THIS
POST WAS ORIGINALLY PUBLISHED MARCH 05, 2007
As the
days are going by, we have more and more evidence that the idea of “2007
private equity funds year” is materializing very fast.
As it
was announced in the press today INTEKO, a conglomerate, controlled by Russia's
only female billionaire, Yelena Baturina and the wife of Moscow Mayor Yuri
Luzhkov mulls creation of a set of investment funds that are oriented towards
Western institutional investors. These funds will be managed by two companies
domiciled in the Bermudas and in Luxemburg. This is another major step in
INTEKO’s financial strategy. A few weeks ago it was reported that INTEKO has
transferred it’s the assets into a newly formed CONTNENTAL equity fund.
CONTNENTAL has 3.5 million rubles in cash assets, while its other assets are
made up of Russian companies' shares - over half represent shares in GAZPROM,
SBERBANK, ROSNEFT and other companies; shares in INTEKO company and its
susidiaries make up 99% of the remaining capital.
If the
intentions of INTEKO to attract by 2008 at least $ 600M - $800M into a new set
of investment funds shall come true – that will be one of the biggest Russian
investment portfolio.
RBC
DAILY reports that according to the INTEKO’s official, the company worked out a
clear financial strategy for the next 5 years. Thus, the plan calls for a
number of Russian mutual investment funds, including real estate and direct
investments; and four foreign domiciled ones. For all of them the beneficiary
is Mrs. Baturina. Some Russian analysts think that these plans are quite
feasible and the company may attract a number of foreign investors.
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