Wermuth Asset Management To Raise $200 Million Russia-Focused Private Equity Fund
The Moscow Times reports today that Jochen Wermuth of Wermuth Asset Management has announced that the firm will be raising a $200 million Russia-focused private equity fund this year.
The Greater Europe Private Equity fund will not be sector-specific, but will focus on consumer oriented companies in areas such as cable television and high-speed Internet. The fund will also focus on consumer-debt-collection, an industry that Wermuth has current portfolio investments in.
Wermuth Asset Management currently has $400 million under management, and has overseen over $1 billion of investments into Russia over the past decade.
A road show for The Greater Europe Private Equity Fund is scheduled to begin in March.
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Wermuth’s Greater Europe Funds had over $1 billion under management before the financial crisis. NAV sank to $200 million last January and has since risen to $400 million.