SGM Closes CEE Fund

Societe Generale Asset Management Alternative Investments (SGAM AI), the private equity arm of the French financial services group, has held a final close of its Central and Eastern Europe-focused fund with Euro 156m ($210m) of commitments, above its initial target of Euro 150m.

SGAM Eastern Europe, which held an Euro 80m first close in February 2006, will take control positions in mid-sized companies in Central and Eastern Europe. The team, based in Paris, Warsaw and Bucharest have already completed 40 transactions in the region and acquired CEE-focused fund manager Baring Corliius Private Equity in early 2006.