Troika Russia New Growth Fund, L.P.

Location:

Russia

Project number:

37304

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Approval date:

21 Nov 2006

Status:

Repaying

PSD disclosed:

20 Oct 2006

Project Description

The proposed project is an investment in a FSU-focused private equity fund with a target size of USD 300 million. The Fund will aim to achieve long-term capital appreciation through privately-negotiated transactions in equity of medium-sized companies operating in the countries of Former Soviet Union, primarily Russia, Ukraine and Kazakhstan.

Transition Impact

Transition impact stems from the support of a strategic entry into the private equity business by a key Russian investment firm, and offering of much needed equity finance to Russia, Kazakhstan and Ukraine, while promoting best international standard of business ethics and corporate governance. The proposed project will have significant demonstration effects through sound investments in medium sized, privately-held companies, where the general partner will be actively involved in restructuring and optimisation of the operations, as well as and transferring technical expertise and know-how.

The Client

The Russia New Growth Fund LP is a private equity fund sponsored by the Troika Dialog Group (TDG). The General Partner of the Fund is Troika General Partner Ltd, which is jointly owned by TDG and Temasek Holdings, an Asia investment firm headquartered in Singapore that manages a diversified USD 80 billion portfolio. The Fund will be managed by Troika Capital Partners, the private equity arm of TDG.

EBRD Finance

Commitment to invest USD 35 million.

Project Cost

The maximum size of the Fund is USD 300 million.

Environmental Impact

The Fund will adopt and implement the EBRD’s Environmental Procedures for Private Equity Funds which includes compliance with the EBRD’s Environmental Exclusion and Referral List and provision of an Annual Environmental Report. Investee companies will be required to comply, at a minimum, with national standards for environment, health, safety, and labour regulations.

Technical Cooperation

None.

Company Contact

Mr. Serguei Skvortsov, CEO
Troika Capital Partners
4 Romanov per., 125009
Moscow, Russia

Tel +7 495 2580534
Fax +7 495 2580536

Email: Serguei_Skvortsov@troika.ru

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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