Sberbank and Credit Suisse abandon buyout fund plans

In April 2011, the Russian and Swiss banks had announced the plans to raise a $1bn private equity fund, dedicated to buyouts in Russia. Both parties were set to commit $100m each to the vehicle, according to reports.

Lack of interest from LPs led to the abandonning of the fundraising plans.

In September 2012, the Russian central bank sold 7.58% of its shareholding in Sberbank for $5.4bn. Its remaining stake amounts to 50% plus one share.

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• Topics
• CEE
• Fundraising
• Credit Suisse
• Russia
• OAO Sberbank