The proposed project is an equity investment of up to USD 40 million or 20% of the total capital of the Fund. The Fund will invest in institutional quality property developments and income-producing real estate assets predominantly in Moscow, St. Petersburg, and Kiev. Investments in other CIS countries and regional centres will also be considered. The target portfolio is a well-diversified mix of office, retail, industrial, residential – and to a limited extent – hotel assets.
The Fund will help promote the development of institutional grade properties.
In part thanks to EBRD’s participation, the setting up of the Fund will help introduce new investors to the CIS real estate market
- The Fund will foster knowledge and skills transfer. JER Partners’ (“JER”) outstanding experience and high standards will be replicated in the real estate asset management sector in the CIS countries. JER’s and Alfa Capital Partners’ (“ACP”) joint management of the Fund’s operations will help demonstrate the importance of gathering an experienced team with extensive track record and local market knowledge.
A special purpose vehicle, organised under the laws of the Cayman Islands, managed jointly by JER and ACP. JER is a reputable real estate private equity company, managing funds in the United States and Europe with a cumulative capital of USD 2 billion. ACP is a Russian private equity and real estate investment firm affiliated with the Alfa Group, one of Russia’s largest financial and industrial groups. JER and Alfa will jointly invest USD 20 million in the Fund. The residual amount of up to USD 180 million will be contributed by institutional investors from Europe, North America, the Middle East as well as by EBRD.
20% of the Fund’s total equity up to USD 40 million.
Up to USD 200 million.
Due diligence has confirmed that the Fund Manager has the necessary commitment and experience to implement the Bank’s environmental requirements. The Fund will be required to implement the Bank’s Environmental Procedures for Property Funds across all its operations to conduct environmental due diligence and monitoring of each sub-project, to ensure that each sub-project complies with relevant national and EU environmental, health and safety standards and requirements and to submit annual reports on environmental, health and safety issues to the Bank.
Berkeley Square House
London W1J 6BY
Alfa Capital Partners
7/2 Staraya Basmannaya
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