There are currently 64 private equity firms headquartered in Russia, according to Preqin’s Fund Manager Profiles Product. Collectively, these firms have raised approximately $11.6bn in aggregate capital commitments over the last 10 years and have an estimated $4.8bn of dry powder available to them for investments. The majority of Russia-based private equity fund managers are headquartered in Moscow, with 91% of these firms based in the capital.
The top five Russia-based fund managers by total capital raised over the last 10 years are Baring Vostok Capital Partners, Russia Partners, Russia Direct Investment Fund, DST Global and Elbrus Capital. These firms have raised an aggregate $7.3bn in capital over the last 10 years which amounts to 63% of total capital raised by fund managers located in the region.
Baring Vostok Capital Partners focuses its investments in Russia, Kazakhstan, Ukraine and other former Soviet Union countries. It has garnered approximately 32% of the total capital that has been raised in Russia over the past 10 years. The firm focuses on financial services, oil and gas, consumer products, telecommunications, and media sectors. The firm focuses solely on buyout and co-investment funds, and its latest fund, Baring Vostok Private Equity Fund V, raised $1.2bn in 2012.
Russia Partners is an expansion/late stage and growth private equity firm based in Moscow with additional offices located in Samara, Kiev and New York. The firm focuses its investments on a wide range of industries in firms based in Russia and the former Soviet Union countries, and it has raised $1.1bn in capital commitments over the last 10 years. Its most recent fund, Russia Partners Technology Fund, focuses on the technology industry. It has a $250mn target, and held a second close of $91mn in April 2012.
Russian Direct Investment Fund is a buyout firm which also has a focus on growth and co-investment. It focuses on firms based in Russia and the former Soviet Union countries, as well as China, in a wide range of industries including agriculture, natural resources and construction.