In a deal worth USD 12.4 million, Dragon-Ukrainian Properties & Development (DUPD) has secured the acquisition of 38 residential properties in Kiev. Dragon Capital Partners, managers of the DUPD Fund, have secured the rights to a gated community that was recently completed in Kiev through this deal.
In contrast to the scarcity of debt financing in Ukraine, DUPD’s strong cash-balance puts the fund in a unique position to secure additional real estate opportunities in both the residential and commercial categories. The fund continues to pursue these opportunities with a goal of a 20-25% unlevered yield.
Dragon Capital (www.dragon-capital.ua)
Dragon Capital is Ukraine’s largest securities brokerage, investment banking, private equity and asset management firm offering a full range of service to institutional, corporate and private clients. Dragon Capital is the largest broker on the Ukrainian stock market, with a 34% market share in 2007. The Company has completed 20 IPOs and private placements for Ukrainian companies since 2005, raising USD 1.5 billion. Dragon’s asset management arm has nearly USD 1 billion under management.
Established in 2000, the company is an independent partnership controlled by management, with a small minority stake held by Goldman Sachs.
06/03/2009
Central & Eastern Europe, Financial Services, Private Equity News, Ukraine