VEB, Adams Street Partners sign cooperation deal
MOSCOW. July 9 (Interfax) - Vnesheconombank (VEB) and international investment group Adams Street Partners (ASP) have signed a cooperation agreement, VEB said in a press release.
The agreement aims to expand the access of Russian companies to long-term financial resources in the form of direct investment in their share capital. VEB and Adams Street Partners want to pay special attention to the development of direct investment infrastructure in Russia, including with the establishment of joint investment funds.
The priorities of this cooperation comply with the memorandum on VEB financial policy and ASP requirements and envisage projects in infrastructure, energy and resource efficiency, support for small business, the pharmaceuticals and medical industry, technology, innovation and so on.
Adams Street Partners was established in 1972 in the United States. The company invests directly into share capital with funds from private and institutional investors. ASP investors include major pension and sovereign funds, international corporations and individuals. At the start of 2013, ASP was managing $22 billion.
