EBRD Commits $50M in Russia, CIS and Turkey-Based Private Equity Fund

The European Bank for Reconstruction and Development (EBRD) will commit up to $50m to a new private equity fund of funds, which will focus on investing in existing equity funds covering Russia, other Commonwealth of Independent States (CIS) countries and Turkey.

The Alpha Russia & CIS Secondary L.P., which will be managed by Alpha Associates Group, an independent private equity manager based in Switzerland, aims to raise up to $300m.
The fund will mainly target the secondary market in private equity funds. However, its strategy will also include primary commitments to new private equity funds, as well as direct co-investments in selected companies alongside reputable and experienced lead-investors.

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