Russian Developer Fund

complete

The proposed project is an equity investment into Russia Development Fund (“the Fund”), an investment vehicle pursuing long-term capital appreciation through investments in real estate developers and specific real estate projects in Russia, Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Ukraine, and Uzbekistan. The Fund will be organised as a master fund with two investment portfolios. The first Portfolio will be invested into private equity style investments in real estate developers in Russia and the CIS (the “Developer Portfolio”) and the second portfolio will be invested into specific real estate project investments (the “Project Portfolio”). Another leading institutional investor in Russian real estate will be a major investor in the Fund. The strategic input of the Bank is essential in various aspects: The key objective of the Bank’s involvement lies in the support of a real estate fund which will concentrate its activity on real estate markets in Russia, Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Ukraine, and Uzbekistan. EBRD’s catalyst role will support the development of the secondary markets and will provide a hands-on support for the restructuring and/or development of the corporate governance of investee companies. This will provide much needed liquidity and encourage equity investors to expand their participation in the real estate sector in the Region. A special purpose vehicle, the Russian Developer Fund, organised under the laws of the Cayman Islands and managed by IMG Partners Ltd (fund management company with a solid track of private equity investments in Russia). 20% of the Fund’s total equity up to EUR 75 million. Up to EUR 450 million. Screened FI. The Client is required to implement the Bank’s Environmental Procedures for Equity Funds for the Developer Sub-Fund, and Environmental Procedures for Property Funds for the Project Sub-Fund including adequate environmental due diligence and monitoring for each sub-project and submission of Annual Environmental Reports to the Bank. None. Ms. Janet Woo Principal Banker EBRD One Exchange Square London EC2A 2JN Tel. +44.207.338.6720 Email: wooj@ebrd.com