Fri, Nov 17, 2017
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 Russia�s 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. Middle East - Saudi-Iran war would create this domino effect of global disaster, Saudi billionaires said to move funds from region to escape asset freeze[more]

    Saudi-Iran war would create this domino effect of global disaster From CNBC.com: Events appear to be spinning out of control in the Middle East, and the threat a Saudi-Iranian war is looking increasingly credible. Make no mistake, an out and out conflict between the two nations would be

  2. Paradise Papers - Robert Mercer's effort to avoid taxes appears in Paradise Papers, Tycoon made $41m from 'people's fund', Oxford and Cambridge 'investing millions of pounds offshore', Paradise Papers reveal[more]

    Robert Mercer's effort to avoid taxes appears in Paradise Papers From Therealnews.com: The Guardian has reported that conservative billionaire and Trump backer Robert Mercer "appears as a director of eight Bermuda companies in the Paradise Papers," the trove of documents reviewed by the

  3. Wall Street hedge fund veteran hits highs with copycat tactics[more]

    From FNLondon.com: A Wall Street veteran who has made big returns for wealthy clients by piggybacking on the strategies of well-known hedge funds is taking his novel approach to stock-picking to institutional clients. Dixon Boardman, chief executive of $2.5bn fund of hedge funds Optima Fund Ma

  4. Launches - Eaton Vance, Oaktree to launch diversified credit NextShares fund, FIM launches Nordic AI-powered fund[more]

    Eaton Vance, Oaktree to launch diversified credit NextShares fund Eaton Vance Management, a subsidiary of Eaton Vance Corp., announced the expected mid-November launch of Eaton Vance Oaktree Diversified Credit NextShares, a new Eaton Vance-sponsored exchange-traded managed fund. Eaton Va

  5. Outlook - Gundlach's stock market warning comes true[more]

    From Bloomberg.com: Jeffrey Gundlach has been warning something's got to give. Based on the past two days, looks like we have our answer. Stocks fell around the world a second day and high-yield bonds headed for a fourth straight loss, resuming a historic correlation that the hedge fund manager on W