Tue, Oct 25, 2016
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

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. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From Thisismoney.co.uk: The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From CNBC.com: Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Marketwatch.com: Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. David Einhorn speaks on passive investing, Mylan, his cheapest stock, the Fed[more]

    From Forbes.com: Greenlight Capital hedge fund manager David Einhorn (Trades, Portfolio) joined nine other famed investors on Tuesday to talk about stocks at the annual Great Investors’ Best Ideas Investment Symposium in Dallas. Presenters at the annual conference typically pitch one or severa