Tue, Sep 2, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Russia Direct Investment Fund makes second investment into Moscow Exchange MICEX-RTS

Monday, July 23, 2012

amb
Sean Glodek
Bailey McCann, Opalesque, New York:

The Russian Direct Investment Fund (RDIF) is a $10 billion fund established by the Russian government to make equity investments primarily in the Russian economy. The fund, which is in essence, the first sovereign wealth fund that functions as a private equity fund, announced its second investment in the MICEX-RTS exchange, in a transaction that will increase the funds stake to 2.7%. The transaction was completed as a joint effort between RDIF and US-based, private equity firm Cartesian Capital Management. Cartesian will now own approximately 2.5% of the Moscow Exchange. The stakes were purchased from ZAO UniCredit Bank, based in Russia. UniCredit will still maintain a 6% stake in the exchange following the transaction.

Moscow Exchange MICEX-RTS is the Russian stock, bond, currency and derivatives exchange. It came into existence in December 2011 as a result of the merger of Russias two main exchanges, MICEX and RTS. The MICEX-RTS is the 9th largest exchange globally, in terms of market-cap ahead of the NASDAQ and LSE, according to Bloomberg. The exchange itself accounts for approximately 70% of liquidity in Russia, Central and Eastern Europe.

This transaction follows an investment earlier this year in the exchange by the RDIF and the European Bank for Reconstruction and Development. "What we see in the Moscow Exchange is a cornerstone of the strategy to grow Moscow as ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the study

  2. Legal – GE Capital and Petters-related hedge fund in legal battle, SEC sanctions Donald Brownstein's hedge fund over conflicts of interest[more]

    GE Capital and Petters-related hedge fund in legal battle From Startribune.com: A billion-dollar legal battle is brewing in Florida over who knew what and when about the decade-long Ponzi scheme operated by former Wayzata businessman Tom Petters. The bankruptcy trustee for two failed Flo

  3. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest

  4. Comment – Why you should avoid the hottest hedge fund hands, Swedroe attacks Hussman over risk management, relative value strategy[more]

    Why you should avoid the hottest hedge fund hands FromCNBC/Yahoo.com: Investors who don't have money with Pershing Square Capital Management are likely salivating at the hedge fund's industry-leading 26 percent return from January through July. But investing with Bill Ackman and other to

  5. Ex-UBS prop trader's hedge fund Manikay Partners eyes UK launch[more]

    From eFinancialnews.com: Manikay Partners, a $1.7 billion US multi-strategy hedge fund set up in 2008 by a proprietary trader from UBS with backing from Goldman Sachs, is planning to open in the UK. New York-based Manikay's move into Europe comes after Financial News revealed on Monday that Aurelius