Private equity news

Investment group MDC of Gleb Fetisov, former senator and owner of "My Bank", has formed a five-year equity fund of $350 million, told its representative Alexey Semenov. A third part of funds is invested by the group, the rest – by Western institutional investors. In total the project involved up to 20 investors with investments of $10-50 million, their names were closed. The expected yearly rate of return of the fund is not less than 20%. The fund will focus on buying troubled and undervalued assets (stocks and debts) in Russia and CIS countries, mainly in the telecommunications industry and development, says Semenov. In each project the fund is ready to invest about $20 million.

"Can congratulate Fetisov – it is extremely difficult to find investors on the market, one might even suggest that some of them are not just from the market", – says the managing partner of investment company "Third Rome" Andrey Movchan. In his opinion, under present conditions to raise $350 million "for private equity without the deep ideas" is extremely difficult, with such a size of the fund it can become one of the leaders on the market. 

Source: AllEquityFunds, Vedomosti