Da Vinci Raises $110M For Ex-Soviet Buyout Fund

May 29 2008 | 9:57am ET

The Da Vinci CIS Private Sector Growth Fund today became the first investment entity to join the Specialist Fund Market, the London Stock Exchange’s new market for alternative investment vehicles.

The fund has raised approximately US$110 million, which it will invest in both non-listed equity and equity-related securities of companies located in Russia and other countries of the Commonwealth of Independent States, which includes a dozen former republics of the Soviet Union.
“Da Vinci’s admission to the Specialist Fund Market, together with the formal listing today of BH Global, the second Main Market fund from Brevan Howard, cement London’s position as the public market of choice for hedge funds and other alternative investment vehicles,” Martin Graham, director of equity markets at the LSE, said. He added that the Specialist Fund Market expects to see more funds follow Da Vinci’s lead over the coming months.

BH Global Limited, a newly established feeder fund investing in Brevan Howard Global Opportunities Master Fund, began trading today, and has raised US$1 billion through a listing on the LSE’s main market.

Da Vinci Capital Management, formed in 2007, manages hedge funds, private equity and structured products in the former Soviet Union. The fund’s shares will be admitted to trading under the ticker symbol DVPS.

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