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EU convergence specialist Centurion closes debut fund with E150m

Centurion Capital, a private equity firm specialises in European Union convergence countries, has announced the closing of its debut fund with E150m. The firm typically invests in companies that will benefit from expanding their markets East and West, relocating manufacturing to lower cost regions, or outsourcing to Central and Eastern Europe.

'Successful restructuring and signs of strong recovery and economic reform of late in Central and Eastern Europe, together with lower costs, make these markets very attractive to investment,' said Richard Waryn, chief executive officer of Centurion. 'We see considerable opportunity to take local leaders in both Eastern and Western Europe and successfully expand them into European champions.'

'Business has been extremely positive. We have raised considerably more than our initial target and believe that our final closing figure of E150m is highly satisfactory,' added Edwin Richards, managing director. 'Deal flow has also been very strong and we are encouraged by the opportunities we are seeing.'

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