21 Partners raises €60m for Polish fund

The tie-up of the two entities will also aid the expansion of 21 Partners' existing portfolio companies, predominantly operating in Italy, France and Switzerland, into Poland and Central and Eastern Europe.

21 Partners' intention to launch a dedicated Polish fund was first reported by unquote" in May 2011.

Investments
The new fund will deploy cash along the same investment strategy followed by 21 Partners; targeting mid-market entrepreneurs, typically in the €50-200m enterprise value range, in need of local financing for growth and international development. It will aim to expand companies through organic and acquisitive growth strategies, as well as by international expansion.

Investors
21 Concordia has received commitments from the European Investment Fund (EIF), the European Bank for Reconstruction and Development (EBRD) and the Polish Growth Fund-of-Funds (PGFF) – an initiative backed by Bank Gospodarstwa Krajowego (BGK) and EIF.

People
The new vehicle is managed by four Poland-based partners: Andrzej Mierzwa, Dariusz Gorka, Marek Modecki and Dawid Sukacz. Alessandro Benetton and Gerard Pluvinet are founding and managing partners of 21 Partners.

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