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Elbrus Capital announces closing of a Russia and CIS focused Private Equity Fund

Elbrus Capital, a leading private equity business in Russia and the CIS, is pleased to announce the final closing of the private equity fund advised by it (“the Fund”) with capital commitments of US$550 million. The Fund was oversubscribed, exceeding its target of US$ 500 million and reaching its hard cap. Additionally, the Fund secured US$150 million financing from the Overseas Private Investment Corporation (OPIC), which will bring the total available capital for Fund investments to US$700 million upon finalization of legal documentation later this year.

The Fund has attracted a number of new blue chip institutional investors from Europe, the United States, Middle East and Asia. A number of the investors in the Fund made their first commitments to Russian private equity.

Alexander Savin, Co-Managing Partner of Elbrus Capital said, “We are pleased that such a high quality group of international investors has demonstrated its confidence by committing to the Fund”. “The deployment of the Fund is well under way with over US$200 million already invested in six platforms. The Fund has been able to consistently invest in the market leaders in the mid-market growing at 20% or more” said Dmitri Krukov, Co-Managing Partner. Rob Thielen, Partner, added: “This is a great achievement in a very difficult fundraising environment for Russia and CIS-focused funds. It positions the Fund strongly to deliver superior returns to its investors”.

The Fund will continue to implement its buy-and-build strategy, making control and significant influence investments in leading companies within fragmented markets with clear consolidation potential, to actively drive growth both organically and through acquisitions.

MVision Private Equity Advisers Limited acted as exclusive global fundraising adviser for the Fund. Clifford Chance LLP acted as legal counsel.

Background
Elbrus Capital is a leading Russia and CIS-focused private equity business. Elbrus Capital advises private equity funds which have led over 70 acquisitions since 2007. The funds’ total assets under management exceed US$1 billion. Elbrus Capital focuses on leading companies looking for further growth and consolidation opportunities. Funds advised by Elbrus Capital will seek significant influence or controlling stakes in fast growing businesses, and will partner with entrepreneurs who have the ambitions to take their business to the next level of development. Elbrus Capital is specifically interested in companies active in markets that fall within four key investment themes: changing consumer patterns, business and consumer infrastructure needs, optimising use of natural resources, healthcare andeducation needs.

Elbrus Capital contact for media inquiries:
Ilya Novokhatsky, DNA Communications
Tel: +7 (925) 518 1798
ilya@dnapr.ru

Elbrus Capital announced the investment in Intercomp

The private equity fund advised by Elbrus Capital has acquired Intercomp, the largest financial and HR business process outsourcing provider in Russia and the CIS.

Having led the way in financial and HR outsourcing in Russia since it was founded in 1994, Intercomp today is the leader in its segment in terms of size and quality of services. Intercomp employs more than 600 professionals and has a portfolio of over 700 clients, including major international and regional companies representing dozens of various industries.

“This transition to a new stage of development became possible as a result of the company’s stable and continuous growth,” said Intercomp’s CEO Sergey Buchin. “In the last year alone, we have implemented a whole range of major initiatives: we opened a branch in Nizhny Novgorod, introduced new services for the government sector, and rebranded the company. I am delighted that we have found a reliable business partner in Elbrus Capital: a partner with whom we can boldly move into the future. We are confident that profitability and stability, as well as focus on growth and expansion, will prove to be the major features of our development.”

“Business optimization and focus on efficiency are essential to success in any business,” said Managing Partner of Elbrus Capital Alexander Savin, commenting on the deal. “We expect the outsourcing industry to grow substantially in the near future. The increased outsourcing of ancillary business processes in both the commercial and government sectors will help companies and the government alike, to reach their goals in changing market conditions. We see Intercomp as the industry leader, and will fully support its management team in implementing its further growth strategy.”

About Elbrus Capital

Elbrus Capital is a leading private equity business in Russia and the CIS. Elbrus Capital advises private equity funds which have led over 70 acquisitions since 2007. The funds’ total assets under management exceed $1 billion. Key investors in the funds are large international institutional investors and international development institutions.

Further enquiries

Elbrus Capital
Ilya Novokhatsky, DNA Communications (Elbrus Capital’s public relations representative)
+7 925 518 1798
ilya@dnapr.ru

Elbrus Capital announced the investment in B2B-Center

The private equity fund advised by Elbrus Capital has acquired 23% of shares of B2B-Center, the largest operator of an online procurement marketplace in Russia.

B2B-Center is the leading online procurement platform in B2B segment. Over 230 thousand trading procedures for a total amount of over 2.5 trillion rubles have been conducted on B2B-Center’s online marketplace. The system helps purchasers to achieve cost savings on procurement, while suppliers can find new clients and open up new markets.

The fund advised by Elbrus Capital focuses on investments in leading companies looking for further growth and consolidation opportunities. Elbrus Capital partners with entrepreneurs who have the ambitions to take their business to the next level of development.

Dmitri Krukov, Managing Partner of Elbrus Capital, commented on the deal: “Our vision for the development of e-commerce in Russia matches the strategic development plan of B2B-Center. We believe in future opportunities for online procurement systems. This important element of business infrastructure enables companies to improve their efficiency and reduce costs. B2B-Center is the market leader and it offers the superior innovative product to its clients. We are happy to become partners with B2B-Center’s management and shareholders and will use our resources and experience to further develop the company”.

“We joined efforts with Elbrus Capital in order to strengthen the company’s position on the market, – said Alexander Boyko, Chairman of the Board of B2B-Center. – I am sure that this partnership will be beneficial for the company and will contribute to further expansion of the business”.

About B2B-Center

Online procurement system B2B-Center (www.b2b-center.ru) is the largest operator of an electronic procurement marketplace in Russia. B2B-Center enables its clients to conduct over 40 types of trading procedures for buying and selling products and services and thereby it helps extend sales channels for suppliers while improving efficiency in supply chain procurement. The company’s clients include over 120 thousand enterprises from different industries and 90 countries. Today, more than 40% of online trading in B2B segment in Russia is conducted within B2B-Center.

About Elbrus Capital

Elbrus Capital is a leading private equity business in Russia and the CIS. Elbrus Capital advises private equity funds which have led over 70 acquisitions since 2007. The funds’ total assets under management exceed $600 million. Key investors in the funds are large international institutional investors and international development institutions.

Further enquiries

Elbrus Capital
Ilya Novokhatsky, DNA Communications (Elbrus Capital’s public relations representative)
+7 925 518 1798
ilya@dnapr.ru

B2B-Center
Sofia Arakelyan, PR Specialist
+7 495 989 8519, 8-800 555 8519 ext. 7113
pr@b2b-center.ru