RVC, RUSNANO, VTB and VEB establish a Council of Private Equity Funds


RVC, RUSNANO, VTB and VEB establish a Council of Private Equity Funds

RVC, RUSNANO, VTB and VEB signed a memorandum on establishment of the Russian Council of Private Equity Funds. On behalf of RVC the document was signed by its General Director Igor Agamirzyan. The signing ceremony was held as part of the VI Private Equity Russian Congress, where the main topics of this year were deoffshorization process and competition of different legal systems in relation to the investment funds operation, as well as search for growing-points of the Russian economy.

The signing ceremony was also attended by: Anatoly Chubais, Chairman of the Board of OJSC "RUSNANO Management Company", Alexander Ivanov, Deputy Chairman of the Board of "Vnesheconombank", Andreas Bezenberg, Deputy Head of Private Equity and Special Projects of "VTB Capital" CJSC, and the heads of the largest Russian private management companies.

Council of Private Equity Funds is created under the RSPP Committee on Innovation Policy and Innovative Entrepreneurship. Its task is to solve the issues subsisting in the industry and to increase the attractiveness of private equity segment of the Russian financial market. The main purpose of the created structure is to provide a stable base for investment and optimization of financial mechanisms, and that will enhance the international business cooperation and accelerate the development of real and high-tech sector of the Russian economy.

Moreover, the Council members will work on liberalization of institutional investors activities and improvement of the regulatory framework in this area. The Council also intends to create a platform for business communications in private equity industry. The Council experts will advise professional managers on attraction of financial resources for management providing information support to institutional investors, including while choosing funds for investment in Russia.

Since 1999, the Annual Private Equity Congress has been the main event dedicated to the private equity market in Russia and CIS. It is traditionally attended by representatives of the private equity funds and venture capital funds, real sector companies and investment banks, leading legal and consulting firms.

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