You're reading: OPIC starts to pour money into Ukraine again

The Overseas Private Investment Corporation (OPIC), a U.S. governmental finance institution that supports American businesses abroad, provided $50 million to the SigmaBleyzer Investment Fund for Southeastern Europe, a private equity fund.

The funds will be investing largely into Ukrainian telecommunication, consumer products and retail assets. OPIC’s financing support marks its first big investment into the country in over eight years.

Cooperation was put on hold in 1999 due to a longstanding dispute with the Ukrainian government over a political risk insurance claim that was settled in 2009.

“The SigmaBleyzer fund will bring new investment into the emerging markets of Eastern Europe, a goal we all support,” said OPIC President and CEO Elizabeth Littlefield. “It also marks OPIC’s return to Ukraine after the better part of ten years. We are excited about the many new possibilities for OPIC to support private sector development in Ukraine.”

The fund is managed by SigmaBleyzer, a Houston-based private equity firm. Its operations are largely headquartered in Kyiv and focused on East European investments.

The SigmaBleyzer fund will bring new investment into the emerging markets of Eastern Europe, a goal we all support.

Elizabeth Littlefield, OPIC President and CEO

Founded by Michael Bleyzer, a Kharkiv-born emigre who became a successful U.S. businessman, SigmaBleyzer specializes in $25-$50 million equity purchases in distressed and turnaround companies.

With close to $1 billion in assets under management, SigmaBleyzer is one of the largest private equity firms operating in the region.

Its current Ukrainian portfolio includes leading Ukrainian cable television service provider Volia, retailer Cosmo, food and beverage company Poltava Confectionery and IT service provider Intecracy.

Since first launching operations in Ukraine in the 1990s, OPIC has provided more than $254 million in financing and insurance to 21 projects in Ukraine. In recently announced news, OPIC will support the extension of two long term investment loans by the international lender Citibank to agricultural giants Astarta and Kernel, both of which are listed on the Warsaw Stock Exchange.

Kyiv Post staff writer Jakub Parusinski can be reached at [email protected].