based RHEA Investments, a private investment and asset management firm with interests in real estate, healthcare, renewable energy and agriculture, has purchased a controlling stake in Vakif Venture Capital Investment Trust, an Istanbul Stock Exchange-listed joint stock company.

• ADM Capital seeks €300m for recovery fund 11 Aug 2009. Source: AltAssets. ADM Capital is seeking €300m for its recovery fund focusing on Central and Eastern Europe, Central Asia and Turkey (CEECAT).

• Bancroft raises €250m third fund, hires Agis Hiliarhopoulos 28 Apr 2008. Source: AltAssets. CEE and Turkey-focused private equity firm Bancroft Private Equity has confirmed that it is raising its third fund, Bancroft 3. The fund has a target of €250m and is expected to hold a first closing shortly.

• Blackstone appoints Kemal Kaya as senior advisor in Turkey 17 Apr 2008. Source: AltAssets. The Blackstone Group has appointed Kemal Kaya as a senior advisor based in the firm's Turkey office. As part of Blackstone's global private equity team, Kaya will focus principally on developing business initiatives and advising the firm on potential transactions in the region.

• AIG Capital Partners sells AFM Cinemas in Turkey 29 Feb 2008. Source: AltAssets. AIG Capital Partners and other shareholders have completed the sale of 51.91 per cent of Istanbul, Turkey-headquartered cinema and entertainment company AFM Uluslararasi Film Produksiyon Tic. ve San. to A1 Group, the investment group of the Alfa-Group Consortium. The transaction values the company at $75m.

• BC Partners to acquire Istanbul-listed supermarket chain Migros 14 Feb 2008. Source: AltAssets. BC Partners, alongside minority investors including Turkven Private Equity and DeA Capital, has agreed to acquire 50.8 per cent of Turkish supermarket chain Migros Türk from Koç Holding at a price of YTL21.85 per share, representing a market capitalisation of YTL3.9bn ($3.25bn). As part of the deal, Bülend Özaydinli, former CEO of Koç Holding and Migros, will become chairman of the group.

• EIF to launch €200m fund of funds programme for Turkey 18 Dec 2007. Source: AltAssets. The European Investment Fund, the Technology Foundation of Turkey, the SME Development Organisation of Turkey and the Development Bank of Turkey have launched a new fund of funds and co-investment programme dedicated to investments in Turkey. The fund, called Istanbul Venture Capital Initiative (iVCi), held a first closing on €150m in November. It has a target of €200m.

• Actera closes $475m fund for Turkey 10 Dec 2007. Source: AltAssets. Istanbul-based private equity firm Actera Group has closed its debut fund, Actera Partners, on over $475m. The new vehicle is the largest private equity fund dedicated to investments in Turkey. It has exceeded its initial target by 30 per cent, according to a statement.

• KKR to acquire majority holding in Turkish shipping company U.N Ro-Ro 09 Oct 2007. Source: AltAssets. New York-based Kohlberg Kravis Roberts & Co. has agreed to acquire a 97.6 per cent of the shares in Turkish intermodal transport operator U.N Ro-Ro Isletmeleri and majority shares of each of its affiliates U.N Deniz Tasimaciligi, U.N Deniz Isletmeciligi and U.N Gemicilik Sanayi ve Ticaret. The transaction values the U.N Ro-Ro Group at €910m on a cash and debt-free basis.

• GEM appoints Natalie Yukselen-Alink as managing director 29 Mar 2007. Source: AltAssets. GEM Private Equity Partners has hired Natalie Yukselen-Alink as managing director in the firm's effort to expand its investments and its team to meet investor interest in the Turkish private equity market.

• Ontario Teachers', CPP Investment Board establish private equity fund in Turkey 07 Feb 2007. Source: AltAssets. Teachers' Private Capital, the private investment arm of the Ontario Teachers' Pension Plan, and the Canada Pension Plan Investment Board have jointly led the establishment of Actera Partners, a private equity fund exclusively focused on investment opportunities in the Republic of Turkey. As cornerstone investors, the two institutions have committed €75m each to the new fund, which expects to have raised €250m by mid-2007.

• NBK Capital holds $200m first closing on new fund 14 Nov 2006. Source: AltAssets. NBK Capital Equity Partners Fund - a private equity fund primarily focused on investing in companies seeking capital for expansion or restructurings in the GCC and Levant regions, in Egypt and in Turkey - has held a first closing on $200m.

• Advent and Turkven acquire Roma Plastik 01 Nov 2006. Source: AltAssets. Advent International and Turkven Private Equity have acquired Turkish-based Roma Plastik, a manufacturer of edge bands for furniture. The company has been acquired in a management buy-out from a group of founding investors. The transaction values the company at €56m.

• Bancroft-led investor group acquires Standard Profil 11 Sep 2006. Source: AltAssets. An investor group led by Central European private equity fund manager Bancroft Private Equity has acquired Istanbul, Turkey-based Standard Profil Otomotiv Sanayi ve Ticaret for an enterprise value of approximately $90m.

• EIF and TTGV to support tech-related SMEs in Turkey 26 Jul 2006. Source: AltAssets. The European Investment Fund has signed a collaboration agreement with the Ankara-based Technology Development Foundation of Turkey (TTGV) outlining a framework for a long-term co-operation.

• Advent International makes first Turkish investment 02 May 2003. Source: AltAssets. Advent International and Turkish affiliate Turkven Private Equity are backing the buy-out of Unmas. This is the first time the global private equity firm has invested in Turkey.

• First ever Turkish venture fund closes on $41m 14 Mar 2002. Source: AltAssets. Turkey's first ever venture capital firm, Turk Venture Partners, has announced a closing for its Turkish Private Equity Fund I on $41m. It boasts commitments from a handful of major international institutional investors, including the International Finance Corporation and the European Investment Bank.