Private Equity Firm PPF Partners has launched in Guernsey with its first fund worth €615 million in commitments.

The firm, which specialises in investing in the emerging markets of Central and Eastern Europe, is a joint venture between Generali and PPF Group.

Director Mel Carvill said: "PPF Partners' aim is to deliver outstanding value to shareholders and investors by partnering over the long-term with the most promising businesses, helping management improve strategic positioning and operational performance.

"Utilising the expertise and financial backing provided by Generali and PPF Group we hope to make Guernsey a strong base for our private equity activity, expanding the business both in terms of the amount of assets under management but also in the number of people we will be looking to employ."

Officially launched on June 1st, PPF Partners currently has offices in Guernsey and Prague and is already operating its first fund, PPF Partners 1 LP, funded with total commitments amounting to €615 million from Assicurazioni Generali and PPF Group. Initial investments have already been made in the waste management, oil and gas, leisure and media industries in the Czech Republic, Romania and Ukraine.

The firm will open up further investment opportunities to external investors and hopes to expand to €5 billion in assets under management within five years.

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