Private equity funds news
The Economic Development Ministry Plans a $670 Million Infrastructure Fund
05.08.10 0:00
The investment boom in Russia could provide a new infrastructure fund with 20 billion rubles ($670 million) in capital. The anchor investor in the fund may be VTB Capital, the creditor may be Gazprombank and the managing company could be Lider.
The Economic Development Ministry has prepared a draft proposal for an Infrastructure Fund, a copy of which was obtained by Vedomosti. The project has not been presented officially yet to other government officials, but it has been discussed at First Deputy Prime Minister Igor Shuvalov’s working groups.
At the St. Petersburg International Economic Forum on June 18, under the slogan "Russia needs an investment boom,” President Dmitry Medvedev announced that the government is ready to create institutions that will help to attract investment for modernizing the economy.
Medvedev then immediately ordered the government to explore "the idea of creating a special investment fund, in which public funds will be supplemented by private capital." The formula: One ruble of state investment is expected to attract three rubles of private investment.
The fund is intended to run for 10 years, and it could create an exit for investors either by selling assets or by making an initial public offering.
Source:
