Managing team separates from RAEF

Managers of the Romanian-American Enterprise Fund (RAEF), one of the leading investment funds on the Romanian market have set up their own company, Enterprise Capital. They took this step in order to separate their management activity from the fund they are running, and to be able to manage other funds as well. “So far, we were employees of a private equity, that is of a fund which represented a group of investors, and this step was all the more needed after the launch of the new fund – Balkan Accession Fund. Therefore, Enterprise Capital will manage both funds – RAEF and Balkan Accession Fund under a management contract – but will just as well be able to offer consultancy for transactions,” Horia Manda, one of Enterprise Capital”s shareholders, told ZIARUL FINANCIAR. In the 90s, Enterprise Investors, which manages Polish Enterprise Fund (PEF) took a similar step. Enterprise Capital has a share capital standing at 300,000 RON (over 80,000 euros) and 12 shareholders, who were part of the RAEF team. The main shareholder is Horia Manda, former vice-chairman of RAEF, with a 27.5% stake. Manda is also the company”s manager, together with Ionel Klipper. Other shareholders include Roxana Vitan (12%), Catalin Mocuta (12%), Emil Giurgiu (8%), Alexandru Binig (8%),

Gabriela Sendroiu (4%) and Angela Silvia Popescu (2.5%). ZF