OREANDA-NEWS. On October 03, 2007 the EBRD has signed an agreement with Prva Pokojninska Druzba (“Prva”) , Slovenia in March for an equity investment worth ?8 million which will provide further funds for the establishment and expansion of Prva’s pension fund and asset management subsidiaries in southeastern Europe (Serbia, Kosovo, Montenegro, Albania, Romania and Ukraine) and at a second stage in the Commonwealth of Independent States. As a result, the EBRD becomes the third largest shareholder of PPD with a 20 percent stake, following Dej with 32 percent and Poteza Skupina with 30 percent, reported the press-centre of EBRD.

Established in 2000, Prva is now the leading pension fund company in Slovenia with a market share of approximately 22,5 percent. It currently also has pension fund operations in the FYR of Macedonia with a market share of 53 percent, in Kosovo and Serbia, and is entering the Albanian and Ukrainian markets. All together, Prva group companies have more than 250,000 policyholders. Despite being a relatively young company, PPD is emerging as one of the leading pension providers in the region with experience and a clear regional focus.

In Romania Prva has established Prima Pensie Fond de Pensii S.A. The company aims to have a 10 percent market share of mandatory funds and will also launch a facultative pension fund in the first quarter of 2008.

Jonathan Woollett, EBRD Director for Non-Bank Financial Institutions, said "As a shareholder in Prva Group Slovenia, the parent company of Prima Pensie, the Bank strongly supports the entrance of Prima Pensie in the Romanian pension market. Prva Group is a capable regional pension manager providing pension insurance and pension fund management products across the region. The participation of Prima Pensie in the Romanian pension market will enhance competition and bring valuable know-how to local pension markets."

Damjan Mencej, President and CEO of Prima Pensie Fond de Pensii S.A., said “Prima Pensie offers the expertise acquired by PRVA group in the pension sector and in portfolio management. In Romania the company has a skilled team of people who are experienced in all aspects of the fund’s activities.”