Distributions Boom in 2007
INNOVA/3 AT 4.3X ON REALIZED DEALS. Cash distributions of €216 million in 2007 lifted 3-year totals to €445 million.
Innova distributed €216m in 2007, shattering the 2005 record of €166m by almost 30%. Key contributors to hat result were Voxtel (€97m), PolCard (€54m), ACE (€38m), and Mercor (€25m). The distributions handily eat the €175 million target set by Innova in the Q1/2007. “While we are pleased to have sent so much cash to ur investors, we are especially excited that our legacy portfolio has shrunk to just 5 deals. Our team can now nvest and develop Innova/4 with an unparalleled level of focus,” said Steven Buckley. “We are the most experienced CEE fund manager with the smallest legacy workload.” Innova expects the torrid pace of istributions to slow in 2008 to perhaps 30m – 60m Euros. Innova’s partner responsible for exit activities, rzysztof Kulig, joked; “We just don’t have much left on the shelf to sell! But we are busy restocking with nnova/4 as we speak”