Baring Vostok appoints two partners

The Russian member of newly spun out group Baring Private Equity International has announced the appointment of two new partners.

Sergey Abramov and Philippe Der Megreditchian have been appointed as partners by Baring Vostok Capital Partners, a member of global private equity group Baring Private Equity International (BPEI).

Abramov has been appointed to take responsibility for government relations and business development for Baring Vostok. A former journalist, Abramov has spent the last four years working for the Administration of the President of the Russian Federation.

Der Megreditchian, who will be responsible for project management and business development, is the former chief executive of Eagle Venture Capital, a Moscow-based private equity firm that oversees four regional investment funds for the European Bank for Reconstruction and Development.

Commenting on the new appointments, Michael Calvey, co-managing partner of Baring Vostok, said in a statement: “We are delighted to have executives of the calibre of Sergey and Philippe on our team to participate in our growth. Both are recognised regional and industry experts and will play critical roles in the future success of our firm.”

Baring Vostok invests in Russia and surrounding CIS (Commonwealth of Independent States) countries and currently has over $400 million (€325 million) of capital under management.

Baring Vostok is a member of the BPEI group that completed its own buyout from Dutch parent bank ING last month. Under the restructuring of the organisation, the senior partners managing BPEI’s regional funds acquired ownership of the respective businesses, all of which continue to use the Baring Private Equity brand.

Under the restructure, former chief executive officer Chris Brotchie announced his retirement. John Dare will serve as non-executive chairman of BPEI and David Huckfield continues as COO.