Russia Partners Raises $800 Million Fund

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MOSCOW (Reuters) – Private equity fund Russia Partners raised an $800 million fund to invest in consumer and basic industries in Russia and other former Soviet states, its managing director said on Friday.

Vladimir Andrienko told Reuters the Russia Partners III fund would make long-term equity investments, recapitalizations and debt-for-equity swaps in food retail, dairy, pharmaceuticals, metallurgy and services.

The fund is taking part in a tender for the sale of Russian drug maker Veropharm (VFRM.MM), part of pharmacy chain 36.6 (APTK.MM), and is considering equity investment in Ukrainian dairy company Milkiland, Andrienko said.

The fund’s final close will be held on March 31.

Russia Partners is a wholly owned subsidiary of U.S. private equity investment firm Siguler Guff & Company which has more than $7.5 billion of assets under management. (Reporting by Maria Plis; Writing by Maria Kiselyova; Editing by Erica Billingham)