The mandate will be assigned from Mubadala’s $2bn investment fund, which was launched earlier this year with the Russian Direct Investment Fund, Verno’s founder Dimitri Kryukov told Bloomberg.
Kryukov said, “The RDIF provides government protection to foreign investors and we will be working with them on behalf of Mubadala to provide input and opinion on deals.
“We are seeing a pickup in interest in Russia from investors across the Gulf eager to diversify their investments.”
He also said that Verno is recruiting for a new private equity unit, which will be led by former Sberbank executive Roman Kudryashov.
Verno will launch a debt fund by the end of the year with clients signalling backing for $50m, said the report. The vehicle will be managed by former debt portfolio manager at Renaissance Asset Managers Elena Kolchina.
Earlier this year RDIF added Mubadala Development CEO Khaldoon Khalifa al-Mubarak to its advisory board.
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