PRINT THIS PAGE Russian Baring Vostok closes third fund on $400m25/02/2005. Source: AltAssets. 
 Russian private equity firm Baring Vostok has closed its third investment fund, Baring Vostok Private Equity Fund III, on $400m - well above its original $350m target.
More than half the capital will be subscribed by shareholders in Baring Vostok's existing funds, with the balance sourced primarily from institutional investors in Europe, North America, the Middle East and Asia. Many of the new investors made their first private equity investment in Russia, Baring Vostok said.
Michael Calvey, co-managing partner of Baring Vostok, said, 'Russia and the CIS remain challenging markets in many respects, but the returns on investment are very attractive and compare favourably with most other countries or regions. The medium-sized businesses on which we focus are mostly growing fast, generating strong profit margins, and are generally not exposed to the political risks that have impacted some of the country's largest companies.'
Baring Vostok Capital Partners is a member of Baring Private Equity International. Baring Vostok Capital Partners invests in Russia and the CIS. Since 1994, the team has invested a total of $336m. The firm's previous funds, the 1994 First NIS Regional Fund and the 2001 Baring Vostok Private Equity Fund raised $160m and $205m respectively.
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