SBIH and IFC Metropol launch Russian fund

SBIH and IFC Metropol have agreed to the formation of a new fund, SBI Metropol Investment Fund No.1 in Russia. The commitment for the first fund will be $100m, with SBIH and Metropol each contributing 50%. The fund will be established in several phases, depending on the performance of the No.1 fund as well as Russia's investment climate. Total commitments are expected to reach $500m (including the amount of the No. 1 fund). The fund will target emerging Russian industries and will be managed by a new fund management company which is to be jointly established and equally owned by both companies.

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