Romanian American Enterprise Fund

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The Romanian American Enterprise Fund (RAEF), also called the Romanian-American Investment Fund (FRAI), is an investment fund in private equity, with two offices, one in Bucharest and the other in New York City.
The Fund was set up by the President and Congress of the United States of America in 1994 and was capitalised with over $60 million, allocated by the United States Agency for International Development.
It was created to support the private initiative in Romania and provided assistance to IMMs since 1996.
Theodor Stolojan is also part of the company's management team.

During the Adrian Nastase government, the FRAI provided advice on privatising the companies of Diergaz Nord, Diergaz Sud, CEC, the energy complexes of Turceni, Rovinari and Craiova.
Under the governance of Tariceanu, the FRAI provided advice for four other privatisations: Romgaz and Electrica - the power distribution subsidiaries of Transylvania Nord, Transylvania Sud and Muntenia Nord.

The company invested in Romania in the companies Policolor, Domo, Domenia, Estima and Motoractive.

History
Together with the Bulgarian-American Enterprise Fund, RAEF established the Balkan Access Fund in 2005.

In October 2007, the company sold the stake of 9.3% of Domo's shares to the Equest Investment Balkans Investment Fund.

In November 2007 he bought 97% of the capital of the microfinance company Capa Finance Cluj for EUR 15 million.

In June 2008, the company sold 33% of Policolor's shares for EUR 27.6 million.

Critics
In 2006, the FRAI was accused of influencing officials and dignitaries of the state, who were employees of the company Theodor Stolojan, Florin Georgescu, Mihai Cătunanu (head of OSPSI).
Also, OPSPI Deputy Dorinel Mucea, referred to as "the hand of Dan Ioan Popescu," was a business partner with FRAI. The fund and its Cypriot tax havens invested $2 million in TEC Miaco, where they were associated.
Daniel Nicolae, former OSPI employee, Mucea's advisor, was at that time the director of the FRAI, responsible for the privatisation of Romgaz.
Alexandru Bining, former director of RENEL - the branches of Transilvania Nord, Transilvania Sud, Muntenia Nord were being privatised with the aid of the FRAI, where Bining was director of energy and utilities.

Notes

External links
Official website

Investment funds
Capital investment companies