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Investment Manager and Advisers

Under the Private Equity Programme, the Company is advised by the Investment Advisers, New Europe Capital SRL and New Europe Capital DOO, based in Bucharest and Belgrade, respectively. In addition, the Company has appointed the Investment Manager, New Europe Capital Ltd, a company incorporated in England, as its Investment Manager to manage the Trading Programme on behalf of the Company. The Investment Team has a strong track record of investing in Romania, Serbia, Bulgaria and neighbouring countries (the “Target Region”) and has the required combination of financial background and local knowledge necessary to source, structure, negotiate, manage and dispose of private equity investments as well as to identify undervalued investments on stock exchanges of the Target Region. The investment team of the Investment Manager and Investment Advisers have been active in Romania since 1997, in Bulgaria since 2001, and in Serbia since 2007.

A summary of the key terms of the Investment Advisory and Investment Management Agreements can be found in the Admission Document.

 

Investment Team
 

Ion Florescu

Mr. Florescu is the founder of RC1 and RC2 and has over 21 years experience in M&A, direct investing and private equity, most of which in S E Europe. Ion started his career at Schroders (now part of Citigroup) in the City of London and then joined Charterhouse Bank (now part of HSBC). In 1995 he moved to Romania to head the investment bank Capital S.A., which was set up by Wasserstein Perella, the EBRD, AMP, and a group of Romanian investors. Capital S.A. was subsequently acquired by RC1 and then sold to EFG Eurobank.  Ion set up RC1 in 1997. In 2001 the investment advisory firm he established took over the investment advisory mandates for the SG Romania Fund and the Romanian Investment Fund Limited. In 2005, he founded RC2. Ion has led various restructuring programmes at Romanian and Bulgarian companies. He is now the Chairman of Policolor and Orgachim and sits on the board of Top Factoring. A British and Romanian citizen, Ion was educated at Harrow School and Cambridge University. Ion is fluent in Romanian, English, French and Italian and has co-authored a CBI book entitled Making a success of JV’s in Eastern Europe.

Carmen Seghete

Carmen Seghete joined the investment team at RC1 at its inception in 1997 and has over 17 years of investment experience in listed and private equities. Before joining RC1, she was a senior investment analyst at the Financial Investment Company Moldova. To date Carmen has coordinated many investments and exits and has sat on 10 investee company boards on behalf of RC1.  As such, she has been closely involved in restructuring work. Currently she is a Director of Policolor and Orgachim. Carmen graduated from the Bucharest Polytechnic University and is fluent in Romanian, English and French.

 

Cornelia Oancea

Cornelia Oancea has worked with the investment team from 1998 when she joined Capital S.A. as an equity analyst.  As the senior investment officer for the Romanian Investment Fund, she has been closely involved in a number of restructurings and exits. Currently she sits on the boards of Albalact, Romar, Top Factoring, Mamaia Resort Hotels and Rolast. Cornelia graduated from the Bucharest Academy for Economic Studies (ASE) and speaks fluent Romanian and English. She is a founding member of CFA Romania, a CFA Charterholder since 2002, and a member of AIMR since 2001.

 

Moritz Fried

Moritz Fried joined the investment team in September 2007. Previously, he worked at Lehman Brothers in London. He started his career at JPMorgan investment banking in 2003. Currently, he is a board member of Valjaonica bakra Sevojno AD and Novkabel AD. Moritz graduated from ESCP-EAP European School of Management in Paris and speaks fluent German, English, French, Spanish and Romanian. He is a Trustee of the Romanian charities Pro Patrimonio (UK) and Fundatia ADEPT.

 

Anca Olivia Moraru

Anca Olivia Moraru joined the investment team in July 2006 as an analyst. Previously, she worked as an equity analyst for two Romanian brokerage houses. Currently she sits on the boards of Romar and Mamaia Resort Hotels She graduated from the Bucharest Academy for Economic Studies (ASE) and speaks fluent Romanian and English. She is a CFA charterholder and a member of CFA Institute since September 2009.

 

Ivanka Ivanova

Ivanka Ivanova is the Chief Accountant of New Europe Capital Limited. Prior to joining the company in 2004, she worked for a City-based firm of Chartered Accountants. Ivanka has a degree in finance from the University of National and World Economy, Sofia and is currently completing her professional qualification with ACCA (The Association of Chartered Certified Accountants).

 

Dana Metea

Dana Metea joined the investment team in August 2006 as an assistant and subsequently as a junior analyst. She graduated Economics at the University of Economics, Ploiesti, and is currently enrolled in the CFA Programme. Dana speaks fluent Romanian and English.

 

Milan Subotic

Milan Subotic joined the investment team in April 2009. Previously, he worked as an analyst at Société Générale Serbia and at Deloitte & Touche’s Financial Advisory Services department, primarily involved in financial modeling and valuations. Milan graduated from HEC Geneva and speaks fluent Serbian, English and French.