RG Growth (Guernsey) II GP Limited

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 The proposed project is to make an equity investment of up to Eur 15 million in CapMan Russia II Fund, L.P. (“the Fund”), a closed-end private equity fund, domiciled in Guernsey, to be established, which will make growth equity investments in small to mid-sized Russian enterprises. The Fund is a successor fund to CapMan Russia Fund, a 2008 vintage fund of EUR 118.1 million, where IFC is also an investor. The Fund’s target size is EUR 175 million, and it expects to make 12 to 14 investments in small and midmarket companies with growth potential and typically have low leverage. The average investment size will be approximately EUR 12 million for minority positions with strong governance rights. CapMan Russia II Fund is a generalist fund but will focus on the following sectors: consumer goods and services, healthcare, manufacturing and agriculture, IT & telecoms and construction.