Correspondent, New York
Megan's Feed
Jul 20, 2012

U.S. private equity fund backs Russia’s bourse

MOSCOW, July 20 (Reuters) – A U.S.-based private equity firm
has invested alongside a Russian state fund in Moscow’s
MICEX-RTS bourse, gaining access to the stock exchange ahead of
an expected IPO, the parties announced on Friday.

It is a rare investment by U.S. private equity into Russia,
typically avoided due to concern about the country’s reputation
for corruption and red tape.

Jul 16, 2012

Russia’s Usmanov combines telecoms assets

MOSCOW, July 16 (Reuters) – Russian billionaire Alisher
Usmanov is increasing his influence in the country’s telecoms
sector by combining his stake in mobile operator MegaFon into a
holding company he controls which will also own state-backed
next-generation operator Scartel.

Usmanov recently secured majority control in MegaFon,
Russia’s No. 2 mobile operator, and the company aims to go
public through a London IPO.

Jul 9, 2012

Globaltrans share sale to raise $450 million for M&A

MOSCOW (Reuters) – Globaltrans Investment (GLTRq.L: Quote, Profile, Research) plans to raise around $450 million (291 million pounds) via a share sale, the Russian freight operator said on Monday, giving it added firepower to expand and make possible further acquisitions.

The company aims to take advantage of liberalisation trends in the Russian freight market, exemplified by the sale last year of a controlling stake in Russian Railways’ rail cargo operator Freight One to tycoon Vladimir Lisin.

Jun 29, 2012

Russia’s Alfa says it has $1.5 billion in Pamplona

MOSCOW (Reuters) – The investment group which this week raised its stake in Italian bank Unicredit (CRDI.MI: Quote, Profile, Research, Stock Buzz) to 5 percent is a quarter funded by billionaire Mikhail Fridman’s Alfa Group, according to the Russian conglomerate.

Alfa Group has about $1.5 billion invested in a number of funds run by private equity and hedge fund Pamplona, Alfa said on Friday.

Jun 23, 2012

Surviving the investment bank “killing zone”: Renaissance

ST PETERSBURG, Russia (Reuters) – Investment banking faces a shakeout and only large commercial players and boutiques offering outstanding service will survive and prosper, the head of emerging markets banking specialist Renaissance Group told Reuters.

Investment banks are undergoing wrenching change as weak financial markets force companies to pull back on raising capital and striking deals, cutting the flow of fee income that had formed the lifeblood of the business.

Jun 21, 2012

Sovereign, buyout funds take tentative steps in Russia

ST PETERSBURG, Russia, June 21 (Reuters) – Major private
equity and sovereign wealth funds on Thursday took tentative
first steps to invest in Russia, praising efforts to break the
economy’s fixation on energy and become a more diversified, open
and less risky place to invest.

At a forum used by President Vladimir Putin to court foreign
capital, sovereign wealth fund the Kuwait Investment Authority
said it struck a $500 million deal to invest alongside the $10
billion state-backed Russian Direct Investment Fund (RDIF).

Jun 20, 2012

Putin’s next challenge for Russia: win back investors

ST PETERSBURG, Russia, June 20 (Reuters) – President
Vladimir Putin will court investors this week at Russia’s answer
to Davos, but one who will not be attending is Steven Dashevsky,
a fund manager who is looking at diversifying away from the

Once optimistic about Russia, Dashevsky, who manages a $100
million hedge fund, has little hope for a new round of
investor-friendly economic reforms.

Jun 6, 2012

Russian risks bear down on oligarch Fridman

MOSCOW, June 6 (Reuters) – Mikhail Fridman once seemed
omnipotent as one of the elite group of Russian businessmen who
amassed vast fortunes and huge political influence under
President Boris Yeltsin in the 1990s.

More than a decade after Vladimir Putin succeeded Yeltsin
and started reining in the oligarchs, Fridman is on the
defensive as a new generation of businessmen snatch up assets
and the Kremlin reasserts control over the economy.

Jun 4, 2012

Russia-China fund to form, eyes forestry deal

MOSCOW, June 4 (Reuters) – A multibillion-dollar investment
fund set up by Russia and China is expected to make its first
investment, into a Russian forestry company, as economic ties
between the neighboring countries grow closer.

Plans for the fund – a venture between sovereign wealth fund
China Investment Corp and the state-backed Russian Direct
Investment Fund – were announced in October.

May 31, 2012

Dodd says JPMorgan loss proof of legislation need

MOSCOW, May 31 (Reuters) – Former U.S. Senator Christopher
Dodd said the shocking disclosure by JPMorgan Chase & Co
of a $2 billion trading loss is proof of the need for
legislation he co-authored to limit excessive risk-taking by

“This was a big deal, it might have sounded like a minor
glitch but there were some major commitments made here,” said
Dodd, speaking to Reuters on the sidelines of a Moscow
conference, when asked about the JPMorgan trade.