SBI Holding & IFC launch fund in Russia

Japanese SBI Holding and Russian IFC Metropol have announced the launch of a new fund, SBI Metropol Investment Fund No 1 in Russia of $100m. Each will contribute 50% of the commitment. The fund will be established in several phases, depending on the performance of the No. 1 fund as well as Russia's investment climate. The total fund commitments are expected to reach $500m and will be managed by a new fund management company, SBI Metropol fund Management company, which is to be jointly set up and equally owned by both companies.

The fund will target emerging Russian industries, and especially unlisted Russian companies.

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