Baring Vostok raises $1.5bn for fifth fundraising effort

Fund V reached its hard-cap of $1.15bn, while Supplemental Fund V secured $350m. The co-investment vehicle will invest alongside the main fund.

UBS Investment Bank acted as global placement agent for the funds. Debevoise and Plimpton acted as the fund's counsel.

Investors
Baring Vostok secured commitments from both new and existing institutional investors from North America, Europe, the Middle East and Asia. 

Approximately 75% of the investor base were existing investors, who provided around 80% of the capital.

The European Bank for Reconstruction and Development (EBRD) committed $75m to the fund.

Investments
Fund V will invest in mid-market companies operating in Russia, Kazakhstan, Ukraine, Mongolia and other CIS countries. It will particularly focus on illiquid businesses that are difficult to access for investors outside Central and Eastern Europe.

Although there is not set target, Baring Vostok expects to complete three to four deals per year.

The strategy behind Fund V and Supplemental Fund V broadly follows that of their predecessor funds, which closed on $1bn and $300m in 2007.

People
Investments from the fund will be led by the firm's senior partners Michael Calvey, Elena Ivashentseva and Alexei Kalinin.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyout
• CEE
• Russia
• Baring Private Equity Partners