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Understanding risks and opportunities in emerging markets private equity

Emerging markets can represent lucrative opportunities for investors prepared to take the risks involved. Mike Calvey of Barings Vostok Capital Partners discusses the advantages and disadvantages of taking the plunge into investing in private equity in emerging markets, with a focus on Russia and the former Soviet Union.

Calvey also provides a case study of the private equity market in Russia, emphasising the differences between the perceived view of the actual risks and instability in the region.

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Copyright © 2003 Barings Vostok Capital Partners

Mike Calvey is a Co-Managing Partner of Baring Vostok Capital Partners and is a Senior Partner of Baring Private Equity Partners. Mike started working full time in Moscow in 1994 as a co-manager of the First NIS Regional Fund. Currently, he is the Chairman of the Investment Committee for all three BVCP managed funds. Prior to working on the NIS Fund, Mike Calvey worked at the European Bank for Reconstruction and Development (EBRD) and Salomon Brothers Inc. on a variety of direct investments and corporate finance assignments, principally in the oil and gas sector. He has an M.Sc. in Finance from the London School of Economics and a BBA from Oklahoma University. Contact him at calvey@bvcp.ru.