Property advisor Knight Frank is setting up a fund to invest about $1bn (EUR 762 mln) in offices and shopping centres across Russia's major cities, newspaper Vedomosti has reported. Knight Frank's Rutley Capital Partners will join forces with Duet Private Equity, GVA Sawyer and some other partners to launch the Rutley Russia Property Asset Management fund.
Property advisor Knight Frank is setting up a fund to invest about $1bn (EUR 762 mln) in offices and shopping centres across Russia's major cities, newspaper Vedomosti has reported. Knight Frank's Rutley Capital Partners will join forces with Duet Private Equity, GVA Sawyer and some other partners to launch the Rutley Russia Property Asset Management fund.
Rutley Russia has raised $100 mln through a private placement on the London stock exchange and the company is planning to raise $400 mln through an initial public offer in London at the end of 2007, while the remaining $500 mln will be raised from debt, Vedomosti said.
