Mubadala Agrees to Invest $100 Million with Verno Capital

Mubadala Agrees to Invest $100 Million with Verno Capital
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Published November 30th, 2010 - 08:32 GMT

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Mubadala Development Company
Mubadala Development Company
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Abu Dhabi
,
Kazimir Partners
,
Mubadala Development Company
,
Verno Capital
,
CIS
,
Dimitri Kryukov

Mubadala Development Company (Mubadala), the Abu Dhabi-based strategic development and investment company, and Verno Capital (Verno), a specialist fund manager in the capital markets of Russia and the CIS, today announced that Mubadala will invest $100 million into Verno managed funds. This agreement represents Mubadala’s first investment in the Russian market. Verno Capital was founded by Dimitri Kryukov and his three Partners, who together are one of Russia’s most experienced and successful investment teams. Chief Investment Officer Kryukov has 18 years capital markets experience in the region. Before establishing Verno, Kryukov and his senior team were at Kazimir Partners which delivered annualized returns to investors of 30% from inception in 2002 to 2008. Mubadala Chief Executive Officer Khaldoon Al Mubarak, said, “Russia’s recent economic performance and the future potential for the broader region make it an exciting new market for Mubadala. Following an analysis of opportunities in Russia, it became clear that the most effective approach to our first investment in the region was to collaborate with a proven local partner. We are therefore pleased to announce our partnership with Verno whose leadership has a great track record. We are confident that together we will foster a strategic relationship that will create new investment opportunities for both Mubadala and Verno.” Verno is attracting new funds into the Russian and CIS capital markets, targeting investors from emerging markets in the Middle East and Asia as well as from the traditional markets of the USA and Europe. Investors looking to capitalize on the potential of the Russian and CIS markets through Verno managed funds will be supported by Verno offices in Russia, Switzerland and the USA. “Mubadala is a world class investor and our partnership offers both organizations the opportunity to capitalize on the dynamic potential of the Russian and CIS markets,” said Dimitri Kryukov, founder of Verno Capital. “At the same time Mubadala is at the vanguard of a new class of investors into Russia. We believe this vote of confidence is a signal to top emerging market investors around the globe.”

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