50m-euro property fund

Ged Capital and Warburg Pincus investment funds willinvest approximately 50 million euros in real estate in SE Europe through a joint venture, with the main target being the Romanian market. Warburg Pincus is the principal shareholder of Czech Republic-based pharmaceutical company Zentiva, which controls domestic drug maker Sicomed. Ged Group is an independent investment fund manager that operates in the Iberian Peninsula and the SE Europe and is present on the Romanian market through GED Capital Development. Ged Capital held the controlling interests in Sicomed together with Global Finance fund at one point. The projects of the developer will target the residential segment, the office and retail space segment. Management will include Andrew Stear (manager of the Iride business and industrial park) and Teodor Pop. ZF