Emerging markets private equity firm Aureos Capital has launched a $100 million (€74 million) fund that will target investments in Kazakhstan and Azerbaijan. The fund will also look at deal opportunities in the Kyrgyz Republic, Georgia, Tajikistan, Turkmenistan and Uzbekistan.
The fund will have a target internal rate of return of 20 percent and will seek to make investments in the $2 million to $10 million range.
The region has a thriving SME segment, driven by GDP growth, strong energy, mining and infrastructure sectors, and regional economic integration.
Founded in 2001, Aureos has raised nearly $600 million for investments in Asia, Africa and Latin America. The firm currently manages 19 private equity funds and has a network of 24 offices.