ROCA FP, a consortium formed by Romanian investment consultant ROCA Investments and Luxembourg-based fund manager IRE AIFM HUB, has set out an ambitious growth plan for Fondul Proprietatea (FP) after emerging as the preferred candidate in the fund’s ongoing management selection process, Economedia.ro reported.
The consortium aims to increase FP’s assets under management from the current EUR 400 million to over EUR 1.1 billion within about eight years.
The strategy includes a mix of exits and dividend distributions and share buybacks, which would reduce net asset value (NAV). These measures would be balanced by new acquisitions of companies, organic growth of portfolio firms, and bond issues or capital increases, where the share price allows.
“In the detailed strategy that we presented to the FP Board of Representatives, we set a net asset of EUR 1 billion. We believe that this is the first milestone that must be met. If at EUR 400 million in net assets today, FP is, let’s say, in the top 10 in Central and Eastern Europe, at EUR 1 billion, it will certainly be in the top five or even top three,” said Andrei Cionca, CEO of Impetum Group, which owns ROCA Investments, at a press conference on Monday, August 25.
The consortium’s proposal underscores a regional expansion vision for FP, positioning the fund as a leading private equity-style vehicle in Central and Eastern Europe.
iulian@romania-insider.com
(Photo source: Timon Schneider/Dreamstime.com)
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