Swiss PE firm to invest €100 mln in Russian e-commerce

{{{?:0}}} Pluribus Optimum, a Swiss PE firm, has earmarked EUR 100 mln for investments in Russia and CIS countries over the next three years. The funds will target e-commerce platforms to improve certain operational aspects such as order processing, document handling, billing and payment acceptance. They will also be targeting the third-party logistics market, popularly… Continue Reading

EXCLUSIVE: BrokerCreditService makes two high-tier hires

{{{?:0}}} By Andrei Skvarsky.  Russian brokerage BrokerCreditService (BCS) has made two senior hires for its London office, bringing in John Barker from global electronic broker Liquidnet as non-executive director and Audrey Faveeuw from the London Stock Exchange as director of international prime brokerage sales. Barker oversaw Liquidnet’s pan-European business during his 11 years at Liquidnet,… Continue Reading

Is Qatar on your entrepreneurial watch list?

{{{?:0}}} Entrepreneurs looking for potential investment opportunities ought to place Qatar high on their watch lists during the next year or two or else they could be missing out big time. Huge billion-dollar infrastructure projects, not to mention the 2022 FIFA World Cup competition, mean major companies from around the world eagerly eyeing the oil-rich… Continue Reading

Abraaj hires EMPEA chief for top brass role

{{{?:0}}} The Abraaj Group, a Dubai-based private equity and venture capital firm, has handed a top managerial role to Sarah Alexander, head and co-founder of the Emerging Markets Private Equity Association (EMPEA), an independent global business promotion body. In her new job, which she takes up next month, Alexander will look after the North American… Continue Reading

East Capital exits ELKO computer wholesaler as sales go up

{{{?:0}}} East Capital, a private equity and venture capital firm with 3.8bn euros under management, has sold out of after helping the Riga-headquartered computer wholesaler to stabilise and boost its business. East Capital has made a profit of 36% on its 8.8% interest in ELKO since it acquired the stake in 2005, according to a… Continue Reading

Subject: Webinar – "The Power of the Leadership Credo"

{{{?:0}}} Our Career Partner, Ivy Exec, would like to share a webinar on the topic “The Power of the Leadership Credo.” During this webinar, you will explore what a leadership credo is, and how it brings value to your career and organization — specifically: – How developing a credo can help leaders communicate to achieve… Continue Reading

Overseas Private Investment Corporation (OPIC) will invest $40 million to support SMEs in Russia's provinces

{{{?:0}}} The Board of Directors of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, approved up to $40 million in financing for a private equity investment fund that will support small and medium-sized enterprises (SMEs) in Russia’s outer provinces, where private equity has been largely unavailable. Fast-growing SMEs with strong market… Continue Reading

Czech company invests in Russian online ticketing service

{{{?:0}}} Popular Russian online ticketing service Travelata.ru has received a financial boost from Czech investment company Invia. The latter is backed by Polish VC fund MCI Management, and is already a leader in the online travel bookings market in the CEE region. Though Travelata competes globally with giants like Expedia, Orbitz and Priceline, the Russian… Continue Reading

Runa Capital Co-Founder Announces $100 Mln Quantum Technology Fund

{{{?:0}}} A new venture fund dedicated to supporting companies that use quantum technology and materials, called the Quantum Wave Fund (QWave), will be launched shortly with around USD 100 mln under management. The investors include Russians Sergei Beloussov, Sergei Kouzmine and other prominent investors and scientists. The fund will target companies working with data networks,… Continue Reading

Russian Deputy Finance Minister Savatyugin steps down

{{{?:0}}} Russian Deputy Finance Minister Alexei Savatyugin, who oversees the financial markets, banking and the insurance sector, is resigning with effect from January 9. The 42-year-old official, whose departure from the ministry had been rumoured since summer 2012, is one of nine deputy finance ministers. He has held the job since 2010, when then finance… Continue Reading

“Provocative” mobile texts say Belarus ruble in for new devaluation

{{{?:0}}} By Andrei Skvarsky. About a thousand mobile phone users in Belarus have received anonymous texts that claimed the national currency would again be devalued heavily on January 8 after being slashed by 36% in 2011, the country’s intelligence agency said, dismissing the messages as a “provocative” hoax. The dollar will be worth 14,340 and… Continue Reading

SunGard declared one of world’s top risk technology vendors

{{{?:0}}} SunGard is ranked third on a 2012 list of 100 top global risk technology providers compiled by Chartis Research, a risk technology market analysis company. While ranking third overall in Chartis’s RiskTech100 annual report, SunGard is declared by the London- and New York-based firm’s paper to have been last year’s number-one in terms of… Continue Reading

Subject: Webinar – “Beating the Job Search Blues“

{{{?:0}}} Our Career Partner, Ivy Exec, would like to share the webinar “Beating the Job Search Blues. “ You’re out of work. You’re looking and looking for your next career step. And it’s all pretty grim. Feelings of isolation, frustration, and lost motivation are shared by just about everyone who is unemployed. But, it doesn’t… Continue Reading

Sberbank makes 26m-euro unsecured loan to engineering firm

Sberbank, Russia’s biggest lender, has extended a seven-year unsecured loan of 26m euros to HMS Group, a Moscow-based manufacturer of pumps, compressors and oil and gas equipment. The fixed-rate loan, which comes with a three-year grace period, has been structured by Sberbank-CIB, a division that was part of Troika Dialog before the Moscow brokerage was… Continue Reading

JP Morgan Private Bank expands Russian focused team

JP Morgan Private Bank has hired Darius Daubaras and Anatoly Crachilov as executive directors to its Russian team and to be based in London. Daubaras joins from BNP Paribas and has previously held roles at Citi Group, Credit Suisse and Merrill Lynch. Crachilov joins from HSBC Private Bank having previously worked at Russian Troika Dialog Continue Reading

EBRD lends to Ukraine’s Coal Energy

The European Bank for Reconstruction and Development is lending up to $US 70 million to Ukrainian mining group Coal Energy SA, which will use the loan proceeds to improve the efficiency and safety of its production capacities, located in eastern Ukraine, as part of an overall modernisation programme. Continue Reading

RenCap puts Alexander Merzlenko in charge of Russia business

Renaissance Capital has appointed Alexander Merzlenko as its president for Russia, adding his new role to his current jobs as head of Russian investment banking and deputy chief executive of the Moscow-headquartered investment bank. Merzlenko’s promotion is the next high-level personnel move at the emerging markets-focused firm after its takeover by billionaire Mikhail Prokhorov’s Onexim… Continue Reading

Almaz Capital Partners invests in Russian Square clone 2can

Russian Square copycat 2can has secured $400,000 in funding from a new investor, Almaz Capital Partners. Mobile card acquiring service 2can was officially launched in Russia in September 2012, but founded a year earlier, in November 2011. It offers customers the chance to transform their smartphones running iOS or Android into mobile POS terminals with… Continue Reading

UFG Private Equity appoints Arthur Akopyan as Partner

Arthur Akopyan joins UFG Private Equity from NGI venture capital fund. He brings 15 years of operational and corporate finance experience in telecoms, media and IT services. Prior to UFG Private Equity, from 2008 he performed restructuring work for several Russian financial holdings with a main focus on telecommunications and IT. During this time Arthur… Continue Reading

Sberbank takes majority stake in Yandex.Money

Russia’s Sberbank is to spend $60 million for a majority stake in Yandex.Money, the online payment business of Russian search engine Yandex. The companies are to form a joint venture through the acquisition by Sberbank of a 75% (minus one share) interest in Yandex.Money, with Yandex retaining a blocking interest in the JV with 25%.… Continue Reading

East Capital Buys Lithuanian Mall Gedimino 9

East Capital, Swedish-based asset management firm, has purchased a Lithuanian shopping mall in Vilnius from Ektornet, a subsidiary of the Swedbank Group. The mall, called Gedimino 9, will benefit from the funding by getting improvements to its commercial aspects as well as a re-shaping and brand positioning in the near future. The deal was completed through… Continue Reading

Otkritie announces changes to its Board of Directors

Otkritie Financial Corporation today announces the election of new members to its Board of Directors. Vadim Belyaev has been appointed Chairman of the Board and Boris Mints, who previously held the position, will remain the President of Otkritie Financial Corporation. Ruben Aganbegyan, CEO of Otkritie Financial Corporation, and Johannes Boerner, Deputy CEO, will form the… Continue Reading

EBRD nearly doubles syndicated loan raised for Russian Rosbank

A syndicated loan raised by the EBRD for Rosbank, a Russian private bank controlled by France’s Societe Generale group, has been heavily oversubscribed and the total loan amount nearly doubled to USD 290 million due to strong interest from commercial banks. A total of 11 international banks are participating in the USD 230 million syndication… Continue Reading

BAML hires RenCap ex-boss to run Russian business

Bank of America Merrill Lynch has hired Alexander Pertsovsky, a former chief executive of Renaissance Capital, to head its Russian operation. Pertsovsky, who takes up the reins at BAML in February, will also join the American bank’s executive committee for Europe and the emerging markets, excluding Asia, according to Reuters. BAML, which has not yet… Continue Reading

JPMorgan Chase appoints Martin Marron as CEO of LatAm

JPMorgan Chase has recently appointed Martin Marron as CEO of Latin America. Marron will also continue to serve as head of Americas sales and trading for global emerging markets, a position he has held since 2007, which includes oversight for teams in Argentina, Chile, Brazil, Colombia, Mexico and New York. He will be responsible for overseeing all… Continue Reading

NOMOS-BANK makes new senior appointments

New senior appointments have been made in the management team of NOMOS-BANK. Yelena Budnik is appointed Senior Vice President of NOMOS-BANK. In this role, Yelena will lead the Bank’s retail business. Alexey Karahan is appointed Senior Vice President in charge of both Strategic Communications and HR departments. Dmitry Romaev is appointed Advisor to the President of NOMOS-BANK. He will be responsible for the coordination of NOMOS-BANK integration into the structure… Continue Reading

Marguerite Fund expands its wind farm portfolio with the acquisition of a stake in an 80 MW project in Romania

The Marguerite Fund announced today that it has acquired a 50% stake in the Chirnogeni (80MW) wind farm in Romania, from Cyprus-based developer EP Global Energy, which will remain a 20% shareholder. The project, which is about to start construction, comprises 32 Nordex N90/2500 2.5MW wind turbines for a total installed capacity of 80MW. It… Continue Reading

Elbrus Capital buys out stake in Russian Delivery Co SPSR-Express

Elbrus Capital, Russian venture capital firm, has bought out Svarog Capital Advisors‘ stake in Russian express delivery company SPSR-Express. Svarog’s investment vehicle in the holding was the Russian Retail Growth Fund, which has exited partially from the delivery company as a stakeholder. Elbrus managing partner Dmitri Krukov led the transaction for the buyer, while Svarog was… Continue Reading

Mail.ru early investor adds $75 Mln to IMI.VC

IMI.VC, the investment company founded by Igor Matsanyuk, has bagged USD 75 mln from one of the early investors in Mail.ru – Mikhail Vinchel. Along with Gregory Finger, another Mail.ru investor in the early stage, the three form the board of directors for IMI.VC. Social gaming player Game Insight and Farminers (mobile incubator) are products of the… Continue Reading