The EBRD Commits $50m to New Fund For Russia & the CIS

The EBRD has announced plans to be an anchor investor in a new fund-of-funds aimed at investing in existing funds in Russia, Turkey, and CIS nations. The USD 300 million fund will be managed by Alpha Associates Group under the name Alpha Russia & CIS Secondary L.P., and will help to replace the private equity funding that has been lost as a result of the global financial crisis.

The EBRD, which has committed USD 50 million, already has a working relationship with Alpha Associates after having previously investing in Alpha CEE II L.P.

Alpha Russia & CIS Secondary L.P. (www.alpha-associates.ch)
Swiss-based Alpha Associates Group will manage the new fund which will invest primarily in the secondary market in private equity funds. The fund will also consider investments in new PE funds as well as strategic co-investments with other proven lenders in individual companies. Alpha Russia & CIS is seen as an integral part of the EBRD strategy of strengthening the CIS region as it emerges from the financial crisis.