Dave, Reba Williams Acquire East Fund Management.Business Editors NEW YORK--(BUSINESS WIRE)--May 3, 2001 Dave H. Williams, chairman emeritus of Alliance Capital Management Corporation, today announced the purchase of East Fund Management GmbH from Bank Austria Bank Austria Creditanstalt is a Central and Eastern European bank, 96.35% owned by UniCredit Group. BA-CA's history goes as far back as 1855, the year the Creditanstalt was founded. and Alliance Capital by himself and Dr. Reba White Williams. The purchase price on the completed transaction was not disclosed. East Fund Management GmbH is a private equity manager, active in Central and Eastern Europe The term "Central and Eastern Europe" came into wide spread use, replacing "Eastern bloc", to describe former Communist countries in Europe, after the collapse of the Iron Curtain in 1989/90. , managing US$180 million in assets of various specialist funds invested in Romania, Slovakia, Austria and the Czech Republic Czech Republic, Czech Česká Republika (2005 est. pop. 10,241,000), republic, 29,677 sq mi (78,864 sq km), central Europe. It is bordered by Slovakia on the east, Austria on the south, Germany on the west, and Poland on the north. . East Fund Management clients include the European Bank for Reconstruction and Development European Bank for Reconstruction and Development Bank targeted at Eastern Europe and the former Soviet Union. , the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community and private sector financial institutions. "Reba and I are excited at the prospect of entering the private equity business in a part of the world that has great growth potential because most of these countries are likely to be admitted to the EU within the next five years," Mr. Williams said. "Central and Eastern Europe will be our initial focus, but we hope to build a global private equity business over the next decade." |
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