Ulusal Faktoring A.S., an Istanbul, Turkey-based financial services company that focuses on providing financing for small-and-medium-sized companies across the country has signed an investment agreement with PineBridge Investments’ PineBridge Gateway Partners private equity team.
With the investment, which is still subject to regulatory approvals, PineBridge will own a significant minority shareholder in the company.
According to Okan Altasli, an Istanbul-based Director on the PineBridge Gateway team, the investment will help Ulusal grow and strengthen its position in the small-medium sized corporate financing market. “We expect that the partnership will create one of the leading independent financial services companies in Turkey”, he added.
Led by Chairman Kurt K. Jolker and CEO Izak Koenka, Ulusal is a non-bank independent factoring company in Turkey.
PineBridge Gateway Partners invests across Turkey, Middle East, Africa, and Russia/Former Soviet Union.