Esemplia Emerging Markets announced the appointment of Samantha Ho as head of Hong Kong and China equities, effective immediately. She is based in Hong Kong. Ho has overall responsibility for managing Esemplia’s Hong Kong and China equity investment team, and driving the firm’s growth plans in the market. Ho has over 25 years of experience in fund… Continue Reading
Deutsche Bank appoints regional head of global transaction banking for MEA
Deutsche Bank announced the appointment of Harold Leenen, as the regional head of global transaction banking (GTB) for the Middle East and Africa (MEA). Leenen takes over from Sriram Iyer, who will relocate to London as global head of Deutsche Bank’s trust & agency services group, which provides trustee, agency, escrow and related services to corporate clients,… Continue Reading
Otkritie Capital appoints Head of IT and Head of Project Office
Russian investment bank Otkritie Capital recently appointed Yuri Yartsev as Head of IT and Grigory Kozin as Head of Projects Office at the bank. In his position, Yuri will be responsible for the general management of the department throughout Russia, the UK, the US and all of the regions covered by the company’s footprint. Yury worked for Otkritie from… Continue Reading
Goldman Sachs survey: insurers worldwide more upbeat about investment
By Andrei Skvarsky. A survey by Goldman Sachs suggests that insurers worldwide are growing more optimistic about investment opportunities despite the uncertain and challenging 2012 with its low interest rates, and that many are willing to take on more portfolio risk. More than 40% of chief investment officers (CIOs) of insurance companies intend to increase… Continue Reading
Sberbank brand launched in Croatia
Sberbank, Russia’s biggest lender, has launched its brand in Croatia by changing the name of its subsidiary in the Balkan country from Volksbank Croatia to Sberbank Croatia. Sberbank Croatia’s flagship branch in Zagreb offers the full range of financial services to both retail and corporate clients. By July the subsidiary will have branches in tourist… Continue Reading
Sberbank CIB hires Credit Suisse banker as head of energy
By Andrei Skvarsky. Sberbank CIB, the investment unit of Russia’s biggest lender Sberbank, has reported one more in a recent string of senior appointments, hiring Igor Ukrasin from Credit Suisse as co-head of sector investment banking and head of energy. Ukrasin, who takes up his new job on May 14, spent 15 years at Credit… Continue Reading
iTech Capital invested in Garpun
Russian iTech Capital has invested US$ 3.5 mln in a solution for professional online ad management. Russian ad tech startup Garpun which developed a box solution to provide digital agencies and corporate advertisers with a full set of tools for professional online ad management, has raised $3,5 million in its first round of funding. The… Continue Reading
AB InBev, CVC Capital in legal battle over StarBev sale earn-out
CVC Capital Partners has found itself in legal hot water with its only new investment in the CEE region – the deal with Anheuser-Busch InBev and StarBev. CVC’s sale of StarBev to Molson Coors in April 2012 has triggered AB InBev to claim earn-out money. However, CVC claims that during the holding period, it invested “heavily” in brand development, marketing and… Continue Reading
CBRE announces senior hire to support Asian capital seeking global investment
CBRE has further boosted its Global Capital Markets group with a key appointment to provide specialised support to Asian capital sources seeking cross-border investment opportunities. Marc Giuffrida will join CBRE as Executive Director and will be based in Singapore from 13 May. Marc will build and lead a team across Asia to further strengthen CBRE’s… Continue Reading
Russia’s Alfa-Bank accused of “corporate raiding” plot in Ukraine
By Andrei Skvarsky. Russia’s Alfa-Bank has been accused by Crimean Vodka Company (CVC) of a “corporate raiding” plot to take hold of the liquor firm, one of Ukraine’s largest producers of spirits. {{{?}}} CVC’s British owner, Neil Smith (pictured), says Alfa-Bank subsidiaries Empire and Eutilia have been fighting for control of the spirits company since… Continue Reading
EBRD boosts renewable energy sector portfolio in Ukraine
The EBRD continues promoting and supporting renewable energy projects in Ukraine aimed at reducing the environmental impact of traditional power generation. Renewable energy is yet to establish itself as a major contributor to Ukraine’s energy security but it is starting to play a greater role in its sustainable energy supply. The latest renewable energy project… Continue Reading
Sberbank lending $239.5m for de luxe real estate project
By Andrei Skvarsky. Sberbank, Russia’s largest bank, has signed a deal with a developer to open a 7.5bn-ruble ($239.5m) five-year credit line for building a de luxe residential compound in Moscow. The loan was arranged for Moscow-based development company Restavracia N by Sberbank CIB, the lender’s investment arm. A total of more than 14bn rubles… Continue Reading
4D Global Energy Advisors invest $17M in Aladdin Middle East
As part of a funding round of USD20 mln initiated by Turkey-focused oil and natural gas company Aladdin Middle East (AME), 4D Global Energy Advisors have invested USD17 mln through its Fund III. The remainder of the funding was provided by the founders of AME, who continue to be majority stakeholders in the company. The funding will primarily be used… Continue Reading
VTB Capital acquires stake in largest satellite TV operator in Russia
VTB Capital has acquired a minority stake – pegged at 25 per-cent plus one share – in Tricolor TV, Russia’s biggest satellite television operator. The investment amount is deduced to be in the range of between USD125 and USD175 mln, valuing the operator as as much as USD700 mln. The valuation is considerably lower than last… Continue Reading
Cyprus bailout defended by high-profile French economist Wyplosz
By Andrei Skvarsky. Prominent French economist Charles Wyplosz, at an event hosted by Russia’s biggest lender Sberbank, defended the controversial EU/IMF bailout plan for Cyprus. It’s banks that are to blame for the crisis, and so it’s fair that those who keep money in them should share the burden of it, Professor Wyplosz told The Russia Forum, a… Continue Reading
Sberbank makes two hires for investment strategy roles
By Andrei Skvarsky. Sberbank has made two top hires for its investment arm Sberbank CIB, with Kingsmill Bond appointed as chief strategist and Andrey Kuznetsov as strategist, both joining from Citibank. Both will be based in Moscow and report to Andy Smith, head of equity research at Sberbank CIB, according to a statement from Sberbank.… Continue Reading
Rusnano to invest in next gen microprocessors
Rusnano, Russia’s largest nanotech company 100% owned by the state, announced last week that its board of directors has approved the funding of a project aimed at developing and commercializing next gen high-capacity energy-efficient microprocessors based on advanced nanotechnology (max. 28 nanometer design rule). Rusnano didn’t disclose the name of the company to further the project; nor… Continue Reading
EAST CAPITAL COMMENT: In Eastern Europe, politics not economics impact risk
By Marcus Svedberg, Chief Economist The global economy is recovering and the risks have decreased, but it remains a fragile recovery – especially in Europe. In Eastern Europe, policies rather than economics exacerbate the swings in global risk appetite. Going forward, I believe the market will continue to focus more on corporate news and major macro… Continue Reading
Financing Sustainable Energy Investment for Bulgarian Business
Raiffeisenbank (Bulgaria) EAD and the European Bank for Reconstruction and Development (EBRD) have signed a second line of credit under the Bulgarian Programme for Energy Efficiency and Renewable Energy (BEERECL). This will allow Raiffeisenbank (Bulgaria) to expand financing for sustainable energy investment by private companies in Bulgaria. The EBRD loan of €7.5 million will be… Continue Reading
CapMan Russia Closes First €97M on Fund II, EBRD Commits Additional €20
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… Continue Reading
8th Annual Middle East Retail Banking Forum Opens In Dubai, UAE
Dedicated three-day event puts spotlight on the future of Middle East retail banking, while examining its growth opportunities and current obstacles Dubai, UAE, 15 April 2013: The 8th Annual Middle East Retail Banking Forum has officially commenced today, as more than 200 delegates gather to learn the latest technologies and issues surrounding the region’s retail… Continue Reading
Wermuth Asset Management significantly outperforms Russian market
Wermuth Asset Management, a Russia-focused German family office, has announced that its quant funds have significantly outperformed a peer group of 50 in the Russian market over the past five years, and have continued to do so in 2013. Wermuth Leveraged Quant Eastern Europe Strategy Fund (WEELS+) has been the best-performing fund with returns of… Continue Reading
Microsoft, Sony to consider funding Russian high-tech startups
By Andrei Skvarsky. Microsoft and Sony are among companies which will examine bids from Russian startup companies looking for investment as part of an innovative technology promotion project by Geneva-based nonprofit organisation Tech Tour. There are also major Russian high-tech promoters on the list of potential investors approved by the organisers of the Third Russian… Continue Reading
AVentures Capital invests in network software developer nuPSYS
AVentures Capital has acquired a minority equity stake in nuPSYS, the world’s leading visual network software developer. AVentures Capital and nuPSYS, Inc, didn’t disclose the financial details of the Series A deal to the public. AVentures was the lead investor in the round, whereas nuPSYS is in talks with international investors to increase the size… Continue Reading
iTech Capital invested in Garpun
Russian ad tech startup Garpun which developed a box solution to provide digital agencies and corporate advertisers with a full set of tools for professional online ad management, has raised $3,5 million in its first round of funding. The round was led by Moscow-based iTech Capital PE & VC fund. The funds will be used… Continue Reading
GOLDMAN SACHS COMMENT: A Few Days in Africa
By Jim O’Neill, Chairman, Goldman Sachs Asset Management. I spent three days in Africa this week, or to be precise, Cape Town and briefly {{{*}}} Johannesburg in South Africa, as well as Lagos and Abuja in Nigeria. I attach the charts from my presentation about Africa’s potential, its challenges, and its current and future position… Continue Reading
Elbrus Capital buys into Russian B2B-Center
Russian Private Equity firm Elbrus Capital, that manages two funds with total assets of over US$ 600 million, has acquired a significant minority stake of 23 per cent in B2B-Center, the largest operator of an online procurement marketplace in Russia. The procurement platform will use the funds to expand its operations and fortify its current market position. B2B-Center… Continue Reading
Sberbank taking over Citi’s retail business in Turkey
By Andrei Skvarsky. DenizBank, a Turkish operation of Russia’s biggest lender Sberbank, has clinched a deal to buy Citibank’s retail business in Turkey. DenizBank is taking over a network which, as of December 31, had gross assets and deposits that totalled 1.2bn Turkish lira (more than $650m) and 1.5bn lira (over $800m) respectively, more than… Continue Reading
Russia’s Renaissance Capital hires head of EMEA strategy
By Andrei Skvarsky. Renaissance Capital has handed the role of chief strategist for Europe, the Middle East and Africa (EMEA) to Daniel Salter, whom the Moscow-based emerging markets investment bank hired from UniCredit. Salter, whose 15-year investment banking career has comprised a series of jobs in London and Moscow, was head of EMEA equity strategy… Continue Reading