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TRG launches asset management practice13/02/2007. Source: AltAssets. 
 TRG, a provider in business renewal and value creation for distressed and underperforming mid-market companies, has formed an asset management practice dedicated to managing distressed and sub-performance private equity investments.
Simultaneously, TRG has announced that the asset management practice has been appointed as investment advisor and fund manager of Raiffeisen CEE Private Equity Fund, part of the private equity arm of Raiffeisen Zentralbank, an Austrian co-operative bank with operations throughout Central and Eastern Europe.
'TRG has a proven track record of successfully monetising distressed, underperforming and end-of-life funds portfolios and asset pools,' said Stephen Gray, managing principal, TRG. 'The Asset Management practice formally brings together our expertise at restructuring assets and streamlining expenses with our knowledge of the markets in which the assets are located and a focus on quickly developing and implementing exit strategies designed to maximise value and return capital to shareholders.'
For the Raiffeisen CEE Private Equity Fund, TRG will be responsible for managing the fund and its expenses, developing and implementing exit strategies to increase the value of the portfolio's assets, and winding down the fund. The fund's assets are located in five countries across Central and Eastern Europe in the food, beverage, entertainment and information technology sectors.
TRG Asset Management operates in Central and Eastern Europe, Western Europe and the US.
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