Support The Moscow Times!

Sberbank in Equity Fund

Sberbank and Credit Suisse Group plan to create a $1 billion private equity fund for investments in Russia, Sberbank chief executive officer German Gref said.

The banks will each contribute about $100 million to the fund, which will be started before the end of the year. Gref said the fund wouldn't focus on any particular industries. "This is an important way of attracting direct investment into Russia," Gref said in an interview Friday. This will be the bank's first significant private equity venture, he said.

Sberbank and Credit Suisse will try to create a fund with "maximum diversification," Gref said. Sberbank will be responsible for identifying investment opportunities, and Credit Suisse will focus on raising money and managing investment risks.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.