Click here for printer friendly page
US Carlyle to launch Russian private equity fund28/08/2003. Source: AltAssets. 
 US Carlyle Group is to launch a $500m private equity fund for Russia along side Russian business conglomerate Alfa. The two sides are believed to be close to signing a deal.
Both parties will initially contribute $250m in a joint venture aimed at capitalising on Russia's restructuring economy, according to the Financial Times.
The deal between Carlyle and Alfa comes despite political uncertainty in the run up to elections in Russia. But despite a poorly developed banking sector and stock exchange, the country has experienced one of the highest rates of growth of any large country in 2003.
Carlyle's decision comes as a growing number of Western institutions are beginning to establish a presence in Russia. Citibank recently launched retail banking operations in Russia and Société Générale is poised to do the same. The Carlyle transaction could also encourage more Russian groups to forge partnerships with Western businesses.
Copyright © AltAssets 2003
|
