CapMan Russia made a first close worth EUR97 mln on its newly established CapMan Fund II late March. Nearly 3 per cent of that investment has been made in-house – by the investment team at CapMan Russia and by CapMan Plc – while the remaining has come from 10 other new and existing Limited Partners. The fund will be directed towards the SME segment in Russia, where CapMan feels that deals are still high and competition low; in addition, they intend to utilize the opportunities for growth not only in St. Petersburg and Moscow, but other high-potential cities across the country as well. This first closing has managed to raise more than 80 per cent of the total funds raised for the orginal CapMan Fund (EUR118 mln) in 2008. In addition to the amount raised so far in this closing, the EBRD has committed a further EUR20 mln to the fund – its cap has been set at 30 per cent of the total and is linked with certain other criteria. Fund-raising for the CapMan Fund II is still ongoing.
Source – Invest-IQ
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