Verno Hires Kazimir Partners Vets, Plans Debt Fund

Jul 10 2013 | 10:46am ET

Kazimir Partners co-founder and current Verno Capital head Dmitri Kryukov has hired two former Kazimir executives.

Elena Kolchina and Tom Adshead, who exited Kazimir in June following that company's acquisition of the former asset-management arm of investment bank Renaissance Capital, will join Kryukov's Moscow-based, $240 million Verno Capital.

Kolchina, who ran the Russian fixed income fund at Renaissance Asset Managers, will help launch and manage a Verno debt fund employing a similar strategy aimed at delivering consistent returns from income and capital gains through fundamental credit selection. It is expected to be up and running in the third quarter.

Adshead, a 22-year veteran of Russia's markets who joined Kazimir just a year ago from Sito Capital, now joins Verno as a portfolio manager. Adshead has senior experience in both equity research and portfolio management. He spent the early years of his career with the EBRD and CSFB in Moscow, and for the past seven years has held senior buy-side roles as a portfolio manager and head of research. He will assist in managing Verno’s long-short and long-only equity strategies.

Verno has also tapped Natalia Zagvozdina, former head of Russian equity research at Renaissance Capital, as head of research. Zagvozdina built her reputation as an analyst covering Russian and CIS consumer, retail, healthcare and agriculture stocks. At Verno, she will lead the firm’s research function and cover consumer and financial stocks.

Said Kryukov in a statement:

“We are delighted that these three talented professionals have joined Verno. Successfully investing in Russia requires experience and a rigorous research-driven investment process. Natasha, Tom and Elena collectively bring more than five decades of experience in the Russian markets and their skill sets are an ideal complement to the existing Verno team. We are excited that our firm has evolved to the point that we can attract this caliber of talent.”

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