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Private equity and venture capital news from Russia

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• Russian private equity firm UFG PE hires former head of EBRD’s St Petersburg office 17 Jun 2009. Source: AltAssets. UFG Asset Management has brought Robert Sasson, the former head of the St Petersburg office of the European Bank of Reconstruction and Development, into the fold as senior managing partner of UFG Private Equity. He will co-head the firm’s Moscow-based private equity business alongside Charles Ryan, chairman of UFG Asset Management.

• Digital Sky Technologies offers Facebook $200m investment 26 May 2009. Source: AltAssets. Digital Sky Technologies, a Russian private web investment firm, has offered to invest $200m in social networking site Facebook, the Wall Street Journal reports.

• Aurora targets £50m for second Russia fund 18 May 2009. Source: AltAssets. Aurora Investment Advisors, which currently manages Aurora Russia, the AIM-quoted investment vehicle established to make equity or equity-related investments in small and mid-sized private companies in Russia, has held the first closing of its Aurora II fund. Whilst the fund close figure was undisclosed, the firm aims to raise £50m (€56.5m) in total.

• CapMan acquires remaining 49 per cent of Russian private equity house Norum 22 Apr 2009. CapMan, the Nordic alternative assets manager, has acquired the remaining 49 per cent of Norum, a Russian private equity house, for around €3.6m.

• CapMan fails to hit target for Russia-focused fund 07 Apr 2009. CapMan, the Nordic alternative assets manager, has closed its CapMan Russia fund on €118m, falling short of its original target of €150m.

• Carlyle's $3.5bn steel deal falls through 17 Nov 2008. Source: AltAssets. Russian steel producer Novolipetsk Steel has terminated its agreement to purchase US steel pipe manufacturer John Maneely Company from The Carlyle Group for $3.53bn.

• CapMan to acquire Russian private equity house Norum 28 May 2008. Source: AltAssets. CapMan, a European firm with Nordic roots, has agreed to acquire management companies of Norum Russia Fund III from the company's senior management, DnB NOR Bank and Sitra Management.

• Lion Capital to go for Russian Alcohol 22 May 2008. Source: AltAssets. London-based private equity firm Lion Capital has agreed to acquire a majority stake in Moscow-headquartered Russian Alcohol Group from Russian investment company Industrial Investors. Central European Distribution Corporation, a major vodka producer in Poland and Russia, and Goldman Sachs will also invest in Russian Alcohol alongside Lion Capital.

• GIMV, KBC establish joint investment vehicle for Russia 12 Feb 2008. Source: AltAssets. Belgian private equity firms GIMV and KBC Private Equity have teamed up to establish a new firm, Eagle Capital Partners, to target the Russian market. The firms are planning to invest around €10m each per year over the next three years.

• DFJ launches first US-Russia venture fund DFJ-VTB Aurora 26 Sep 2007. Source: AltAssets. US technology-focused venture capital firm Draper Fisher Jurvetson has partnered with Russian commercial banking group VTB to form a new venture capital fund, called DFJ-VTB Aurora.

• Russia New Growth Fund holds final closing on $345m 25 Jun 2007. Source: AltAssets. Troika Capital Partners, a Russian private equity firm, has held a final closing of the Russia New Growth Fund, L.P. on $345m, 15 per cent above its original target. It will make equity investments in medium-sized companies in growing industries driven by the consumer demand in Russia and other CIS countries. 18 investors from Europe, Asia and the USA have committed to the fund launched in January 2006.

• OpenView Venture Partners and ABRT Venture Fund join forces on investing in Russia and East-Central Europe 11 Apr 2007. Source: AltAssets. OpenView Venture Partners of Boston, MA and ABRT Venture Fund of Moscow, Russia, have formed a new partnership investment program looking to identify and invest in software and information technology companies in Russia and East-Central Europe.

• GIMV launches Eagle Russia Fund 10 Oct 2006. Source: AltAssets. Belgian venture capital firm GIMV has launched the Eagle Russia Fund with a target size of between $60m and $100m. The new fund has held an initial closing on $30m.

• Scandinavia's Amanda Capital to establish fund of funds for Russia, Eastern Europe 15 Mar 2006. Source: AltAssets. Helsinki-based Amanda Capital is planning to establish a new fund of funds, Amanda III Eastern Private Equity, for Russia and Eastern Europe. The new fund of funds is expected to raise at least €100m.

• Alfa Capital holds first closing of private equity fund targeting Russia, Ukraine 10 Mar 2006. Source: AltAssets. Moscow-based private equity and real estate investment group Alfa Capital Partners has held a first closing of its latest private equity fund, Alfa Private Equity Partners, on $105m. The fund is expected to close on $250m later this year.

• East Capital to launch new fund for banking sector in Russia and CIS 17 Nov 2005. Source: AltAssets. Eastern Europe-focused East Capital will launch the East Capital Explorer Financial Institutions Fund, a private equity fund with a focus on the banking sector in Russia and the CIS. The fund has a target size of €300-350m and is expected to have a life term of seven years, with a possible three-year extension.

• Troika Dialog, Temasek launch new private equity fund for Russia and CIS 15 Nov 2005. Source: AltAssets. Russian investment bank Troika Dialog and Temasek Holdings, an Asia investment company headquartered in Singapore, have agreed on a joint venture to co-sponsor a new mid-cap private equity fund targeting Russia and the Commonwealth of Independent States. The new fund, called the Russia New Growth Fund, will start with capital commitments of $150m. The fund is expected to close in 2006. A target size has not been announced yet.

• Delta Private Equity Partners closes $120m fund for Russia 19 May 2005. Source: AltAssets. Delta Private Equity Partners, formerly known as Delta Capital Management, has closed a $120m fund for Russia following one and a half years of fundraising. The fund will invest in mid-market companies across Russia and focus on the multimedia/telecommunication, consumer goods and financial services sectors. The firm is also exploring opportunities in the Ukraine.

• Carlyle abandons fundraising efforts for Russian fund 13 May 2005. Source: AltAssets. Private equity giant the Carlyle Group has abandoned its Russia-specific fund. The fund with a $300m target was Carlyle's second attempt to raise capital for investments in Russia but has been scrapped because of the depth of investors' concerns about the country's risk profile.

• Russian Baring Vostok Capital Partners launches Madame Figaro Russia 23 Mar 2005. Source: AltAssets. Russian private equity firm Baring Vostok Capital Partners and its portfolio company Select Media have launched Madame Figaro Russia, a new monthly glossy magazine aimed at Russia's businesswomen. Madame Figaro Russia follows Madame Figaro editions for France, Greece, Portugal, Japan, China, Taiwan, Korea and Thailand. Baring Vostok bought a controlling interest in Select Media in 2004.

• Russian Baring Vostok closes third fund on $400m 25 Feb 2005. Source: AltAssets. Russian private equity firm Baring Vostok has closed its third investment fund, Baring Vostok Private Equity Fund III, on $400m - well above its original $350m target.

• Carlyle Group appoints Terekhov and Larson to head up Russian operation 10 Mar 2004. Source: AltAssets. The US-based Carlyle Group has recruited Joshua Larson and Andrei Terekhov as managing directors to spearhead the firm's operations in Russia. The announcement signals Carlyle's continuing global expansion and tradition of moving ahead of most of the private equity pack.

• US Carlyle to launch Russian private equity fund 28 Aug 2003. Source: AltAssets. US Carlyle Group is to launch a $500m private equity fund for Russia along side Russian business conglomerate Alfa. The two sides are believed to be close to signing a deal.