Romania’s Government wants to set up sovereign fund by raising private money

The Romanian Government will start looking for investors to subscribe in the first private equity fund managed by the state, this fall, according to Mircea Geoana, senator for the Social Democratic Party (PSD). He said that this fund could gather up to EUR 4 billion. This vehicle won’t be a sovereign fund in the true sense, as most money will come from private investors, according to Wall-street.ro. “Technically, it’s not a sovereign fund, we are following the Polish model. It is a fund that will be called Romania-Moldova. On October 2-4 this year we will make an announcement of the public offer and then we will start presenting it in a road-show and try to gather investors. The fund will be launched in 2015, because it will take at least nine months to make the necessary documentation and gather investors,” Geoana explained. The money raised by the fund will be used for investment in energy, infrastructure and critical infrastructure, such as important IT projects, the senator added. editor@romania-insider.com