Moscow Exchange to invest over 10 bln rubles in private equity funds to support future issuers

MOSCOW. March 20 (Interfax) - The Moscow Exchange has decided to create a line of private equity funds to support companies planning future IPOs as part of its strategy to develop the capital market, the exchange said in a press release.

"The main objective of the funds will be to become an effective mechanism for attracting private capital for promising companies at late stages of preparation for listing on the public market. The funds' work will promote the further development of the Russian capital market and the growth of the number of public companies on the primary market," the exchange said.

The Moscow Exchange will initially invest more than 10 billion rubles in creating the funds, but its share of total investment will not exceed 20%. The investment portfolios will be compiled by professional fund managers.