Yandex Raises Capital With Sale of Shares to UFG, BVCP, Tiger

Rumors have been circulating around Russian search engine Yandex and its plans to raise several billion dollars in a future IPO. Now a handful of Yandex private investors including Oradell Capital have sold shares equalling a 9% stake in the company, to a group being managed by Baring Vostok, UFG Asset Management, and Tiger Global Management. With Yandex currently valued at USD 1.1 billion, the acquisition cost the group about USD 100 million but increased their total Yandex shares to nearly 60%.

Yandex (www.yandex.ru)
Founded in 1997, Yandex is Russia’s largest internet portal offering a variety of free services to local users all across the country. Originally started as a search engine, Yandex also offers local and international news, weather reports, financial market updates, mail service, user-content, and more. Based in Moscow, Yandex employs nearly 1,800.

UFG Asset Management (www.ufggroup.com)
UFG Asset Management (UFGAM) was established in 1996 as an arm of Russian investment bank United Financial Group. The two organizations split in 2003 with the sale of the bank, leaving UFGAM as an independent and privately owned venture.

Today UFGAM manages and advises for assets worth up to USD 1.1 billion while also offering management services for pension, real estate, and a host of other funds to more than 30,000 customers worldwide.

Tiger Global Management
Tiger Global Management, LLC (TGM) was established in 2001 as an investment management firm in New York, NY. TGM is active in the energy, media, real estate, and telcomm sectors, as well as private equity and hedge funds. The firm operates worldwide on four continents focusing its real estate business primarily in China, India and Europe. The company maintains headquarters in New York and offices in Beijing and Mumbai.

Baring Vostok Capital Partners (www.bpep.com)
Baring Vostok Capital Partners is a leading private equity firm active primarily in Russia and the CIS. Since 1994 Baring’s five funds have placed investments worth more than USD 950 million in 55 companies. The firm’s investment strategy involves focusing on the consumer products, financial services, media, oil & gas, and telecom sectors.

Baring Vostok has a number of leading institutional investors from North America, Europe, Asia and the Middle East. These include pension funds, governmental investments, endowments and international institutions.