Transterm (ex Naftrans)

Operator of Batumi oil terminal in Georgia and oil transportation in Georgia

  • Invested: 2003
  • Part Exit: 2008
  • Size of Investment: USD 30 m
  • Multiple on Investment: 1.8x
  • IRR: 21%
Alini-Romanov Dvor


Class A office and retail buildings in central Moscow


  • Invested: 2003
  • Exit: 2008
  • Size of Investment: USD 7.7 m
  • Multiple on Investment: 4.6x
  • IRR: 58%
Bravo International


St. Petersburg based brewery which was later sold to Heineken


  • Invested: 2000
  • Exit: 2002
  • Size of Investment: USD 4.5 m
  • Multiple on Investment: 3.3x
  • IRR: 49%

Redberry Resources

Azerbaijani steel smelter


  • Invested: 2004
  • Exit: 2006
  • Size of Investment: USD 1.3 m
  • Multiple on investment: 2.0x
  • IRR: 26%

Sarnatus Trading

Mosmart hypermarket and supermarket chain


  • Invested: 2004
  • Exit: 2007
  • Size of Investment: USD 29.0 m
  • Multiple on Investment: 2.5x
  • IRR: 38%
Syktyvkar Forest

Integrated pulp & paper business, later sold to Anglo American

  • Invested: 1997
  • Exit: 2002
  • Size of Investment: USD 2.6 m
  • Multiple on Investment:
    8x
  • IRR: 56%

Troika Dialog

Full service Russian investment bank

  • Invested: 1999
  • Exit: 2006
  • Size of Investment: USD 3.6 m
  • Multiple on Investment: 9.2x
  • IRR: 43%
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