OTKRITIE completes the investment phase for its flagship energy fund

OTKRITIE Financial Corporation has completed the initial investment phase of the OTKRITIE UES Capital Partners Fund PLC (the Fund) following the acquisition of interests in selected Russian power companies.
The Fund's investments at the initial stage were primarily focused on the acquisition of RAO UES ordinary shares that after June 30, 2008, pursuant to RAO UES reorganization procedures, were converted to a basket of 23 independent companies.
The Fund’s assets are approximately valued at USD 2.4 bln, 99.6% of which is represented by shareholdings in power companies. The Fund will now begin to actively manage the portfolio.
OTKRITIE UES Capital Partners Fund PLC is registered according to the legislation of the Republic of Cyprus. The management of the assets is being conducted by OTKRITIE Finance (Cyprus) Ltd. (a subsidiary of OTKRITIE Financial Corporation LLC), which is regulated by the Cyprus Securities and Exchange Commission (CySEC). The Fund acquired both some of the available treasury stock from RAO UES as well as RAO UES shares in the free market.
OTKRITIE Financial Corporation is one of the leading Russian investment companies, providing a full range of services to institutional and private investors on the Russian and international financial markets. OTKRITIE FC has an extensive pool of expertise in the utilities sector. The company completed more than 10 projects as financial advisor to RAO UES and its subsidiaries, including the reorganization of the distribution grid companies (DGC) into the inter-regional distribution grid companies (IDGC), bond issues of TGC-1, TGC-10 etc. For more information about OTKRITIE FC please refer to www.open.ru.