Emerging Markets.ME 14 May 2012
AGC Equity Partners has acquired $175m interest in a major Russian generating company in what is seen as the largest-ever Middle East investment in Russia.
The London-headquartered firm with a team in the Middle East is part of an international consortium that has bought a 26.43% blocking stake in Italian-controlled Enel OGK-5 from the Inter RAO UES energy company.
The Russian Direct Investment Fund (RDIF), a sovereign fund set up last year to promote private equity investment in Russia, is another member of the alliance, according to statements from RDIF and Russia’s Renaissance Group today.