Special situations: IFC launches recovery fund

The International Finance Corporation has launched the first restructuring fund aimed at central and eastern Europe following the economic crisis. The private-sector arm of the World Bank has teamed up with the European Bank for Reconstruction and Development and CRG Capital, a distressed asset specialist, and plans to raise €200 million. The three partners have committed a total of €36 million and hope to bring on board another leading investor within the next couple of months.

The International Finance Corporation has launched the first restructuring fund aimed at central and eastern Europe following the economic crisis. The private-sector arm of the World Bank has teamed up with the European Bank for Reconstruction and Development and CRG Capital, a distressed asset specialist, and plans to raise €200 million. The three partners have committed a total of €36 million and hope to bring on board another leading investor within the next couple of months.

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