NBGI Private Equity on an upward trajectory

The activity of the National Bank of Greece group in the Venture Capital sector, through its subsidiary NBGI Private Equity Ltd., could be considered particularly successful.

According to data from the Greek group, this specific subsidiary managed funds of €432 million as of September 30, which is €65 million more than at the end of 2011, and during the first nine months of 2012, it had made 4 new investments while still maintaining 11.

Particularly significant is the activity of the NBG Private Equity Fund (UK Fund I), which is the company’s first fund and has already made 13 investments, while it has exited from 10 of them, achieving a total gross internal rate of return of approximately 35.9%.

The group’s activities focus on investment sectors in the United Kingdom, France, Turkey, and other countries in Southeast Europe. NBGI Private Equity Limited has offices in London, Paris, and Istanbul, managing the funds NBGI Private Equity LP (£67 million) and NBGI Private Equity II LP (£47 million), which invest in “traditional economy” businesses in England.

It also manages the NBG South Eastern Europe Fund LP amounting to €36 million, the NBG SEE Development Capital Fund LP also with €39 million, as well as the NBGI Turkish Private Equity Fund and NBGI SEE Energy Fund with €21 million and €75 million respectively. Additionally, the NBGI SEE Real Estate Fund LP has available funds of €75 million. It also manages the NBGI Private Equity France Fund LP (€17 million), NBG Technology LP (€21 million), NBG Technology II LP (€49 million), and NBG Private Equity (Tranche II) LP with £18 million.

Recently, the English subsidiary in Britain financed the acquisition of the cake production sector of the food company McCambridge Group Holdings Ltd with £23.5 million, which has a significant presence in retail chains (with its own brands as well as private label) in Great Britain.

Source: Naftemporiki