Russian Direct Investment Fund related stories
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Russia’s Elbrus passes halfway mark for third flagshipThat Elbrus has reached this fundraising milestone is impressive, with Russian private equity still reeling from the outcome of the the Mike Calvey case.
Elbrus defies Russia's frosty climate to hit first close on Fund IIILP appetite for Russian private equity has been uncertain since the 2019 arrest of Baring Vostok founder Michael Calvey and several colleagues.
Side Letter: Russia and Baring Vostok, secondary buyout risk, emerging marketsRussia's frozen PE scene shows little sign of thaw; plus highlights from the Emerging Markets Special; a big hire in Spain and the truth (according to Adams Street Partners) behind sponsor-to-sponsor deals. Here’s today's brief, for our valued subscribers only.
Russian private equity hangs in the balanceThe government has propped up Russian private equity following western retrenchment in recent years; it remains unclear whether the industry can make it alone.
Russia’s Elbrus targets Asia, Middle East for $600m fundraise – exclusiveIts first fund, a 2008-vintage, still has four remaining assets and is operating at 0.8x gross total value, according to a source with knowledge of the matter.
Baring Vostok installs replacement heads as Calvey remains in jailThe firm has temporarily suspended the four detained employees amid a dispute over the transfer of shares from one of its portfolio companies.
PIF approves $500m commitmentThe sovereign wealth fund of the Kingdom of Saudi Arabia has backed the Russia-China Investment Fund.
Inventis: In search of China's 'largest' PE firmIt says it is ‘China’s largest’ private equity firm, with $10bn in AUM, over $14bn raised in the last five years and more than 50 investments made since 2000. But when Carmela Mendoza tried to find out more she found herself chasing shadows.
RDIF to sign $1.8bn-worth of deals in one weekCompanies in transport, logistics, infrastructure and mining are set to be the key recipients of investment.
- RDIF creates joint fund with Turkish SWF
The Russia-Turkey Investment Fund, which could be as large as $1bn, will ‘strengthen bilateral economic ties’ between the two countries.