Page 114 - Annual Report 2010

ANNUAL REPORT 2010

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8. Related parties transactions

EIB is the majority owner of the Fund with 61.2% (2009: 62.1%) of the shares. The remaining percentage is held by the European Commission 30.0% (2009: 29.3%) and the Financial Institutions 8.8 % (2009: 8.6%).

8.1 European Investment Bank

Related party transactions with the EIB mainly concern the management by the Fund of the PE activity as described in notes 6. In addition, the EIB manages the EIF treasury, the IT, the pension fund and other services on behalf of the Fund. The amounts included in the financial statements and relating to the EIB are disclosed as follows:

EUR 31.12.2010 31.12.2009

ASSETS

Other assets 33 614 684 26 946 561 LIABILITIES AND EQUITY

Other liabilities and provisions 4 943 188 4 521 603 Share capital 367 000 000 365 200 000 INCOME

Commission income 12 091 848 11 660 548 EXPENSES

General administrative expenses 7 354 009 6 654 257 OFF BALANCE SHEET

Guarantees Drawn 250 063 807 281 437 973 Guarantees undrawn 16 250 000 16 250 000 Assets held for third parties 25 174 075 23 994 356 Net disbursed in private equity 1 880 592 079 1 714 399 857 Investments undrawn in private equity 1 554 753 533 1 261 737 957