GILD Long Haul II scheduled to launch Q2 2008

GILD Bankers is planning to launch a new private equity fund with a target of EUR50m in Q2 2008. The new vehicle will target companies in the Baltic and CEE region with high growth potential through purchase of minority or majority stakes or providing convertible debt. It will target companies with at least three years of operational history and preferred sectors are internet, business services and outsourcing. The active investment period for the fund is three + two years with the total term of 10 years.

GILD Long Haul II is set up to meet demand for investments in the range of EUR1-10m in the Baltic region, and the current pipeline of investments includes telecommunications, transport and energy businesses. It is anticipated that the vehicle will make two to three investments of EUR10m in 2008. The fund is based on Luxembourg Risk Capital Investment Company (SICAR) structure and will be monitored by Luxembourg Commission de Surveillance du Secteur Financier. Kimmo Irpola, GILD Bankers partner, is the main manager for the new vehicle.

GILD Long Haul has succeeded New Economy Ventures, a fund established by GILD Bankers in 1999, which yielded an IRR of 27%. GILD Financial Advisory Services (GILD Bankers) acts as placement agent for the fund.

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