Walkers (Jersey) is advising one of the largest Russian regional banks, Bank Saint Petersburg (BSPB), on the launch of a private equity fund.
The fund will focus on private equity investments aimed at high-growth technology companies in Russia and elsewhere.
It is the first investment structure launched by BSPB. The bank plans to raise $30m-$70m, with the investor base consisting primarily of BSPB’s own capital, in addition to its business network contacts.
BSPB was looking to create an efficient investment structure to provide it with private equity exposure in addition to its day-to-day banking activities.
The fund was set up as a Jersey closed-ended very private fund (limited partnership) with a corresponding Jersey general partner and investment adviser vehicle.
The Walkers team was led by Senior Associate Sophie Reguengo.
Moore Management has assisted BSPB with the launch of its private equity fund structure, led by Jersey-based Technical Director Kevin Gilley.