PRINT THIS PAGE Russia New Growth Fund holds final closing on $345m25/06/2007. Source: AltAssets. 
 Troika Capital Partners, a Russian private equity firm, has held a final closing of the Russia New Growth Fund, L.P. on $345m, 15 per cent above its original target. It will make equity investments in medium-sized companies in growing industries driven by the consumer demand in Russia and other CIS countries. 18 investors from Europe, Asia and the USA have committed to the fund launched in January 2006.
New disclosed limited partners in the fund include LGT Capital Partners, AXA Private Equity, Goldman Sachs Asset Management, Storebrand Alternative Investments, Alpha Associates and Itochu. About 68 per cent of fund commitments come from European investors, 24 per cent from Asia, and the remainder from the US, and Brazil. Russian family offices represent approximately 10 per cent of the fund capital.
Giedrius Pukas, executive director of Troika Capital Partners, said, ‘We are extremely pleased and grateful for the strong support of such blue-chip investors. The fund has been substantially oversubscribed, which is a clear sign of increasing investor exposure to emerging markets and definitely a new landmark in the Russian private equity history. With the new vehicle our company is well positioned to further exploit the significant potential of the local consumer markets and generate superior returns for our limited partners’.
To date, the fund has made three investments – in a Russian factoring company Eurokommerz, the national chain of lower mid-market clothing retail stores Modis, and the operator of children’s leisure parks Crazy Park.
Russia New Growth Fund, L.P., an investment vehicle managed by Troika Capital Partners was launched in 2006 by Troika Dialog and Temasek Holdings. The fund invests in mid-market buy-outs and growth capital opportunities across consumer related industries. Target sectors include retailing, media, logistics, financial, b2c, and b2b services.
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