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18 August 2017
ICU COMPLETES UKRSIB CAPITAL MANAGEMENT ACQUISITION
Kyiv, 18 August 2017 - ICU, the independent asset management, private equity and investment advisory firm specialising in Central and Eastern Europe, is pleased to announce the acquisition of UkrSib Capital Management LLC, a subsidiary of UkrSibbank and part of the BNP Paribas Group, was completed on 17 August 2017.
As a result of the acquisition, ICU assets under management have increased by UAH752.6m (€24.6m) as of 14 August 2017.
Konstantin Stetsenko, Managing Partner of ICU, said:
“We are pleased that the deal has now received the necessary regulatory approval and officially completed. The acquisition will generate valuable synergies and is in line with the strategy to strengthen our asset management division with non-state pension funds ahead of landmark pension reform in Ukraine. UkrSib Capital Management is an exciting business with its foundations firmly rooted in a western-style financial model characterized by robust management standards, transparency, and stability.”
FOR FURTHER INFORMATION, PLEASE CONTACT
Montfort Communications
Gay Collins/Rory King
(+44 (0)203 770 7905 / +44 (0)203 770 7906)
About ICU
ICU is an independent asset management, private equity and investment advisory firm specialising in the emerging markets of Central and Eastern Europe.
ICU was founded in 2006 by senior investment professionals from ING and currently manages over $400m in assets. Since 2010 ICU’s flagship CIS Opportunities Fund has delivered returns exceeding 16 percent per year, net of fees, versus less than 1% annual returns for the HFRI Emerging Markets Russia/Eastern Europe Index over the same period.
ICU’ veteran investment team has experience in private equity, high yield corporate debt, distressed debt, restructurings and other special situations across a number of emerging markets. Investment decisions are supported by robust macroeconomic and sectoral analyses from in-house team of research economists.
ICU team aims to provide superior risk-adjusted returns across a number of asset classes. The firm is expanding its reach into key European markets via a combination of organic growth and acquisition and continues to expand the range its investment offerings.
About UkrSib Capital Management
UkrSib Capital Management was founded in 2013 as an institutional asset management company and pension fund administrator within UkrSibbank, a leading financial institution in Ukraine majority owned by BNP Paribas Group. UkrSib Capital Management has assets under management of UAH752.6m (€24.55m) over four corporate investment funds and one non-state pension fund.