UFG PE Part of Three-way Deal to Purchase Rising Star Media

In an unusual three-way deal Charles Ryan, head of UFG Private Equity, has teamed up with Rising Star Media’s Paul Heth and National Amusements’ Shari Redstone to purchase Rising Star from National Amusements. Heth and Redstone, the daughter of American media mogul Sumner Redstone, founded Rising Star Media in 2002 to take advantage of the burgeoning Russian theatre market. Heth will serve as the Rising Star’s CEO, Redstone will take the role of chairman, and Ryan will represent UFG in the venture. The three partners are committed to further expansion of Rising Star’s Kinostar chain throughout Russia.

Rising Star Media
Rising Star Media is a six-theater, 74-screen movie chain based in Moscow and featuring primarily American films. It was the first Russian theater chain backed by American investors and remains the country’s only non-Russian film exhibitor. Rising Star operates the five top-grossing movie theaters in Russia with two of those theaters boasting IMAX projection screens. All six Rising star multiplexes operate RealD, a leading edge 3D cinema system.

UFG Private Equity (www.ufggroup.com)
UFG Private Equity (UFGPE) is the private equity investment arm of UFG Asset Management, an alternative investment firm specializing in Russian and CIS markets. UFG Private Equity manages two funds; UFGPE Fund I, the fully committed USD 280 million fund which closed in 2006, and the UFGPE Fund II which is currently raising funds. It has a target size of USD 200 million with a planned final close in June 2010. Both funds have no limit on investment sectors as UFG prefers to remain diversified.