UFG Private Equity

UFG Private Equity invests in fast-growing companies in Russia and CIS countries,
focusing on Healthcare, BPO (Business Processes Outsourcing), Telecom
& Technology, and Consumer Staples & Retail. The three UFG Private Equity funds
have a total of $712 million of investments and commitments.
UFG Private Equity also offers co-investment opportunities on larger deals.

Investments

Russian Towers
The first and largest independent telecommunication tower operator in Russia
RuTaxi-Saturn
The largest ride-on-demand company in Russia
E-COM
One of the leading operators for electronic document interchange (EDI) and e-invoicing in CIS
Masha & the Bear
Global licensing business based on Masha & the Bear cartoon
OBL Pharm
Russia’s fast-growing and innovative pharma manufacturer
KDL
One of Russia’s largest diagnostic laboratory chains
KDV
One of the Russia’s leading snacks and confectionary producers
Santens
Logistics for pharma
KARO Film
One of the largest cinema chains in Russia
Rising Star Media Cinema
Cinema multiplexes under the name Kinostar de Lux (was acquired by Cinema Park in 2011)
Yandex
One of the largest Internet companies in Europe operating Russia’s most popular search engine (fully exited in 2014)
Investment Criteria
Expand
UFG Private Equity seeks potential targets that comply with the following criteria:
Management

We back exceptional management teams in businesses where there is a major opportunity to create strategic value for shareholders.

In all transactions UFG Private Equity seeks partnerships with people who have a successful previous track record in managing their companies and proved themselves as competent and honest managers committed to improving their businesses and creating value.

UFG Private Equity aims to achieve a situation where existing owners and managers retain a significant ongoing stake in the business.

Industry
Focus

Our focus is not limited to specific industry sectors but priority is given to Healthcare, Telecom & Technology, Consumer Staples & Retail, and Business Processes Outsourcing (BPO). We have extensive experience of profitably investing in each of these sectors.

Geographic
Preference

UFG Private Equity invests in companies across Russia and the CIS. Our particular focus is on Russia.

Annual
Revenue

UFG Private Equity target investment universe is mid-sized businesses with revenues generally between $20 and $400 million. In addition, in situations when UFG acts as a lead investor syndicating larger size «platform» deals we can also invest in companies with revenues up to $1 billion.

Transaction
Value

Expected equity investment per transaction is $15 to $50 million. UFG Private Equity can also work with co-investors on larger size deals and has a successful track record of syndicating equity deals up to $100-150 million.

Target
Ownership

UFG Private Equity will typically either acquire a sufficient level of ownership in portfolio companies, whether on its own or with other investors, or ensure there are legal mechanisms in place to enable it to exert significant influence on strategic matters and key operating decisions so as to generate significant post-investment value.

We will also consider minority stakes provided that we are comfortable with the ownership structure of the company and the shareholder protection mechanism.

Investment
Stage

We will generally not consider early stage companies. UFG’s strong preference is on «cash-in» deals and growth capital, however, we also consider buy-outs in high-growth sectors and companies with consistent revenues and competitive edge.

Holding
Period

We have no set holding period as the specific timing is often influenced by external factors. As a rule of thumb, we expect the average investment period for our deals to be three to five years. However, significantly longer or shorter periods are possible, depending on specific circumstances.

In order to maximize economic returns to our limited partners when making the decision to exit an investment, we carefully consider the current value of the portfolio company, the price that can be realized upon exit, as well as the future potential of the investment.

Team

Dominic Reed
Dominic Reed
Partner

Dominic Reed joined UFG Private Equity in 2007. Mr. Reed has extensive operational and investment experience, having worked in Russia and CIS countries since 1997.

Prior to arriving in Russia, he worked at NYNEX CableComms in the UK in both operational and corporate development roles.

He holds an MA in English Literature from Cambridge University and an MBA from the London Business School.

Robert Sasson
Robert Sasson
Partner

Robert Sasson joined the UFG Private Equity team in 2009. Mr. Sasson has worked in the Russian investment market since 1991.

Prior to UFG Private Equity, from 2005 to 2008, he worked with a leading U.S. hedge fund on private equity transactions in Russia and Ukraine. From 1993, Mr. Sasson served as the Head of the St. Petersburg office of the European Bank of Reconstruction and Development, where his responsibilities included building a $1.5 billion portfolio of successful debt and equity transactions.

Mr. Sasson holds a degree in Russian Studies and International Government from the University of Exeter.

Arthur Akopyan
Arthur Akopyan
Partner

Arthur Akopyan joined UFG Private Equity in 2012. He has operational and corporate finance experience in telecoms, media, and IT services, having worked in those segments since 1997.

Prior to joining UFG, Mr. Akopyan was the Managing Partner at the NGI venture capital fund. From 2008, he performed restructuring work for several Russian financial holding companies with the main focus on telecommunications and IT.

In 2007–2008, Arthur served as the CFO of Rambler Media (at the time, the first Russian Internet company with a listing on AIM, a sub-market of the London Stock Exchange).

Prior to Rambler, he served as the CFO of Synterra (2005–2007), a leading fiber backbone and fixed-line operator, and the CFO of PeterStar (2001–2005), an alternative telecom operator in St. Petersburg.

Arthur graduated from the Sochi State University (1995) and is qualified accountant with AICPA (2001).

Ivan Litvintsev
Ivan Litvintsev
Managing Director

Ivan Litvintsev has been with UFG Private Equity from the date of its inception (in 2005). Mr. Litvintsev has extensive hands-on investment experience in monitoring and oversight of several portfolio companies, as well as sourcing and analysis of new investment opportunities.

Mr. Litvintsev graduated from the Russian State University for the Humanities with a PhD in Economics.

Yulia Lukianova
Yulia Lukianova
Investment Director

Yulia Lukianova joined UFG in January 2014 as the Investment Director. Ms. Lukianova is responsible for monitoring and oversight of UFG’s current portfolio investments, as well as analysis of new investment opportunities.

Prior to UFG Yulia held the position of senior associate at the Goldman Sachs Special Situations Group, the bank’s principal investment arm in Moscow, where she participated in providing equity and debt capital to mid-market private companies in Russia and CIS countries. During her tenure, Ms. Lukianova was involved in different stages of the investment processes, from due diligence, deal structuring, and closing, to the full cycle of portfolio management and exit from portfolio companies. Prior to Goldman Sachs, in 2007–2010, Yulia held an analyst position at J.P. Morgan in London, where she worked in the M&A department, covering real estate companies in EMEA and providing advisory services on private equity placement. In 2006–2007, Ms. Lukianova was an analyst in the Corporate Finance department of Deloitte & Touche in Moscow.

She graduated with honors from the Moscow State University with a BA in Economics.

Maria Solovieva
Maria Solovieva
Investment Director

Maria Solovieva joined the UFG team in 2011. Prior to joining UFG, Maria worked for a private equity fund at the Ronin Partners investment group, where she was involved in sourcing, valuation, and structuring of deals, as well as monitoring of the fund’s investments. Prior to that, Maria worked in the corporate finance department of Nomos-Bank, where she was involved in M&A transaction advisory services and raising debt financing for M&A deals.

Maria Solovieva graduated from the Financial University under the Government of the Russian Federation.

Olga Yakobson
Olga Yakobson
Investment Director

Olga Yakobson joined UFG Private Equity from Delta Private Equity Partners (DPEP) in 2009. While at DPEP, Ms. Yakobson worked as an investment information manager, managing the investment information flows to and from DPEP and its portfolio companies, and was responsible for the quarterly reporting on the portfolio companies.

Ms. Yakobson holds a diploma in Financial Management from the State University of Management (Moscow).

Ilya O’Guy
Ilya O’Guy
Investment Director

Ilya O’Guy joined UFG Private Equity in 2010 and his primary focus is on the Internet and IT sectors, as well as transportation sector. His prior experience includes Roland Berger Strategy Consultants.

Mr. O’Guy graduated from the Higher School of Economics (Moscow) and obtained his Master’s degree from the HEC Business School (Paris).

Ilga Dostova
Ilga Dostova
Analyst

Ilga Dostova joined UFG Private Equity in 2013.

Her prior experience includes an internship with another private equity fund and research within international project Global Entrepreneurship Monitor.

Ms. Dostova graduated from the Higher School of Economics (Moscow) and obtained her Master’s degree in Financial Economics from ICEF, a program offered by the Higher School of Economics in partnership with the London School of Economics.

Mikhail Gruzintsev
Mikhail Gruzintsev
Chief Counsel

Mikhail Gruzintsev joined UFG in 2008. He is responsible for legal support for investment transactions and, if required, provides legal assistance to portfolio companies.

From 2002 to 2008, he worked for the prominent Russian law firms Padva & Partners, Rappoport & Partners, and Pepeliaev, Goltsblat & Partners, specializing in corporate law and M&A.

Mr. Gruzintsev graduated with honors from the Moscow State Law Academy (MGUA), where he completed both his undergraduate degree (2002) and his graduate studies (2005).

Adrian Parkinson
Adrian Parkinson
CFO

Adrian Parkinson joined UFG in 2009 after the integration of Delta Private Equity Partners (DPEP) with UFG Private Equity.

At DPEP, he served as the Chief Operating Officer and Chief Financial Officer. Prior to that, in 1989-1997 Mr. Parkinson worked at PricewaterhouseCoopers (PwC), moving to Russia in 1995 as a manager specializing in financial services. Mr. Parkinson is a Fellow of the Institute of Chartered Accountants in England and Wales.

He graduated with Honors from Loughborough University, England, majoring in Accounting and Financial Management.

Tatiana Stepus
Tatiana Stepus
Financial Manager

Prior to joining UFG in 2007, Ms. Stepus worked in the finance, accounting, and controlling departments of a subsidiary of BP. As a finance specialist at UFG, she provides support to UFG’s investment team in structuring new investments, overseeing portfolio companies, and preparing reports to the Limited Partners.

She graduated with honors from the Plekhanov Russian University of Economics.