What We Do
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Impeccable project preparation
We know what is necessary to attract equity and debt financing. As entrepreneurs and owners, we have been through successes and failures, so we understand our clients needs, challenges, and opportunities.
PRI applies the same proven methodology to the projects we develop either as principals or as advisors to select clients. We do the work to prepare the project for financing:- Evaluate preparedness – market, management, technology
- Create impeccable project information
- Foster competition among sources of finance
- Negotiate and close the best deal for our client
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What We Do
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Frequently Asked Questions
What does PRI do? Where do you work? Have you worked in my industry? How big must my project be? Is PRI a bank? How long does it take to obtain financing for a project? Will PRI fund my project? Will you take my picture? Does PRI work with specific banks / sources of financing? How does PRI add value to a project? What does it cost to retain PRI?
What does PRI do? PRI helps project sponsors prepare projects for financing and obtain the financing
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Where do you work? We go where the project is. We work around the globe, and our network of affiliates gives our team additional local execution capacity in every region except Antarctica.
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Have you worked in my industry? We can apply our proven methodology across industries, and have worked successfully on projects in most industry groups. See our projects list for examples.
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How big must my project be? PRI works on large and small projects. There is no upper limit; however, it is generally not economical for a sponsor to engage us if the project is not seeking $10 million or more in capital.
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Is PRI a bank? PRI is not a bank. We source funding for projects from banks, private equity funds, and other investors
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How long does it take to obtain financing for a project? The time required to obtain financing depends on the type and size of a project, and how ready it is for financing. The financeTest diagnostic will answer this question for a specific project.
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Will PRI fund my project? PRI does not fund projects directly. We source funding for projects from banks, private equity funds, and other investors
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Will you take my picture? Only if you want us to, but sometimes when you aren't looking.
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Does PRI work with specific banks / sources of financing? PRI identifies the sources of financing most appropriate to each project.
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How does PRI add value to a project? PRI makes sure the project is ready for financing, prepares comprehensive investment materials, and negotiates the best available funding package for the project.
A project is ready for financing when all the elements necessary for successful implementation have been identified and/or put in place. PRI will identify missing elements, and can assist in filling the gaps. PRI prepares investment materials that provide a complete description of the business, detailed financial projections, and answers to the critical questions investors will raise. PRI manages due diligence and negotiation so the project sponsor is insulated from the process.
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What does it cost to retain PRI? Project costs depend on the type and complexity of the project. Fees for Phase I will cover the cost of a financeTest, while fees in Phase II will involve a retainer as well as success fees on funds raised.
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What We Do
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Owners who advise other owners
We have built buildings, created companies, executed buy-outs, mergers, and acquisitions, and raised and managed private equity and venture capital funds. We make this experience available to select clients while we continue our own entrepreneurial activities.
Members of the PRI team have been principals in: - Two venture capital funds
- A travel company
- A restaurant chain
- Buyout and successful listing of a tire company
- Development and re-development of over 50 properties across the US
- Re-development of an office building in Moscow
- The first mortgage securitization company in Turkey
- A private equity fund targeting emerging markets financial services
- A financial technology startup
Current principal projects include: - A real estate development and property management company
- A manufacturer of innovative, durable, low-cost construction materials
- An institutional asset management business
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Who We Are
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An experienced team
PRI was founded in 1995 as Private Resources for Industry.
In the early 90s, Victor Politis realized that, with the fall of the Iron Curtain, many companies in Eastern Europe and the former Soviet Union would need to approach international capital markets for financing that they previously received from governments or state-owned banks. Companies in Lithuania and Russia were the first to engage us. PRI helped them restructure and obtain private sector financing, which included the first corporate Eurobond in the former Soviet Union.
Since then, the PRI team has taken its proven methodology to clients in developed and emerging markets worldwide.
We have developed an extensive network of affiliates around the globe from which our projects and clients benefit.
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Who We Are
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Victor Politis
President & CEO
vpolitis@priny.com
Prior to founding PRI, Victor Politis was an investor who developed low and middle-income housing and shopping centers in difficult areas where financing had not previously been obtained. He has also invested in industrial companies and in the fields of medical equipment, agrotechnology, and information technology, and continues to initiate and invest in landmark projects in developing markets.
Since Victor founded PRI in 1995, many companies in over 20 countries have retained PRI for its project development and financing expertise.
Victor is the recipient of numerous awards, including Entrepreneur of the Year and Award for Teaching Excellence for his Project Development course at New York University. He lectures internationally on project development and financing and has served on the boards of several organizations. He is fluent in five languages.
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Who We Are
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Eric Stambler
Senior Vice President
estambler@priny.com
Eric Stambler has led the work of international expert teams on PRI's projects in Czech Republic, Russia, Turkey, Lithuania, Romania, and Nigeria. In this capacity, he has participated in the development of project structures and led negotiations with potential investors and lenders.
Prior to joining PRI in 1997, Eric worked as an analyst at several organizations including the Federation of American Scientists and the Berlin Information-Center for Transatlantic Security. Among other issues, he assessed the role of U.S. Enterprise Funds in direct investment, industrial and enterprise restructuring in the former Soviet Union.
Eric received his B.A. from Dartmouth College and a Masters degree in Public Policy and International Finance from the Kennedy School of Government at Harvard University.
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Who We Are
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Matthew Saal
Senior Vice President
msaal@priny.com
Matthew Saal has 20 years of experience in international finance, financial sector consulting, and banking.
Prior to joining PRI, Matthew was Vice President of WPA, Inc., the fund manager for Africa International Financial Holdings, a private equity fund focused on banking in sub-Saharan Africa. Previously he had been a Vice President in retail financial services strategy at JP Morgan Chase, and Vice President of Strategy and Business Development at a JP Morgan-backed financial services startup.
From 1998-2000 Matthew was a Managing Director at Medley Global Advisors, LLC, where he advised hedge fund and investment bank clients on macro-political and economic risk, covering emerging markets in Asia and Latin America as well as global financial system issues. Prior to Medley, he was a management consultant with Mitchell Madison Group, focusing on financial services, and an economist at the International Monetary Fund, where he worked on structural adjustment programs in Tanzania and Uganda, and advised the central banks of Tanzania, Uganda, Croatia, Indonesia, and Vietnam. He began his financial services career at Morgan Stanley.
Matthew graduated magna cum laude from Princeton University with an A.B. in Chemistry, with joint recognition from the Woodrow Wilson School of Public and International Affairs program. He has a Masters in Economics from Oxford University (Balliol College), where he studied as a British Marshall Scholar.
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Who We Are
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Cem Sason
Vice President
csason@priny.com
Cem Sason has worked on projects in Eastern Europe, Russia and Turkey. He participated in due diligence preparations and development in the retail banking, agribusiness and manufacturing sectors, among others.
Prior to joining PRI, Cem worked as a consultant developing and managing shopping centers for a leading shopping center advisory company. He prepared feasibility reports, developed leasing structures, coordinated leasing efforts and provided management consulting services.
Cem received his B.A. in Business Administration from Koc University in Istanbul and has a graduate degree in Project Management from the University of California Berkeley.
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Who We Are
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Seyi Akinwale
Project Manager
seyi@priny.com
Seyi Akinwale is a project manager in PRI's Lagos office, where he coordinates client work and principal projects. Prior to joining PRI, Seyi worked as a principal consultant at Nextzon Business Services and was actively involved in setting up businesses in the financial services, information technology, sports management, entertainment and education sectors, among others. He led the development of the Process Outsourcing business and re-engineering teams and conducted feasibility studies on projects in Nigeria and the United Kingdom. Seyi is a member of the Association of Certified Chartered Accountants of UK (ACCA) and the International Association of Outsourcing Professionals (IAOP). He is a graduate in Management and Accounting from Obafemi Awololo University, Nigeria. He has a certified Outsourcing Professional Masters Degree from IAOP, Brussels.
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Who We Are
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Vikas Dayal
Associate
vdayal@priny.com
Prior to joining PRI, Vikas Dayal worked as an investment banking analyst for two years at JPMorgan's Tax-Exempt Capital Markets Group where he helped Higher Education and Non-Profit institutions raise capital through underwriting Municipal Bonds. Previously, he was in a two-year rotation-based leadership development program focusing on finance, accounting, technology and operations at JPMorgan. Vikas received his B.A. in Economics from the University of Michigan. He is National Association of Security Dealers (NASD) Series 7 and Series 63 licensed.
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Who We Are
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Caroline Misan
Analyst
cmisan@priny.com
Caroline Misan has conducted market research and feasibility studies, and has produced client documents for projects in manufacturing, agribusiness, and financial services.
Prior to joining PRI, Caroline worked with various organizations, including the Brazilian Embassy in Washington, DC, the U.S. Chamber of Commerce, and the Citigroup Private Bank. Caroline received her B.A. in International Affairs from The George Washington University. She is fluent in English, Spanish, and Portuguese, and has lived and studied in several Latin American countries.
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Who We Are
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Florence Ray
European Business Development
ray@priny.com
Florence Ray is a member of PRI's Business Development team covering Europe and Francophone Africa. Florence first joined PRI in 2005 as an analyst in our New York office, where she conducted market research, produced client documents and reviewed statistical and economic data. Prior to re-joining PRI, Florence worked for several organizations, including Lomard Odier Darier Hentsch & Cie and Quorum Communication SA, where she worked doing project management and human resources administration. Florence received her B.A. in Business Management from the University of Geneva. She is fluent in English, German, Italian and French.
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Who We Are
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Arthur Levi
Senior Advisor
alevi@priny.com
Prior to joining PRI, Arthur Levi was a Senior Executive of the International Finance Corporation (IFC) of the World Bank. Most recently, he acted as IFC's special representative to Europe, headquartered in Paris. In this capacity he oversaw IFC's offices in London and Paris and was responsible for working with existing IFC clients, new companies and financial institutions interested in partnering with the IFC, as well as relationships with the governments and the EU, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD). Arthur joined the World Bank Group in 1974. He worked at the World Bank as a projects officer in East Africa, and since 1983, at the IFC in structuring and financing projects in general manufacturing, oil and gas, tourism, and financial markets and on privatizations in Eastern Europe, Russia, Ukraine, and in China. Arthur has an MBA from Columbia University.
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How We Work
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A proven methodology
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Diagnosis |
Strategy |
Phase I: financeTest
financeTest is PRIs diagnostic process. We evaluate project strengths and needs, assess readiness to obtain financing, and develop a clear strategy, timeline, and budget to prepare the project and obtain financing. |
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Develop Information Package |
Market to Banks & Investors |
Coordinate Due Diligence |
Negotiate Terms |
Obtain Financing |
Phase II: Financing
The core of our work is obtaining financing for projects. We do this by applying a proven methodology: - Create a complete information package which addresses questions likely to be asked by investors, banks, and strategic partners.
- Target the right parties and take them through due diligence, acting as a screen for the project and sponsors.
- Foster a competitive process among sources of finance to negotiate the best possible terms.
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How We Work
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Phase I: financeTest
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Diagnosis |
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Assemble an expert team to analyze the Project, outline the opportunity, determine its strengths and understand what is needed to succeed.
Simultaneously test the interest of international banks and investors, and understand their criteria and requirements. |
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Strategy |
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Ensure there is a plan to put in place the necessary technology, management, and seed capital to succeed.
Identify obstacles early on and devise the strategy to overcome them.
Develop customized budget, schedule and action plan of steps to be taken to qualify for financing. |
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How We Work
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Phase II: Financing
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Develop Information Package |
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Prepare clear, transparent and relevant information, according to international standards.
Provide banks and investors with information in a form that anticipates their questions and demonstrates how key risks are mitigated. |
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Market to Banks & Investors |
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Aggressively market the Project to multiple sources of money.
Create competition to obtain the best possible terms and conditions. |
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Coordinate Due Diligence |
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Pro-actively coordinate the due diligence visits of banks and investors.
Respond to their questions and overcome their objections. |
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Negotiate Terms |
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| Negotiate to achieve the best possible terms and conditions within a reasonable time frame. |
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Obtain Financing |
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Finalize terms and legal documentation.
Close on the financing. |
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Global Experience
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We cross borders effortlessly
PRI teams have helped clients around the world grow their companies, create new businesses, and finance complex projects. Our global network of affiliates enables us to operate locally practically anywhere.
Click on the map icons to see pictures from where we have worked.
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Global Experience
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Innovative Solutions
Since 1995, PRI has taken on projects where others have failed and has completed them by innovating and creating new solutions.
A few examples:- Herald Center: re-development of a former Department Store into the first vertical anchorless shopping mall in the US
- Harlem Real Estate: development and financing of the first middle-income housing in Harlem, New York
- Alliance Tire Company: acquisition and subsequent public offering of a tire company in Israel
- Mazeikiu Nafta, Lithuanian Oil Refinery: issuance of the first corporate Eurobond for a state-owned company in the Former Soviet Union
- Central Telegraph: transformation of the largest Telegraph Company in Russia to a Telecom Operator, including the creation of the first interconnect agreements in Russia
- Bankas Snoras: strategic development and financing of the first smart card ATM and POS network (over 300 banking outlets) in Central and Eastern Europe
- Baskan Gida: structuring of the first pre-export financing facility from international banks for Turkish agribusiness processor
- EHF: establishment of the first housing loan securitization company in Turkey
- GZ Industries: Structuring and financing of a manufacturing facility in Nigeria, the first of its kind in Sub-Saharan Africa outside of South Africa
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Case Studies
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Oil Refinery - Financial and Operational Restructuring
The capacity utilization of a major Baltic State oil refinery had dropped to 20-25%, and was losing money as a third party processor. Efforts to find financing through international banks failed, as the core business problems remained a threat to the companys survival.
PRI was engaged to assess how working capital could be brought into the business to improve profitability and demonstrate viability.
PRI recommended putting in place bridge financing while the company positioned itself to go to the capital market for a larger and more competitively priced financing based on:
- Improved operational and strategic business plans.
- Negotiated and confirmed purchase and supply agreements.
- Prioritized capital investment projects.
- Updated financial planning and forecasting capabilities.
- Coverage by competitively priced insurance.
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Outcome
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PRI helped implement the recommended program, resulting in a landmark financing: the first corporate Eurobond in the former Soviet Union.
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Case Studies
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Manufacturing Startup
An established entrepreneurial business firm in Nigeria developed the concept for a manufacturing enterprise serving the beverage industry. They needed external equity as well as debt finance.
PRI formalized the business case so that it could be presented to investors, by preparing the market assessment, financial model, and description of management technology and implementation program.
PRI marketed the project to international private equity investors. Once an investor was identified, PRI negotiated the terms that allowed the sponsors to retain a majority interest, despite contributing a minority of the equity.
PRI guided the sponsors through negotiations of the shareholder agreement and agreements with key technical partners, and provided technical analyses to guide pricing and negotiations with major clients. We worked with the sponsors and the investor to secure debt financing from an international Export Import bank as well as a local bank.
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Outcome
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PRI obtained international financing for a new manufacturing venture in Nigeria, the first of its kind in Sub Saharan Africa outside of South Africa, and helped the Client realize a significant return on their seed capital investment.
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Case Studies
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Agribusiness processing plant
A West African agri-business active in trading and exporting sought to vertically integrate into the value-added segment of processing. Funding was required for plant and equipment.
PRI was engaged to assess viability of the concept and recommend how the business could be developed and whether financing could be obtained.
PRI developed the business case for the processing plant and determined that it could be profitable. PRI provided detailed recommendations and a project plan for procuring finance:
- Required project team.
- Experienced industry expert to act as project technical advisor.
- Recommendations on securing customer commitments.
- Detailed description of equipment options, and recommendation for supplier and phasing of equipment acquisition.
- Outline of key risks and mitigants.
- Key components of information memorandum and financial projections.
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Outcome
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Client well-equipped to seek financing: - Next steps laid out
- Expert team identified
- Decision criteria set
- Budget developed
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Case Studies
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Agribusiness working capital
A family-owned agri-business relied on expensive short-term local financing to leverage $5 million in own-capital against export sales of $175 million. They desired additional working capital on improved terms.
PRI was engaged to determine whether it would be possible to migrate from unreliable, high-cost local bank facilities to longer-term financing from international sources.
PRI undertook a careful analysis of the cost of funds, stability of financing lines and options available, as well as the companys supplier and customer relationships and how those assets could be used to support a facility.
PRI recommended a strategy centered on using the companys significant level of export sales, strong track record of performance, and solid relationships with reputable customers to demonstrate ability to generate sufficient cash flow to repay debt:
- Required project team.
- Detailed information memorandum to stress operations, controls, and performance history.
- Innovative pre-export inspection and warehousing structure
- International-standard documentation.
- Anticipate and pre-answer all significant queries and concerns banks might raise.
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Outcome
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Client engaged PRI to implement program, resulting in a $35 million facility that was the first pre-export financing from international banks for agribusiness in Turkey.
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Global Experience
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Click on industry or country to sort the list.
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Industry
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Project Description
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Country
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Agribusiness
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Arrange financing for a German engineering company for their agri-business projects
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Kazakhstan
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Agribusiness
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Arrange working capital financing for major hazelnut processor
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Turkey
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Agribusiness
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Assess feasibility of a greenfield cocoa processing plant
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Nigeria
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Agribusiness
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Assess feasibility of the expansion of the cocoa processing industry in major cocoa-producing state
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Nigeria
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Agribusiness
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Assess feasibility for turn around and expansion of integrated growing and cassava processing enterprise
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Nigeria
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Agribusiness
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Restructure financing, arrange working capital, and obtain machinery for cassava plant
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Nigeria
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Commercial Real Estate
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Conduct market analysis and arrange financing to construct an airport hotel
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Nigeria
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Commercial Real Estate
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Conduct market analysis and arrange financing for development of an office building
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Nigeria
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Commercial Real Estate
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Acquired and redeveloped an unfinished office building
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Russia
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Commercial Real Estate
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Structure a real estate portfolio to attract debt financing
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Russia
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Commercial Real Estate
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Develop and finance a real estate complex in Moscow region
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Russia
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Commercial Real Estate
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Restructure real estate investment trust of a major bank to optimize returns to retirees
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Turkey
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Commercial Real Estate
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Acquire and re-develop real estate
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Ukraine
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Commercial Real Estate
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Structure sale of a large property in order to attract a buyer
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Greece
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Financial Services
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Identify strategic investor to facilitate the regional expansion of the bank
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Lithuania
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Financial Services
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Develop the concept for a regional development bank
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Russia
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Financial Services
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Arrange financing for expansion of consumer banking activities
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Romania
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Financial Services
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Founded the first mortgage securitization company in Turkey
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Turkey
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Financial Services
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Establish a mortgage program
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Turkey
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Financial Services
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Raise equity for acquisition in banking sector
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Nigeria
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Financial Services
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Partner with a major bank to establish a Project Preparation Facility that will develop, expand, and restructure projects
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Nigeria
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Financial Services
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Develop a strategy and business plan for a financial services company
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Angola
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Financial Services
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Create new asset management product
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Nigeria
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