SINGAPORE (AFX) - Temasek Holdings, a state-linked Singapore investment firm, said it has signed an agreement with Russian investment bank Troika Dialog to put up a mid-cap private equity fund for investment opportunites in Russia and elsewhere in the Commonwealth of Independent States (CIS).
The fund, called the Russia New Growth Fund, will start with capital commitments of 150 mln usd. Troika said additional investors will be sought for the fund's final closing next year.
The fund management team will be based in Moscow.
The fund, once fully capitalized, will target equity investments in the retail, consumer goods, logistics, business services, specialized manufacturing, telecommunications, and media fields with sizes of between 5 mln usd and 45 mln usd.
"We are excited about investment opportunities in Russia. The Russia New Growth Fund will capitalize on growing opportunities in the private equity industry in Russia and the CIS, fuelled by sustained growth in the region's economy," said Manish Kejriwal, Temasek's managing director for investments.
(1 usd = 1.70 sgd)
carmina.reyes@xfn.com
cer/jm
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The fund, called the Russia New Growth Fund, will start with capital commitments of 150 mln usd. Troika said additional investors will be sought for the fund's final closing next year.
The fund management team will be based in Moscow.
The fund, once fully capitalized, will target equity investments in the retail, consumer goods, logistics, business services, specialized manufacturing, telecommunications, and media fields with sizes of between 5 mln usd and 45 mln usd.
"We are excited about investment opportunities in Russia. The Russia New Growth Fund will capitalize on growing opportunities in the private equity industry in Russia and the CIS, fuelled by sustained growth in the region's economy," said Manish Kejriwal, Temasek's managing director for investments.
(1 usd = 1.70 sgd)
carmina.reyes@xfn.com
cer/jm
For more information and to contact AFX: www.afxnews.com and www.afxpress.com