Da Vinci fund first to list on London’s SFM

Da Vinci CIS Private Sector Growth Fund has become the first investment entity to join the Specialist Fund Market, the London Stock Exchange’s market for alternative investment vehicles.

The fund raised around $110m. It plans to invest in non listed equity and equity-related securities of companies in Russia and other country members of the Commonwealth of Independent States (CIS).

Da Vinci Capital Management is an independent investment management company focusing on alternative investment, private equity and structured products in Russia, Kazakhstan, Ukraine and Central Asia. It plans to expand into other markets.

The flagship product of the company is the Da Vinci fund, a closed-ended Guernsey registered company managed by Da Vinci Capital Management, which in turn is advised by a five person team based in Moscow, led by Natalia Ivanova. Ivanova has over 15 years of experience in investment banking and asset management, working for Russian and foreign companies.

Assets under manager in the Guernsey-registered Da Vinci Capital Management total $250m in the Obigest Fund and partner funds which are currently targeting to rise up to $500m.

There are plans to launch a series of long/short hedge funds, providing targeted access to various asset classes within the CIS, such as equities, real estate and fixed income. The first will be the CIS Special Opportunities Fund Equity, an open-ended Cayman Island fund.

“[The listing} is a major milestone for the fund, our flagship product. We have been careful to build an organization that possesses unique complementary skill sets in both public and private equity, and we look forward to generating continued value for existing and future shareholders as the fund starts its life on a public market,” Commented Oleg Jelezko, founder and managing partner of Da Vinci.

The specialist fund market is an EU-regulated public capital market specifically designed to offer access to permanent capital for specialist investment vehicles that wish to target institutional, professional and highly knowledgeable investors.