Sebastian Rice Quoted in Private Equity International on Russia’s PE Market
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Akin Gump cross-border transactions partner Sebastian Rice has been quoted in the Private Equity International article “Russian private equity hangs in the balance,” which reports on the state of the private equity market in Russia. Limited partners, the article notes, have named Russia the least attractive emerging market in four of the past five years.
Rice observed that there has been “a significant impact on the ability to raise funds and that obviously has a knock-on effect for investment [in Russia].”
According to the article, Russia’s largest private equity firm, Baring Vostok Capital Partners, had been preparing to raise its sixth fund when its American founder was arrested in February on fraud charges. Those plans have since been put on hold.
“It’s probably a little too soon to know what impact [Baring Vostok] had because there are so many other factors at play in Russia and global politics," Rice added. “We’ll know more as funds try to raise capital and start hearing what investors are saying about whether or not they’re willing to commit.”
