Mezzanine Management holds first close of regional fund

European mezzanine and private equity firm Mezzanine Management has held a first close on its second central and eastern European fund, Accession Mezzanine Capital II, at €100m.

Mezzanine Management Central Europe has won an initial €100 million ($132 million) for its second fund, which has a target of €200 million.


Investors in the new fund include the European Bank for Reconstruction and Development, Capital Bank, Raiffeisen Zentralbank and Foreign & Colonial. The fund will typically invest between €5 million and €15 million in each deal, and will invest in both sponsored deals, together with private equity funds, and expansion capital.


The firm started fund-raising in October 2006. The previous fund closed in 2003 on €115 million and has made two realisations so far – the Bulgarian Telecommunications Company and Polish bus manufacturer Solaris.


Mezzanine also plans to expand its presence into Romania with an office in Bucharest opening later in 2007. The firm currently has offices in Vienna, Warsaw and Budapest.


Founded in 1988, Mezzanine Management has invested more than $1.4 billion (€1 billion) in 71 companies.