Baring Vostok cancels plans for $1.3 billion sixth fund

Leading Russian private equity firm Baring Vostok has cancelled plans to raise a sixth fund that could have been worth $1.3 billion, as five of its senior managers face fraud changes and three of them languish in prison, the firm announced on November 21.

International institutional investors are concerned about “contradictions in Russian and international arbitration law” and the uncertainty regarding the protection of their rights, the firm’s press service told The Bell.

Instead, Baring Vostok will focus on further investing in its fifth fund, selective investments from the firm’s team and Russian co-investors, and managing its current asset portfolio, the press service added.

Baring Vostok cancels plans for $1.3 billion sixth fundRead More
Topics: Finance, News, Venture / Private equity
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