Private Equity Professionals

Marfin hits €5.2 billion target(2)

Greek firm Marfin Investment Group has defied expectations by raising €5.2 billion in a matter of weeks for investments in south-east Europe. It will become the world’s biggest listed investment fund.

By
James Taylor
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Greek firm Marfin Investment Group has defied expectations by raising €5.2 billion in a matter of weeks for investments in south-east Europe. It will become the world’s biggest listed investment fund.

Marfin Investment Group has amassed the world’s biggest listed investment fund, after raising €5.19 billion ($7.07 billion) for its debut vehicle via a rights issue.

The Greek firm completed its fundraising ahead of schedule, raising the record sum in just three weeks. The total includes a large investment from Dubai Financial, plus further contriubtions from wealthy Greek investors and “top tier financial institutions”, according to a source close to the firm. 

MIG said it had issued 774,660,278 shares at a subscription price of €6.70 per share, making the total size of the offering about €5.19 billion.

The vehicle, which is also the largest rights issue in Greek history, plans to invest the money in Greece and the surrounding countries of south-east Europe.

Shares in the vehicle will begin trading on 19 July. A source said the firm had considered bringing the date forward, given the speed of the fundraising, but ultimately decided against it.