Da Vinci Capital and Otkritie establish dedicated fund to invest in Russian pension fund businesses

Da Vinci Capital, a leading Russian private equity group, and Otkritie, a Russian investment bank, have teamed up to form a dedicated fund to invest in the Russian pension fund sector.

The fund made its initial portfolio investment in NPF Electroenergetiki, a private pension fund. NPF Electroenergetiki is one of Russia’s five largest pension funds by assets under management. At the beginning of 2012, NPF Elektroenergetiki operated a pension programs for over 850 companies with over 1.3 million beneficiaries. It had over RUB 51.5 billion in assets under management, including RUB 28.6 billion as pension reserves and RUB 22.9 billion in accumulated pension savings.

Oleg Jelezko, CEO of Da Vinci Capital, said, “Russia’s financial infrastructure is a key focus for our investment activities. Our investment in NPF Electroenergetiki is an important step in developing the pension market, which is one of the most attractive areas for longterm investment.”

NPF Electroenergetiki elected a new board on February 16, which included representatives from Da Vinci Capital and the National Pension Administrator. The new board also named Irina Lisytsyna, a former head of Otkritie’s asset management division, as president of the pension fund.

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