Alfa Capital Partners Announces the Final Closing of US OPIC Sponsored US$180 million Maritime Infrastructure Fund
21 Apr 2005
Moscow, April 21, 2005 – Alfa Capital Partnerstoday announced the final closing and relaunch of The Great Circle Fund LP, a $180 million private equity fund created to invest in maritime transportation, infrastructure and logistics in emerging markets, primarily in Russia, Ukraine, the other countries in the Former Soviet Union, southeastern Europe, the Balkans, Turkey and other parts of the Mediterranean. OPIC will provide a significant portion of its funding.
Under the terms of an agreement between OPIC, Great Circle Capital, Alfa Capital Partners, and Probel Capital Management, Alfa Capital Partners has entered into The Great Circle Fund LP as a limited partner and regional manager, and Probel Capital Management has joined the Fund as a limited partner and sub-advisor to the Investment Manager of the Fund.
OPIC Acting President and CEO Ross Connelly said, “The Great Circle Fund illustrates OPIC’s continuing commitment to support infrastructure development in the target region, and to partnering with quality organizations such Alfa Capital Partners, Probel Capital Management and Great Circle Management.”
Commenting on the new partnership, Alfa Group Chairman, Mikhail Fridman said “Alfa Group participation in The Great Circle Fund is another sign of our long term commitment to attracting foreign direct investment to Russia, Ukraine and the CIS and to investing in growth sectors. It also evidences the success of our organization in achieving international standard fund management practices.”
Richard Sobel, CEO of Alfa Capital Partners, said, “For Alfa Capital Partners this new partnership represents a major step in developing our family of funds specializing in private equity and real estate in Russia, Ukraine and the Former Soviet Union.”
“We are extremely excited to partner with Alfa Capital and Probel. Their successful track records and deal sourcing capabilities significantly enhance our coverage and investment potential in the region” added Paul Rapello, Managing Director of Great Circle Capital.
Overseas Private Investment Corporation
OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.
OPIC’s political risk insurance and financing help U.S. businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide. Over the agency’s 33-year history, OPIC has supported $164 billion worth of investments that have helped developing countries to generate more than 732,000 host-country jobs and $13 billion in host-government revenues. OPIC projects have also generated $69 billion in U.S. exports and created more than 264,000 American jobs.
For more information about Overseas Private Investment Corporation, please contact Lawrence Spinelli at (202) 336-8690 and Timothy Harwood (202) 336-8744 or visit www.opic.gov
Alfa Capital Partners
Alfa Capital Partners is a private equity and real estate investment firm established by Alfa Bank, Russia's largest privately owned financial services group, and its parent Alfa Group, one of Russia largest financial and industrial groups. Alfa Capital Partners invests in small and medium sized companies and in real estate in Russia, Ukraine and the Former Soviet Union. Alfa Capital Partners’ strategy is to partner with leading companies and management teams, playing an active role strategically and financially in helping to develop their businesses.
For more information about Alfa Capital Partners, please contact Mr. Richard Sobel, CEO at rsobel@alfacp.ru, Mr. Andrey Shtyrba, Managing Director at ashtyrba@alfacp.ru and Ms. Anna Shumaylova, Marketing Coordinator, at: +7 095 775-1828 or ashumaylova@alfacp.ru or visit www.alfacp.ru
The Great Circle Fund LP
The Great Circle Fund is a US-based private equity Fund dedicated to equity investing in the maritime industry with particular emphasis in the following areas: ports and terminals, niche shipping, energy support, maritime services.
Great Circle’s geographic focus is primarily on investment opportunities in the CIS, Turkey and in the Baltic and Mediterranean regions. Great Circle typically seeks to invest $10-$25 million per transaction.
Great Circle Capital LLC and affiliates based in Stamford, CT act as the General Partner and Investment Manager of the Fund.
For more information about The Great Circle Fund LP or Great Circle Capital LLC, please contact Mr. Paul Rapello, Managing Director, at prapello@greatcirclecapital.com or visit www.greatcirclecapital.com
Probel Capital Management
Probel Capital Management NV, founded in 1991, is a Belgian general private equity and real estate investment firm established to provide long term capital and value-added development partnerships to high quality partners and projects.
Probel Capital Management invests in medium sized later stage private equity opportunities across a range of industries both in Europe and the USA as well as in early stage commercial real estate investments in Western and Eastern Europe and later stage buy-out opportunities in Eastern Europe and the CIS countries.
For more information about Probel Capital Management please contact Mrs. Sarah Reyn at: reyn@probel.be or visit www.probel.be
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