Bank Saint Petersburg’s New Private Equity Fund

Walkers (Jersey) has advised a listed bank (Moscow exchange) on the launch of a new private equity fund.

One of the largest Russian regional banks, Bank Saint Petersburg (BSPB) has key operations in Saint Petersburg, Leningrad Region, Moscow and Kaliningrad and is one of the top 20 Russian banks.

The fund will focus on private equity investments aimed on high growth technology companies in Russia and elsewhere. The fund is the first investment structure launched by BSPB and plans to raise between US$30m to US$70m, with the investor base consisting primarily of BSPB’s own capital in addition to their existing business network contacts.

BSPB was looking to create an efficient investment structure to provide it with private equity exposure, in addition to their 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.

Walkers has advised with a team led by Sophie Reguengo (Picture).

Involved fees earner: Sophie Reguengo – Walkers Global;

Law Firms: Walkers Global;

Clients: Bank St Petersburg PJSC;