$120M Invested in Gazprom

By The Moscow Times

Nov. 23, 2010

Prosperity Capital Management, the largest Russia-focused equity investor, has invested $120 million, or 10 percent of its total fund, in Gazprom, buying shares in the gas export monopoly for the first time in 13 years as they trade near record lows.

Mattias Westman, Prosperity’s chief executive, who helps manage $4.5 billion, said in an interview Nov. 19 that “these gigantic hydrocarbon producers are not very pretty, but the potential is substantial when you get them this cheap.”

(Bloomberg)

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