MVC Capital Announces Partnership with Parex Asset Management.PURCHASE, N.Y. -- MVC (Model View Controller) An architecture for building applications that separate the data (model) from the user interface (view) and the processing (controller). Capital, Inc. (NYSE NYSE See: New York Stock Exchange : MVC), a publicly traded business development company that makes private debt and equity investments, today announced that its indirect wholly-owned subsidiary, MVC Europe LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("MVC Europe"), has arrived at an agreement to co-own BPE Management Ltd. ("BPE"), a private equity firm specializing in pursuing investments in businesses throughout the Baltic region, including Latvia, Lithuania and Estonia. MVC Europe's partner in this venture is Parex Asset Management IPAS IPAS Iowa Physician Assistant Society IPAS Integrated Program Assessment System IPAS Inventory Product Assurance Surveillance IPAS Integrated Pressurized Air System (gas turbine systems) , the largest investment management company in the Baltic region and subsidiary of the Parex Bank. BPE will be incorporated in Guernsey and domiciled in Latvia. "We are delighted about forming this partnership with Parex Asset Management, the largest investment management company in the Baltic region," said Michael Tokarz, Chairman of MVC Capital, Inc. "By combining Parex's local expertise and deal flow 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. with MVC's financing and structuring capabilities, we believe we are well positioned to capitalize on the many growth prospects in the Baltics. This partnership exemplifies another step in executing against MVC Capital's long-term strategy." Roberts Idelsons, President of Parex Asset Management, commented: "We are excited to team up with a leading private equity firm which can bring transaction expertise and operational know-how to targeted investee companies looking to expand their businesses." About MVC Capital, Inc. MVC Capital is a business development company traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. that provides long-term debt and equity investment capital to fund growth, acquisitions and recapitalizations of companies in a variety of industries. MVC Europe is a wholly-owned subsidiary of MVC Partners LLC, which is wholly-owned by MVC Capital, Inc. For additional information about MVC Capital, please visit MVC's website at www.mvccapital.com. For MVC's investor relations, please call 914-510-9400. All media inquiries should be directed to Kim Levy or Nat Garnick at 212-687-8080. About Parex Asset Management With over EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1 billion of assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , Parex Asset Management is the largest investment management company in the Baltic region. PAM offers investment management and advisory services to domestic and international retail, corporate and institutional clients. It also manages a number of investment funds, as well as the second and third pillars pension plans. Through its subsidiaries, PAM also operates in Lithuania, Russia and Ukraine. Forward-Looking Statements The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, and these factors are enumerated This term is often used in law as equivalent to mentioned specifically, designated, or expressly named or granted; as in speaking of enumerated governmental powers, items of property, or articles in a tariff schedule. in the company's periodic filings with the Securities and Exchange Commission. |
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