Equity Funds Portfolio Update. Data as of June PDF Free Download

Equity Funds Portfolio Update Data as of June 2012

Equity Funds at a Glance Equity Funds Portfolio: 142 investments made Russia/CIS EUR 1.17bln committed 46 funds 29 Active 17 Liquidated Average Age of active funds: 6.9 years Net Pooled TVPI: All: 1.64x Liquidated: 1.70x Active: 1.62x CSE (incl. Turkey) EUR 2.00bln committed 96 funds 63 Active 33 Liquidated Average Age of Active Funds: 8.5 years Net Pooled TVPI: All: 1.26x Liquidated: 1.35x Active: 1.23x Investees 399 Investees 123 Unrealised 21 Partially Realised 255 Fully Realised Average Age of active investees: 3.7 years Pooled TVPI: FR: 2.40x PR: 3.73x UR: 1.43x Top 3 Countries (all investees) Russia Ukraine Kazakhstan Top 3 Industries (all investees) Financial Services Energy Telecoms Investees 822 Investees 206 Unrealised 27 Partially Realised 589 Fully Realised Average Age of active Investees: 4.23 years Pooled TVPI: FR: 1.88x PR: 2.91 UR: 1.04x Top 3 Countries (all investees) Poland Romania Czech Republic* Top 3 Industries (all investees) Telecom Consumer Retail *EBRD no longer invests in Czech Republic EBRD 2013, all rights reserved 2

EUR Millions Performance of active investments over the Last 12 Months 1,600 1,400 1,200 2011 FV EUR 1,160m Fair Value Movements, June 2011 to June 2012 New Investment EUR 199m Returned Capital EUR 115m Capital Gains (Losses) (EUR 18m) 2012 FV EUR 1,227m 1,000 800 600 400 200 0 1 2 3 4 5 EBRD 2013, all rights reserved 4

Active Funds: Investment Profiles Other 11.03% Seed / Start-up 0.32% 300-350m 350m+ 0-50m Growth / Expansion 72.62% Strategy (by disbursed capital) Buyout 16.03% 250-300m 200-250m 150-200m Fund Size (EUR, by number of funds) 100-150m 50-100m First Time 37.13% Type of Manager (by disbursed capital) Russia/CIS 36% Geography (by disbursed capital) CEE/SEE 64% Follow on 62.87% EBRD 2013, all rights reserved 7

EUR Millions Gross Snapshot of All Investees 18,000 16,000 14,000 Overall TVPI: 1.70x 12,000 10,000 8,000 6,000 4,000 2,000 Unrealised TVPI: 1.20x Partially Realised TVPI: 3.33x Fully Realised TVPI: 2.03x 0 Investment Cost EUR 9.3 bln Investment Value EUR 15.8 bln EBRD 2013, all rights reserved 9

Gross Investment Allocation 2% 9% 5% Agriculture & Forestry 9% Construction TVPI 0.00x 0.50x 1.00x 1.50x 2.00x 2.50x 26% 7% 6% 9% Consumer Manufacturing Pharma & Medical Primary & Energy Services 27% TIM Wholesale & Retail EBRD 2013, all rights reserved 10

LPs by Type Trend 100% 90% 11.9% 13.9% 9.1% Pension Funds 80% 70% 15.2% 5.0% 17.2% 14.8% 5.9% Banks & Insurance 5.7% 60% Corporate Investors 50% 43.0% 28.2% 42.7% 40% IFIs & Government Agencies 30% 20% 8.7% 18.4% 11.2% Other* 10% 16.3% 16.7% 16.3% Fund of Funds 0% 1992-2000 2001-2008 2009-H1 2012 Vintage Year *Other includes: Private Individual, Trust, Endowment EBRD 2013, all rights reserved 12

EBRD Database Best available sample of PE performance in central and south eastern Europe (CSE), Russia and CIS Tracks all gross investments made by a basket of EBRD invested funds as well as net returns to EBRD ( tracked portfolio ) Measured in both EUR and USD Obligatory reporting by fund managers, analysed by EBRD reflects comprehensive performance No survivor bias resulting from only best fund managers reporting EBRD 2013, all rights reserved 15

EBRD Region CSE Countries Albania, Bosnia & Herzegovina, Bulgaria, Croatia, Czech Republic*, Estonia, FYR Macedonia, Hungary, Latvia, Lithuania, Kosovo, Poland, Montenegro, Romania, Slovak Republic, Serbia, Slovenia, Turkey. CIS Countries Armenia**, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyz Republic, Moldova, Russian Federation, Tajikistan**, Turkmenistan, Uzbekistan**, Ukraine and Mongolia. * Czech Republic ceased to be a country of operation in 2007 but some funds remain exposed to investees in the country. **There are no fund sub-investments in these countries as of June 2012. EBRD 2013, all rights reserved 16

Copyright 2013 EBRD. All rights reserved This material is for the recipient s private information. No part of this document may be reproduced or transmitted in any form or by any means, including photocopying and recording, without the written permission of the Bank. Such written permission must also be obtained before any part of this publication is stored in a retrieval system of any nature. While the information contained herein was compiled by the EBRD, we do not guarantee its accuracy or completeness. We accept no liability in relation to the use of this information. Copyright 2013 European Bank for Reconstruction and Development. All rights reserved. EBRD 2013, all rights reserved 17

Equity Funds Portfolio Update. Data as of June 2012