Russian Direct Investment Fund announces first pre-IPO consortium investment in the Moscow Exchange MICEX-RTS
Press release, 28.09.2012
Moscow, September 28, 2012 – Funds and accounts under management by BlackRock Investment Management (UK) Limited (BlackRock UK) have purchased an undisclosed number of shares in the Moscow Exchange MICEX-RTS in a pre-IPO investment facilitated by the Russian Direct Investment Fund (RDIF), the $10 billion sovereign private equity fund set up by the Russian government to co-invest with leading international investors.
The shares were previously acquired earlier this year by the RDIF. BlackRock UK’s investment represents the first transaction of the pre-IPO co-investment program set up by the RDIF in June 2012. The program will see the RDIF, BlackRock UK, Goldman Sachs and Templeton work together in pre-IPO situations with market leading Russian corporates planning a Moscow listing.
For the RDIF, BlackRock UK is the third firm to have acquired shares in the exchange on a co-investment basis, following the European Bank for Reconstruction and Development (EBRD) in January and US private firm Cartesian Capital in July.
Kirill Dmitriev, Chief Executive Officer of RDIF, said: “We are delighted that the world’s largest and most respected asset manager joins us as a shareholder in the Moscow Exchange. As the first investment of the Pre IPO program, there could not be a better target than the Moscow Exchange. We expect this transaction to be the first of many made by RDIF and our co-investors in promising Russian companies preparing for an IPO in Moscow.”
Notes for Editors
The Moscow Exchange MICEX-RTS is the leading Russian stock exchange and the leading trading venue for futures and options in Eastern Europe. It provides a wide range of opportunities to investors, professional institutions and their Russian and foreign clients for equities, bonds, currencies as well as derivatives trading.
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2012, BlackRock’s AUM was $3.560 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 June 30, 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 www.blackrock.com.
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. Additional information is available at www.rdif.ru.
Contacts for additional information:
For the RDIF:
Tel +7 495 797 3790