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Darby closes €300m Central Europe mezzanine fund13/08/2007. Source: AltAssets. 
 Darby Overseas Investments, the private equity arm of Franklin Templeton Investments, has closed its Darby Converging Europe Mezzanine Fund to new investors. The firm has received total commitments of €248m. Following the expected refinancing of a €65m bridge loan, the final size of the fund is expected to exceed €300m.
DCEMF extends mezzanine loans in those CEE countries that are already part of the European Union and those aiming for membership in the future. The fund has made five investments to date, totalling €64m, the most recent being a €20m commitment to the LBO of DDSG Cargo Group, a Vienna-based river transportation company.
Robert D Graffam, Darby's senior managing director - Europe, said, 'Within our target region, which stretches from the Baltics to Turkey, we continue to pursue opportunities to provide risk capital to companies active in a broad range of sectors and sponsored by either financial investors or local entrepreneurs.'
Darby was founded in 1994. In 2003 Darby became a fully owned subsidiary of Franklin Resources, a global investment management organisation operating as Franklin Templeton Investments.
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