Darby makes mezz investment in Polish insurer

Franklin Templeton Investments’ private equity and debt arm has completed a mezzanine financing facility for Polish insurer Unilink.

Darby Private Equity, the private equity arm of Franklin Templeton Investments, has provided mezzanine financing to Poland-based insurer Unilink. The financing is provided via the firm’s Darby Converging Europe Fund III, a private debt vehicle.

The terms of the financing were undisclosed by Darby.

According to an announcement from Darby, Unilink will use the financing in seeking acquisitions. The announcement also notes the insurer’s desire to expand its distribution network.

“Unilink is a market leader with strong financials and thus offers strong credit quality, while at the same time it has proven to be one of the fastest-growing businesses in the industry in Poland,” a spokesman for Darby told PDI. “The financing should primarily be used to sustain the firm's trajectory and to expand the platform both organically and through M&A.”

The private debt fund has previously made eight investments. Four of these have been in Turkey and two have been in Hungary. The fund has also made one investment in Poland and one in Latvia, according to Darby.

Across this fund and one other offering, the firm has made 25 investments across the Central and Southern European regions.