RDIF Establishes Pre IPO Co-Investor Programme with BlackRock, Goldman Sachs and Templeton Ahead of Moscow Listings
2 Pages
English

RDIF Establishes Pre IPO Co-Investor Programme with BlackRock, Goldman Sachs and Templeton Ahead of Moscow Listings

Downloading requires you to have access to the YouScribe library
Learn all about the services we offer

Description

RDIF Establishes Pre IPO Co-Investor Programme with BlackRock, Goldman Sachs and Templeton Ahead of Moscow Listings PR Newswire ST. PETERSBURG, Russia, June 21, 2012 ST. PETERSBURG, Russia, June 21, 2012 /PRNewswire/ -- A consortium of international investors consisting of BlackRock Investment Management (UK) Limited, Templeton Asset Management Ltd. and the European Special Situations Group of Goldman Sachs International have signed a Memorandum of Understanding with the Russian Direct Investment Fund (RDIF) to establish a co-investor programme to work together in Pre IPO transactions for market leading Russian corporates. The investor consortium includes BlackRock (a leader in investment management, risk management and advisory services worldwide), Templeton (a pioneer in emerging markets and one of the world's largest emerging and frontier markets investment teams), and Goldman Sachs (the world's leading investment bank and securities firm). Collectively, the three institutions have assets under management in excess of USD 5 trillion. The consortium, which will be co-ordinated by RDIF, will seek to make investments in Russian companies with annual revenues in excess of USD 500m that are planning to go public on the Moscow stock exchange MICEX-RTS within the next 6-18 months. Each investment will be decided upon by the programme co investors acting separately in their own discretion.

Subjects

Informations

Published by
Reads 242
Language English

Exrait

RDIF Establishes Pre IPO Co-Investor
Programme with BlackRock, Goldman Sachs
and Templeton Ahead of Moscow Listings
PR Newswire
ST. PETERSBURG, Russia, June 21, 2012
ST. PETERSBURG, Russia
,
June 21, 2012
/PRNewswire/ --
A consortium of international investors consisting of BlackRock Investment
Management (UK) Limited, Templeton Asset Management Ltd. and the
European Special Situations Group of Goldman Sachs International have signed
a Memorandum of Understanding with the Russian Direct Investment Fund
(RDIF) to establish a co-investor programme to work together in Pre IPO
transactions for market leading Russian corporates.
The investor consortium includes BlackRock (a leader in investment
management, risk management and advisory services worldwide), Templeton
(a pioneer in emerging markets and one of the world's largest emerging and
frontier markets investment teams), and Goldman Sachs (the world's leading
investment bank and securities firm). Collectively, the three institutions have
assets under management in excess of
USD 5 trillion
.
The consortium, which will be co-ordinated by RDIF, will seek to make
investments in Russian companies with annual revenues in excess of
USD 500m
that are planning to go public on the
Moscow
stock exchange MICEX-RTS within
the next 6-18 months. Each investment will be decided upon by the programme
co investors acting separately in their own discretion.
Kirill Dmitriev, Chief Executive of the Russian Direct Investment Fund
commented: "We are delighted that our initiative has attracted the support of
investors enjoying the scale and reputation of BlackRock, Goldman Sachs and
Templeton. The programme will support Russian companies at a critical
moment in their capital raising. It has the potential to significantly increase the
number and quality of Russian companies that IPO in
Russia
which in turn will
strengthen the depth and liquidity of the domestic Russian capital markets."
David Graham, Head of International Ventures at BlackRock
added, "We look
forward to working with the RDIF and other consortium partners on this
programme and commend the RDIF initiative to tap an attractive and
increasingly relevant market segment in
Russia
."
Dr. Mark Mobius, Executive Chairman of Templeton Emerging Markets Group
commented, "We are pleased to be part of the RDIF programme and believe
that Pre IPO transactions will benefit from a consortium approach which
improves not only the volume of deals that we are shown but also the quality of
those that we invest in."
Julian Salisbury Partner and Head of Goldman Sachs European Special
Situations Group
added: "We are pleased to support the RDIF programme, as
we believe it will open up new and attractive opportunities for us to invest in
pre-IPO companies in
Russia
."
The consortium intends to start reviewing investment proposals with effect
from the date of this release.
Russian Direct Investment Fund
(RDIF), established in
June 2011
, is to be
capitalized with
$10 billion
in Russian government funds to make equity
investments that generate strong returns. In each investment it makes, RDIF is
mandated to secure co-investment that as a minimum matches its
commitment, thus acting as a catalyst for direct investment into the Russian
economy. Kirill Dmitriev has been Chief Executive Officer of the RDIF since
inception. Additional information is available at http://www.rdif.ru.
BlackRock
is a leader in investment management, risk management and
advisory services for institutional and retail clients worldwide. At
March 31,
2012
, BlackRock's AUM was
$3.684 trillion
. BlackRock offers products that span
the risk spectrum to meet clients' needs, including active, enhanced and index
strategies across markets and asset classes. Products are offered in a variety
of structures including separate accounts, mutual funds, iShares® (exchange-
traded funds), and other pooled investment vehicles. BlackRock also offers risk
management, advisory and enterprise investment system services to a broad
base of institutional investors through BlackRock Solutions®. Headquartered in
New York City
, as of
March 31, 2012
, the firm has approximately 9,900
employees in 27 countries and a major presence in key global markets,
including North and
South America
,
Europe
,
Asia
,
Australia
, and the
Middle East
and
Africa
. For additional information, please visit the Company's website at
http://www.blackrock.com
The Goldman Sachs Group, Inc.
is a leading global investment banking,
securities and investment management firm that provides a wide range of
financial services to a substantial and diversified client base that includes
corporations, financial institutions, governments and high-net-worth individuals.
Founded in 1869, the firm is headquartered in
New York
and maintains offices
in all major financial centers around the world.
Franklin Resources, Inc.
[NYSE:BEN] is a global investment management
organization operating as Franklin Templeton Investments. Franklin Templeton
Investments provides global and domestic investment management solutions
managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and
Bissett investment teams. The
San Mateo, CA
-based company has more than
60 years of investment experience and over
$683 billion
in assets under
management as of
May 31, 2012
. For more information, please call 1-800/DIAL
BEN® or visit franklinresources.com.