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AIG Capital Partners, part of AIG Global Investment Group (AIGGIG) has launched AIG New Europe Fund II with a subscribed capital of 522.5 million EUR, as compared to the 321 million USD put in the AIG New Europe Fund I. Three months through the year, AIGGIG reported overall assets of 687.5 billion USD, of which 36.3 billion USD in alternative investments.
According to AIGGIG Head of Alternative Investments Robert Thompson, there are four reasons why this company is one of the most important ones of its kind: history, fund diversity, execution capacity and alignment with the customers" interests. "At the beginning, in the "60s, we invested in local companies in Asia. Then, in the "80s, we were the first to invest in private capital and hedge funds. We were also the first to go to Russia and Latin America," he said.
"We bring more than money to Central and Eastern European markets. We bring our extensive experience," said NEF II Director Pierre Mellinger. He exemplified with Astral: "We helped the company make over 40 acquisitions and triple the number of employees." AIG invested 24 million USD in Astral and, four years later, exited with some 90 million USD.
In Romania, NEF II will invest at least 20 million EUR/company in medical services, telecom, media and others. The overall budget for Romania is about one third of the total budget.
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