We are no longer children: how the relatives of officials manage investment funds

Children of senior bureaucrats invest tens of millions of dollars in investment projects. Do their infulential parents help them?
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Children of former and current officials are increasingly changing banking positions at its asset management business. They create a private equity and venture capital funds, using its own funds and attract tens of millions of dollars of foreign investors. Money and patriotism do not always stand side by side, so, despite the sanctions, most foreign projects.

atoms for peace

In 2013, the son of the head of "Rosatom" Vladimir Kiriyenko and his partner Alexander Ayvazov opened a company engaged in investments in venture projects, with an initial capital of $ 47.8 million. The amount was close to the atomic weight of titanium, so the partners named it Titanium Investments (Russian legal entity of the same name Vladimir Kirienko owned structures). Kiriyenko Jr. avoided publicity and did not give comments to Forbes. According Aivazova partners met in 2009, when together with Kiriyenko made in Nizhny Novgorod "Romanov Cinema" premium theater project. Funds for the fund, according to Aivazova Kiriyenko received from the successful sale of a stake in Sarovbusinessbank (formerly Vladimir Kiriyenko headed it) and AVazov earned on the sale in 2012 of commercial real estate - 40% of the cinema "Romanov Cinema" and a 25% stake in the company "Nord Capital".

Kiriyenko served as chairman of the board of directors of Titanium and according Aivazova, was a major financial investor. And if Ayvazov invested, for example, $ 2 million, that Kiriyenko would invest many times more.

Kiriyenko came to the meetings of the Board of Directors and spent it 10-12 hours per week. Ayvazov assumed investment management objectives. "Selection and mathematics - for me, I did [Kiriyenko]" OSes "will not ship. I took on this task in order to compensate for the imbalance in investments ", - said Forbes Ayvazov.

By the end of 2014 Titanium Investments has invested more than a dozen projects, mostly it is Israeli start-ups.

Focus on the Russian company can not, as in the country, according to the partners, there is a sufficient number of worthy projects.

"Israel - a platform number two in the number of start-ups after the US. In the US, with our money is difficult to do something. Also in Israel blizkaya and clear our mentality, reasonable estimates for input. Their market is small, so they build global products ", - says Ayvazov.

The company believes that the Israeli projects may increase the investment in 5-6 times on the horizon of 3-5 years, and in Russia - in 3-4 times on the horizon of three years, but the maximum ceiling for the growth of technology companies in Russia is limited to $ 200 million Appearances. new Mail.ru and "Yandex" Ayvazov Kiriyenko and do not wait.

Titanium usually tries to get from 2% to 20% in each company, is investing half a million dollars from the horizon to five years. The Company does not invest in the early stage (seed-investment) and invests together with respected investors (eg, Blumberg Capital). She is interested in projects with an audience of at least 1.5 million people in Russia and at least 5 million people in Israel.

In Russia, the largest project of Titanium Investments - «Factory online» (invested $ 6 million). The company is engaged in online games, such as "Heroes Online" project is known. Among other Russian projects Cloudpayments - solution for e-commerce market and prompting service toof "Buddhists," (on Wakie West). Other projects - Israeli startups: 365scores service - online broadcasts of sporting events, the calendar for the business person in the smartphone Any.DO, the optimizer photostream Moment.me, Drippler - news application for gadgets, as well as three companies which are engaged in marketing and advertising technologies , - BrightInfo, FeedVisor, Mentad.

Ayvazov plans to increase the capital of the company. "We do not see major problems to increase investment. Money is no longer a problem. Most importantly, you have proved that you know how to make money for themselves and for others ", - he says.

After the summer of 2014 were introduced new sanctions by the EU, Photo Kiriyenko gone to fund the site, although the information about it remained in the cache of search engine "Yandex".

According Aivazova, they Kiriyenko decided at this stage to redeploy assets and Vladimir concentrate on other projects. "The essence of the transaction can not reveal, it was initially tricky, but he gave his participation in the company", - said Ayvazov.

Ermak of Londshe is

The son of former Energy Minister Yury Shafranik Denis in the mid-1990s, went to study in Cheltenham English school and then graduated from the London School of Economics and at the same time oil and gas University. Gubkin in Moscow. But unlike his father, he did not go to the real sector, and nine years as an English investment bank Barclays Capital. Shafranik Jr. as vice-president was in charge of the energy sector and public utilities. According to him, he was involved in projects in the field of energy conservation and renewable energy sources, participated in financing the construction of power plants in the Middle East. In addition, in parallel helped Ilya Belyaev's team, which is organized at Barclays funding of virtually all major Russian companies. In 2012, the Russian's career was interrupted in the British bank. "We have said that the withdrawal from Barclays. Tired of working in a large structure. Although we have worked in a rather interesting time ", - says Belyaev. And like to do their own projects and have begun to venture capital investments, adds Shafranik.

Together with Belyaev and another Russianovoryaschey bank employee Esther Goldberg he opened in 2012 Supremum Capital. Through this company, according to the partners, they invested their own funds and borrowed money to Russian investors.

Although Shafranik worked in senior positions in the SNG group company of his father, he makes sure that his money had never run.

Before Supremum Shafranik Jr. invested independently in various projects through Ermak group, part of which later turned out to be Supremum Capital, Investment.

Denis Shafranik invested with European partners about $ 20 million. Among the investments have a service to sell Biletto tickets, companies engaged in interiors and artwork Alessandro Isola and The New Craftsmen, e-commerce company Pockit, shop sport-luxury Monreal, a wine retailer Vini Italiani, supplier infrared sensor devices Pyreos, an online service for gyms Payasugym, IT-infrastructure developer for e-commerce Atosho, three British companies operating in the energy sector, - Chargemaster (charging for electric vehicles), Ceres Power (solid oxide fuel cell technology), Sustainable Power ( mikroTES), as well as the processing plant mUsora Plasrecycle.

Asset management is divided - Shafranik responsible for investment in Europe, and Belyaev - in Russia. Among the Russian project - one of the market leaders in mobile commerce "Intelligent payments" (partners believe that its market share of 20-25%), the company "Control leasing", offering long-term leasing of cars for individuals, microfinance organization "Vebbankir", "Interregional housing Corporation "develops rental housing with subsequent purchase, together with AHML and the company" House of Finance ", which provides financing secured by real estate. Belyaev calls sum investments only in Russian assets - about 250 million rubles. Previously, partners said that running can be up to $ 100 million.

The only way out of the project - the company Intelligent Energy. The amount of income and the size of the share Shafranik did not disclose, but to invest in the Intelligent Energy Yukos shareholders have invested in it about $ 34 million (from c 2001), and received in the IPO of about $ 70 million.

According Shafranik, in all transactions they are trying to take a minority stake size nless than 10% and not more than 40% almost always involved in operations - and help customers looking for their connections. Management Fee - 2% of assets, and payment for success - 20%. If the plans come true partners and Shafranik receive half in control, he will in the field of clean energy companies. "Then I was engaged in making the world more beautiful and the planet" - says Shafranik.

Indigo children"

In July 2006 the silence of the night in London broke the sirens of police cars. Police discovered lying on his stomach bloodstained Englishman named Ben Ramsey.

Footprints led to the apartment of the nearest house, where police saw several young men in bloodstained shirts. One of them - 24-year-old investment banker, the son of the then Deputy Prime Minister, and now first deputy chairman of the State Duma, head of the Russian Olympic Committee Alexander Zhukov Peter.

Later, the jury sentenced him to 14 months in prison.

Now Peter Zhukov returned to Russia and created the Indigo capital partners (ICP) asset management business. The partners, he invited his friends and acquaintancesI faced at school or work. "The fund was created spontaneously," - Zhukov recalls. The idea of ​​investing in Russian companies emerged after the crisis of 2008, when interest in investment from foreign and local private equity funds fell sharply and there are opportunities to buy attractive assets. After all, when companies are experiencing difficulties, their owners have become more compliant. Although in general, according to ICP partner Oleg Evseev, 80% of entrepreneurs are not pricing their business, retailers, for example, is often compared to sell the company to the "Magnet" and the owners of medical clinics -. With "Mother and Child" "But the same" Magnet "- a unique company, and similar in Russia there is no", - said Yevseyev.

At top management Indigo significant financial experience - Zhukov and his partners worked in UBS, Credit Suisse, Morgan Stanley and Alfa Capital Partners. Indigo Partners while working in investment banks participated in a variety of transactions. Among them - the IPO of LSR companies Kazkommertsbank "Amtel" merger "Rusal" and "SUAL" the E.ON acquisition OGK4 German, sale TV3 "Profmedia" purRetenu Chinese Tencent 10% stake in DST. Having an independent voyage in 2011, the Indigo team has now been able to invest about $ 120 million, mostly in Russia.

Zhukov said that this money friends and former clients (he does not call them names).

The target yield of the Fund - 35% in dollars.

Speaking about his company's investment, he uses the terms "old" and "new economy". The first he attributes the "factory ships", while the second - high-tech projects. The first project was in the "old economy".

ICP has bought a controlling stake in the company "Polimerbyt" after the dissolution of one of the founders of the fund Mail.ru 199 Gregory Finger and Yuri Milner 57. The Indigo is considered that since the purchase in 2010 (before the advent of the fund) cost of "Polimerbyta" increased four times. "The two plants of the company in Moscow. "Polimerbyt" continues to grow even in the current environment. The company produces plastic, all that is possible - products for storage, all for the kitchen, bathroom and garden, "- said Zhukov. In addition, the company pokcalled a dividend yield of 8-9% in dollars.

Another project was the private equity Indigo clinic "Yusupov Hospital", which is engaged in oncology and neurology. Indigo Partners are hoping that we can double the capitalization in the sector of medicine each year. Zhukov sure that Russian companies "old economy" need to have full control and appoint its top management. "In Russia, business is difficult to influence and minimize theft, without control, without being close to the business. It is better when the CFO and CEO of its "- Zhukov said.

Also, the Indigo has venture projects, for which Samir Zhukov drew a whale, previously worked in the "Onexim". In each of these projects ICP invests from $ 1 million to $ 5 million, to the end of November 2014 in eight projects about $ 20 million. Most venture capital firms were invested work outside Russia. For example, at the Indigo Foundation has a stake in the company Pathway Genomics, which specializes in genetic analysis.

Company tests helped Angelina Jolie to make a decision about surgery to remove the breast.

In addition, nrtfele Indigo has a publisher and developer of mobile games in social networks Webgames, the Swedish manufacturer of airbags for Hovding cyclists, the seller of discount coupons "KupiKupon" Innalabs stabilization systems developer and the company Fio Corporation, which allows you to check for viruses in the body and pathogens, such as Ebola, via mobile devices. Also for venture projects in the early stages of a separate company Zhukov Endemic Capital, where his partner is the adviser to the president of "Skolkovo" Alex Beltiukov. By the end of 2014 they had invested the amount of $ 50,000 to $ 100,000 in 10 different companies. The scope of investments - from mobile applications to find restaurants to a new type of wind power plant Urban Green Energy.
Despite the fact that politics is not interested Petr Zhukov, complicate Russia's relations with the West affected the ICP.

According to him, the company was not able to sign several deals due to the appearance of the second sanctions list (his father was not included in them). But the founder of ICP optimistic in his plans - the formation of a couple of years a new fund with newparticipants. The annual fee for Indigo management, according to Zhukov, "in the market", but the exact figures, he did not disclose. As long as the minimum threshold of investment in the fund is $ 10 million, the investors do not take to the streets.