Robert Graffam, Vienna, Austria
Nigel Adam, United States
Vienna, Austria and Washington, DC, April 2, 2008 -- Darby Overseas Investments, Ltd. ("Darby"), the private equity arm of Franklin Templeton Investments, announced that Sean Glodek, Senior Vice President, has joined the firm in its Warsaw office. Mr. Glodek will source and execute investment opportunities for the Darby Converging Europe Mezzanine Fund (DCEMF), which has total capital commitments of EUR €248 million (US$ 391 million).
Mr. Glodek joins Darby from Lehman Brothers where he was a Vice President in the firm's global M&A group. Previously he held positions at Deutsche Bank Securities, Barclays Capital, Ameriquest Capital, Clayton Dubilier & Rice and Goldman Sachs. Mr. Glodek, who is fluent in German and Polish, received a BA degree from Stanford University with honors in Economics and an MBA degree from The Wharton School at the University of Pennsylvania.
Robert D. Graffam, Darby's Senior Managing Director – Europe, commented: "Sean's broad experience in corporate finance as well as principal investing will be very valuable to the Darby Europe team as we accelerate the pace of investment by DCEMF, particularly in Poland where we have recently made two investments." Thus far DCEMF has invested €109.5 million of its committed capital in nine companies; the most recent transactions were in Poland, specifically (i) an investment of EUR €16.40 million in Zaklady Tluszczowe Bodaczow ("ZTB"), the fifth largest producer of vegetable oils and edible fats in Poland, and (ii) a €7.5 million investment in CTL Logistics, the largest privately held railroad operator in Poland.
Darby has been a pioneer in providing mezzanine products – a hybrid of both debt and equity – to emerging market regions, including Latin America, Asia, and more recently to Central and Eastern Europe. DCEMF's other investments include DDSG Cargo Group, a leading river transportation company based in Vienna; SIA Rigas Piensaimniekes, a major dairy products concern in Latvia; Ceske Radiokomunikace, the dominant broadcast and leading alternative telecommunications services provider in the Czech Republic; and FiberNet Group, one of the foremost CEE cable television operators, offering cable television, broadband, internet, and telephony services with a focus on Hungary, Bulgaria, and Ukraine.
Darby Overseas Investments, Ltd. was founded in 1994 by The Honorable Nicholas F. Brady, who served as U.S. Secretary of the Treasury between 1988 and 1993. In 2003, Darby became a fully owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Institutional, a unit of Franklin Templeton Investments, provides global and domestic investment management solutions managed by the Franklin Global Advisers, Templeton, Franklin Templeton Fixed Income, Franklin Templeton Real Estate Advisors, Darby and Mutual Series investment management teams. The San Mateo, California-based company has 60 years of investment experience and approximately US$600 billion in assets under management as of February 29, 2008.