NEWS
June 2, 2021
Gulf Investment Limited increases its stake in Detsky Mir up to 29,99%
June 2, 2021 – Gulf Investments Limited ("Gulf"), the investment vehicle of Altus Capital, has completed acquisition of 36,920,000 additional shares of PJSC "Detsky mir" ("Detsky Mir") and became holder of 29,99% of the total number of shares of Detsky Mir.

*******

Altus Capital is an independent investment firm focusing on primarily fast-growing companies. Altus Capital's investment strategy focuses on sector-wise diversification, visible exit strategy and high growth potential. Altus Capital is not limited to geographical restrictions but traditionally focuses on the Russian market. Altus Capital was founded in 2014 by two partners of UFG Wealth Management Ltd. – Oksana Kuchura and Dmitry Klenov.
April 26, 2021
Gulf Investment Limited increases its stake in Detsky Mir up to 29,99%
April 26, 2021 – Gulf Investments Limited ("Gulf"), currently holding 25% of the total number of shares in PJSC "Detsky mir" ("Detsky Mir") has entered into binding arrangements pursuant to which it will acquire 36,920,000 additional shares and become holder of 29,99% of the total number of shares of Detsky Mir.
Gulf has already received on April 2, 2021 a clearance from the Federal Antimonopoly Service of Russian Federation approving the foregoing acquisition, which is expected to complete shortly.
March 15, 2021
Altus Capital welcomes new partners
March 15, 2021 ­– Altus Capital ("Altus") welcomes new partners.

Sergey Vasiliev joined Altus Capital in 2016 as Managing Director. Mr. Vasiliev focuses on the group's business development, investment strategy and operational efficiency.

Sergey Vasiliev has expertise in the field of private equity investments, M&A, investment-banking and M&A advisory. Mr. Vasiliev has an outstanding track record, having successfully completed more than 20 deals totaling more than $1 billion, including the purchase of 29% share in Public Joint-Stock Company «Pharmacy chain 36.6», 96% in the Swedish scoring operator Instantor, localization of production of IskraTel telecommunication equipment on the territory of Russia on the basis of a joint enterprise, purchase of shares of JSC «Voltyre Prom», Sitronics, acquisition by a consortium of investors of shares in public companies Tigers Realm Coal, ALROSA and others.
From 2014 to 2016 he has served as Legal and Operational Director of Pangeo Capital, a private equity group with $1 billion of capital. Until 2013, he held various positions in the Russian Direct Investment Fund (RFPI), a sovereign investment fund of Russia with more than $10 billion of committed capital, international law firms Cleary Gottlieb Steen and Hamilton and Clifford Chance. Sergey Vasiliev was involved in the organization of the first Eurobonds issues of the Russian Federation, nominated in rubles, and IPOs of the leading Russian companies on London and Moscow exchanges.

Andrey Pozhitkov joined the Altus Capital team in 2019 as Executive Director. Mr. Pozhitkov is responsible for development of regional projects in Russia and the CIS, as well as for the development of Altus Capital's presence in Europe.

Andrey Pozhitkov is highly experienced in the field of securitization, has structured the first derivative transactions in Russia, was a member of the main committee for the development of derivative documentation adapted for the Russian market, which he successfully implemented for his clients - major international financial institutions, from Asia to Europe and the United States.
Prior to joining Altus Capital, A. Pozhitkov served as the Business Development Director at UFG Wealth Management Family Office. From 2012 to 2017, as Vice President of Credit Suisse Bank (Moscow) he successfully realized the first $ 135 million foreign currency-interest-rate swap with NCSP Group to hedge a bond issue, he was responsible for issuing exchange-traded structured bonds, and successfully implemented netting in Russia for Credit Suisse group. From 2010 to 2012, at the law firm Allen & Overy Legal Services (Moscow), he led the acquisition by Goldman Sachs of a stake in the share capital of Bank of Moscow OJSC, and the subsequent sale in favor of VTB Bank.

*******

Altus Capital is an independent investment and consulting group focusing on private equity investments in high-growth and undervalued companies. Its investment strategy is characterized by high sector-wise diversification, a clear exit strategy and medium term investment horizon (from 1 year to 5 years). The company is focused on projects from Russia and CIS, but does not limit the geography of its investments. Total volume of transactions with the participation of Altus Capital as of the end of 2020 exceeds $ 1.5 billion.

January 21, 2021
Acceptance of new investors in Altus Capital's investment vehicle
January 21, 2021 ­– Altus Capital ("Altus"), announces having reached arrangements with two additional investors pursuant to which they will become shareholders of sub-fund of Gulf Investments Limited, the investment vehicle of Altus Capital through which it holds 25% of the total number of shares in PJSC "Detsky mir" ("Gulf").

The new investors are Mr. Pavel Grachev and Mr. Mikhail Stiskin, recognized Russian executive and investment professionals - will become pursuant to the agreement the largest shareholders of Gulf.

Altus would also like to announce that Gulf will re-submit its application to the Federal Antimonopoly Service of Russia to enable it to increase its stake and acquire up to 29.9% of the total number of shares in PJSC "Detsky mir", as was initially announced by Gulf.

The completion of the new investors' acceptance is expected to take place shortly, subject to satisfaction of certain legal conditions.

Dmitry Klenov, managing partner of Altus Capital commented:

"We are pleased to welcome new investors that see long-term value in "Detskiy Mir", share our views on the company and support the current management as well as the company's strategy, long term objectives and existing dividend policy"

*******

Altus Capital is an independent investment firm focusing on primarily fast-growing companies. Altus Capital's investment strategy focuses on sector-wise diversification, visible exit strategy and high growth potential. Altus Capital is not limited to geographical restrictions but traditionally focuses on the Russian market. Altus Capital was founded in 2014 by two partners of UFG Wealth Management Ltd. – Oksana Kuchura and Dmitry Klenov.

Pavel Grachev since 2013 holds the position of Chief Executive Officer of the largest Russian gold producer Polyus. Prior to that Pavel in his professional career served as chief executive office of the leading potash producer Uralkali and then of the Far East and Baikal Region Development Fund,

Mikhail Stiskin since 2013 holds a position of Senior Vice President for Finance and Strategy of the largest Russian gold producer Polyus. Prior to that in his professional career Mikhail held position of a Managing director at Sberbank CIB (until 2011 known as Troika Dialog) responsible for research coverage of metals and mining sector.
December 30, 2020
Altus Capital invests 30 million rubles to the crowdlending platform «Smally»
December 30, 2020: the international investment group Altus Capital, represented by its Managing Partner Dmitry Klenov, acquired a stake in Smartinvest, the operator of the crowdlending platform for financing public procurements Smally.

The Smally project was launched in 2019 and specializes in lending for the government contracts execution under Federal Law. On the platform, borrowers (mostly, representatives of small businesses) can attract financing from investors within one day at rates from 19% to 25% per annum for up to 4 months in the amount of up to 10 million rubles. The platform earns a commission on the amount of funds funded at the time of loan return thereby sharing the risks with the investor - one of the key features of this platform.

Smally's target market segment (low-value government purchases (under supply agreements) among small and medium-sized businesses) exceeds 1 trillion rubles and will show stable growth regardless of the macroeconomic situation.

Since the platform was launched, more than 1,000 investors have been registered and over 700 loans, worth more than 200 million rubles, have been financed in the absence of defaults on the part of borrowers This fact confirms the opinion of experts who believe that Smally has one of the most advanced quality assessment systems today.

"Smally is an excellent practical case for the implementation of an innovative service that provides direct interaction between creators and investors," says Dmitry Klenov, Managing Partner at Altus Capital. "For us, the platform's potential consists not only in the growth of the crowdlending market and the development of alternative investment instruments in Russia, but also in the ability to support small and medium-sized businesses, as well as entrepreneurial initiatives in the country."

At the moment, Smally is one of the 3 largest crowdlending platforms in the Russian market in terms of the number of loans issued per month, and the volume of financing on the platform has grown more than 50 times over the year.

The funds for the round will be used to visually refine the platform, launch new product solutions for investors and borrowers, expand the team and market the service to a wide audience of potential clients.


About Altus Capital

Altus Capital is an independent investment and consulting group focusing on direct investments in fast-growing and underestimated companies. Its investment strategy is characterized by high sector-wise diversification, clear exit strategy and medium term investment horizon (from 1 year to 5 years). The company is focused on projects from Russia and CIS countries, but does not limit the geography of its investments.
November 30, 2020
Altus Capital Launches a Tender Offer for Shares in Public Joint-Stock Company Detsky Mir
November 30, 2020 – Altus Capital through its investment vehicle (the "Offeror") announces today an invitation to eligible holders of ordinary shares of Public Joint-Stock Company "Detsky mir" ("Detsky mir PJSC" or the "Company") to submit applications to sell for cash ordinary registered shares of Detsky mir PJSC (the "Shares") on the terms and conditions set forth in the Tender Offer Memorandum, dated November 30, 2020 (the "Tender Offer Memorandum") (the "Tender Offer"). As a result of the Tender Offer the Offeror intends to purchase up to 220,961,000 Shares, constituting 29.9% of the total number of issued and outstanding Shares.

The participating shareholders will receive an all-cash consideration of RUB 160 for each Share purchased. The proposed purchase price is a record-high price for the Shares and is based on RUB 118,240 million valuation for 100% of total number of issued and outstanding Shares. The purchase price represents:
  • a cash premium of 27.9% to the closing price per Share on the Moscow Exchange of RUB 125.12 as of November 27, 2020;
  • a cash premium of 33.3% to the 1-month volume weighted average price per Share ("VWAP") of RUB 120.001;
  • a cash premium of 38.0% to the 3-month VWAP of RUB 115.931;
  • a cash premium of 43.2% to the 6-month VWAP of RUB 111.741; and
  • a cash premium of 42.9% to the price per share in the most recent SPO of the Company in September 2020, which was RUB 112.00.
Calculated as November 27, 2020.

Given the premium offered, the Tender Offer represents a compelling opportunity for eligible shareholders of the Company to realise certain and immediate value.

The eligibility, the purchase price, the procedure for submission of applications to enter into share purchase agreements, the procedure for the acceptance of applications duly submitted, the terms of the transfer of, and payment for, the Shares accepted for purchase in the Tender Offer and other matters relating to the Tender Offer are subject to the terms and conditions set forth in the Tender Offer Memorandum.

Number of Shares

In the aggregate, not more than 220,961,000 Shares, constituting in the aggregate 29.9% of the total number of issued and outstanding Shares (the "Maximum Number of Shares"), will be purchased in the Tender Offer. If the aggregate number of all validly tendered Shares exceeds the Maximum Number of Shares, the number of Shares, which will be accepted and purchased in the Tender Offer, will be determined on a pro rata basis as described in the Tender Offer Memorandum.

Tender Offer procedures and other information

The Tender Offer is made on, and is subject to, the terms and conditions described in the Tender Offer Memorandum.

The period for submission of applications to sell the Shares commences on December 3, 2020, unless an earlier date is announced by the Offeror prior to such date, and expires at 4:00 p.m., Moscow time, on December 18, 2020 (the "Tender Period").

Dmitry Klenov, Managing Partner of Altus Capital:

"Altus Capital has a track record of value unlocking transactions in the Russian market. We see long term value in Detsky Mir as a leading player in the rapidly developing childrens' goods market."

Altus Capital is an independent investment firm focusing on primarily fast-growing companies. Altus Capital's investment strategy focuses on sector-wise diversification, visible exit strategy and high growth potential. Altus Capital is not limited to geographical restrictions but traditionally focuses on the Russian market. Altus Capital was founded in 2014 by two partners of UFG Wealth Management Ltd. – Oksana Kuchura and Dmitry Klenov.

The Offeror reserves the right to reduce the Tender Period at its sole discretion and purchase only those Shares that will have been tendered by such date. Therefore, eligible shareholders of the Company wishing to participate in the Tender Offer are encouraged to tender their Shares as soon as practicable following the date of this announcement.

The Offeror also encourages shareholders of the Company to read the full details of the Tender Offer set forth in the Tender Offer Memorandum, which contains the terms and conditions of the Tender Offer and other important information, as well as detailed instructions on how eligible shareholders of the Company can submit applications to sell their Shares in the Tender Offer.

Questions and requests for assistance in connection with the tendering procedures may be directed to IRC-R.O.S.T. during business hours at: Joint Stock Offeror Independent Registrar Offeror R.O.S.T., 18 bldg. 5B, Stromynka Street, Moscow, Russian Federation, email: gulf@rrost.ru, tel.: 8-800-555-99-97 (from within the Russian Federation).

Copies of the Tender Offer Memorandum, the Application to Tender Shares and related documents are or will today be made available at a dedicated website at: www.altus-offer.com.

The Offeror may appoint a reputable financial advisor to act as its solicitation agent to facilitate the transaction.

The decision whether to submit applications to sell Shares may entail certain risks and considerations. In deciding whether to participate in the Tender Offer and submit applications to sell Shares, holders of Shares are urged to consider the information that is contained in the Tender Offer Memorandum and seek independent financial, legal and tax advice.

None of the Offeror, its management or directors, IRC-R.O.S.T. or any other professional advisers to the Offeror makes any recommendation as to whether a holder of Shares should or should not tender Shares pursuant to the Tender Offer. You must make your own decision as to whether to tender your Shares and, if so, how many Shares to tender. In doing so, you should consult your own financial, legal and tax advisers, and carefully read and evaluate the information in the Tender Offer Memorandum.

About the Investment Vehicle

The investment vehicle designated by Altus Capital to purchase the Shares pursuant to the Tender Offer Memorandum is Gulf Investments Limited, a company incorporated and existing under the laws of Bermuda with its registered address at: Williams House, 4th floor 20 Reid Street, Hamilton HM 11. The purchase of Shares in the Tender Offer will be made by Gulf Investments Limited using financing obtained by the Offeror. The Tender Offer is not subject to a financing condition.

OFFER AND DISTRIBUTION RESTRICTIONS

For the purposes of this announcement, "United States" means the United States of America, its territories and possessions, any state of the United States of America and the District of Columbia. This announcement does not constitute an offer or an invitation to participate in the Tender Offer in the United States or in any other jurisdiction in which, or to any person to or from whom, it is unlawful to make such offer or invitation or where such participation would not be permitted under applicable laws. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Offeror to inform themselves about, and to observe, any such restrictions. Nothing in this announcement or the Tender Offer Memorandum constitutes an offer to buy or the solicitation of an offer to sell the Shares (and applications to sell Shares pursuant to the Tender Offer will not be accepted from any shareholder) in any circumstances in which such offer or solicitation is unlawful.

United States. The Tender Offer is not being made, and will not be made, directly or indirectly in or into, or by use of the mail of, or by any means or instrumentality of interstate or foreign commerce of or of any facilities of a national securities exchange of, the United States. This includes, but is not limited to, facsimile transmission, electronic mail, telex, telephone and the internet and other forms of electronic communications. The Shares may not be tendered in the Tender Offer by any such use, means, instrumentality or facility from or within the United States or by persons located or resident in the United States. Accordingly, copies of this announcement, the Tender Offer Memorandum and any other documents or materials relating to the Tender Offer are not being, and must not be, directly or indirectly mailed or otherwise transmitted, distributed or forwarded (including, without limitation, by custodians, nominees or trustees) in or into the United States. Any purported tender of Shares in the Tender Offer resulting directly or indirectly from a violation of these restrictions will be invalid and any purported tender of Shares made by a person located or resident in the United States or any agent, fiduciary or other intermediary acting on a non-discretionary basis for a holder of Shares giving instructions from within the United States will be invalid and will not be accepted.

Each shareholder participating in the Tender Offer will represent that it is not located or resident in the United States and is not participating in the Tender Offer from the United States or acting for a holder of Shares located or resident in the United States or that is giving an order to participate in the Tender Offer from the United States.

****** Enquiries

pr@altus-offer.com

IMPORTANT NOTICE TO INVESTORS

This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum contain important information which should be read carefully before any decision is made with respect to the Tender Offer. If any shareholder of the Company is in any doubt as to the action it should take, it is recommended to seek its own financial and legal advice, including as to any tax consequences, from its stockbroker, bank manager, solicitor, accountant or other independent financial adviser. None of the Offeror, IRC, nor any of their respective directors, officers, employees, advisers, agents or affiliates makes any recommendation as to whether the Company's shareholders should submit applications to sell their Shares pursuant to the Tender Offer. None of the Offeror, IRC, nor any of their respective directors,

officers, employees, advisers, agents or affiliates, is providing the Company shareholders with any legal, business, tax or other advice in this announcement and/or the Tender Offer Memorandum. Company shareholders should consult with their own advisers as needed to assist them in making an investment decision and to advise them whether they are legally permitted to tender Shares for cash in the Tender Offer.

THIS ANNOUNCEMENT IS NOT INTENDED TO, AND DOES NOT CONSTITUTE, OR FORM PART OF, AN OFFER TO SELL OR AN INVITATION TO PURCHASE, EXCHANGE OR SUBSCRIBE FOR ANY SECURITIES IN ANY JURISDICTION. THIS ANNOUNCEMENT DOES NOT CONSTITUTE A PROSPECTUS OR A PROSPECTUS EQUIVALENT DOCUMENT.

NEITHER THIS ANNOUNCEMENT NOR ANY INFORMATON CONTAINED HEREIN, INCLUDING INFORMATION ON THE TERMS OF SUBMITTING APPLICATIONS TO SELL SHARES AND THE TERMS OF ANY SHARE PURCHASE AGREEMENTS, IS INTENDED FOR MEMBERS OF THE PUBLIC OR CONSTITUTES A PUBLIC OFFER, ADVERTISEMENT, OR AN OFFER OF SECURITIES TO MEMBERS OF THE PUBLIC WITHIN OR OUTSIDE THE TERRITORY OF THE RUSSIAN FEDERATION, OR A VOLUNTARY OR MANDATORY TENDER OFFER UNDER RUSSIAN LAW.
July 13, 2020
Tink acquires Swedish open banking platform technology provider Instantor from Altus Capital
July 13, 2020: international investment group Altus Capital sold its stake in Instantor, credit decision solutions provider, to leading open banking platform Tink.

The initial investment in Instantor was in line with Altus Capital strategy of direct investments in fast-growing and underestimated companies across European markets based on sector specific expertise which could provide clear exit opportunities within short-term horizon.The investment mandate of the group is primarily focused on FinTech due to significant technology shift in the industry, with annual investments exceeding $50+ billion and growing 15+% year over year.

Founded in 2010, Instantor was a perfect match for Altus Capital investment strategy where the group acquired a majority stake in 2019. The company is a developer of machine-learning-powered open API credit-risk management software trusted by over 200 Financial Institutions, integrated with over 250 banks globally and supports more than 5 million credit decisions annually.

Instantor provides banks, lenders and fintechs across Europe, Asia and South America with consumer bank data that helps them enhance their credit decisions by verifying an individual's identity (KYC), income and expenses, based on account aggregation technology.

The Company is headquartered in Stockholm (with 26 employees) and licensed under PSD2 as an Account Information Service Provider (AISP) in 13 European markets.

Instantor, which almost doubles its revenue every year since inception, directly benefits from the rise in adoption of open banking technology, its applications and services as well as supportive regulations in the space.

According to the report published by Allied Market Research, the global open banking market is expected to reach $43.15 billion by 2026, while Europe is estimated to witness the highest CAGR of 24% since 2019.

Altus Capital successful exit followed as a consequence of consolidation trends in European open banking landscape as well as strategically driven product fit. The Instantor team will become part of Tink, the most dominant player in the market which enables banks, fintechs and startups to develop data-driven financial services. Tink's API offers one access point to financial data from across Europe allowing its customers to aggregate financial data, initiate payments, enrich transactions and build personal finance management tools.

Instantor's credit decision solutions and technology can significantly expand Tink's current product offering in the space and strengthen its market leader position while Instantor's products, services and more than 150 live customers — consisting of banks, fintechs and lenders —will gradually be migrated to Tink's platform.

Sergey Vasiliev, Managing Director, Altus Capital, said: "Financial technologies in Europe is one of the strategic and most attractive markets for Altus Capital. In 2019, total investments in this sector reached 135.7 billion U.S. dollars globally. Altus Capital in 2019 launched its fintech investment platform, and now we are pleased to support a European market consolidation trend and help Tink to find additional synergies and enhance their operations. We believe that Instantor is an exceptional acquisition for Tink and will provide it with opportunity to develop and grow further".

About Altus Capital

Altus Capital (altusca.com) is an independent international investment and consulting group with more than $1 billion AUM and 5 offices across Europe focusing on direct investments in fast-growing and underestimated companies. Its investment strategy is characterized by high sector-wise diversification, clear exit strategy and investment horizon from 3 year to 5 years. The group has international investment mandate and primarily focus on European and CIS markets, although not limited with them.

SEPTEMBER 16, 2019
Altus Capital announces a new investment fund focusing on financial technology with its total volume of up to USD 100 million
Altus Capital, an independent investment group, announces the launch of AC Fintech Investments Fund. The new platform will have a bias towards the FinTech sector and related industries with a focus on European and global markets. Several investors and partners have already confirmed their readiness to cooperate. Furthermore, shareholders of Altus Capital also plan to invest their own money using the fund.

According to Altus Capital experts, the FinTech sector is one of the most promising global market segments having a well-timed development outlook.

Dmitry Klenov, Managing Partner, Altus Capital, highlights that a rapid boost of FinTech projects should be expected in the nearest term. "We see a brisk growth in this sector as new technologies and solutions emerge and overtake markets. In fact, it is safe to say that we are in for the FinTech revolution right now."

Dmitry Klenov adds that the factors driving investors to place high stakes on the FinTech, in particular, include value engineering for products and services through new technology implementation and their global outreach both in traditional banking and well beyond, namely in the mobile operators market, social networks and technology companies.

The value of the new fund will be up to USD 100 million. Altus Capital plans to finance a quarter of the fund's budget from their own resources. The rest of the budget will be raised from Russian and foreign external investors.

The fund has already prepared a list of priority projects that have been thoroughly worked through and are ready for completion. Altus Capital will further announce deals entered into by the fund.
OCTOBER 18, 2018
Altus Capital declares the appointment of a new investment director
Alexander Semenin was appointed as a new investment director of Altus Capital. Actuality of this position was dictated by ambitious plans for Altus Capital development in the private equity market. Mr. Semenin is responsible for executing M&A, LBO, MBO transactions. Along with the other priority – initiation and selection of transactions for private investment funds, attraction of share and debt financing, including fund raising for venture and infrastructure projects, Mr. Semenin will provide also consulting in business development strategies in different countries, including Russia, CIS countries and European Union.

Alexander held earlier a number of executive positions. Prior to joining Altus Capital Alexander held the position of Deputy Director of M&A department in Softline (one of Top 5 Russian IT companies) where he was responsible for M&A strategy development and implementation of M&A transactions.

Within the period from 2013 to 2016 he held the position of Vice President at NRG Private Equity where he was responsible for the issues of corporate investment appraisal, structuring investments, appraising assets, including highly structured products, and exit procedures. Within the period from 2011 to 2013 he was in the Investment Banking Department of Troika Dialog, a Russian investment company, and a private financial and industrial group.

Alexander Semenin comments: "Altus Capital is notorious for strong expertise in the field of M&A and structuring direct investments. I value highly professional behavior of my colleagues and am glad sincerely of the possibility to join a brilliant team of professionals, with whom we must implement a variety of most interesting projects".
DECEMBER 18, 2017
Altus Capital won SPEAR'S Russia Wealth Management Awards 2017
Altus Capital is granted Start of the year (2017) by SPEAR'S Awards. The winners of SPEAR'S Russia Wealth Management Awards 2017 were announced at the Awards Ceremony, which was held on 18 December 2017 at the Mossovet theatre in Moscow.

This year among the nominees there were such leaders of the financial industry as Alfa Bank, VTB24, Promsvyazbank, Sberbank, Friedrich Wilhelm Raiffeisen, UniCredit Bank, Goldman Sachs Private Wealth Management, Julius Baer, UBS Switzerland, well-known investment and consulting companies. Judging Panel of the award consisted of the most highly reputed and influential individuals both in the industry, as well as in society. SPEAR'S Russia Wealth Management Awards was monitored by PwC as the Independent Consultant.

About the Awards

SPEAR'S Russia magazine and PBWM.ru portal present SPEAR'S Russia Wealth Management Awards organized to celebrate the greatest achievements in private banking, wealth management and related industries. SPEAR'S Russia Wealth Management Awards is organized by tradition and analogy with the award ceremony annually held in London by SPEAR'S UK. SPEAR'S Russia is the Russian version of one of the most trustworthy and influential European (London, UK) magazine for the world's richest audience. PBWM.ru is Russia's first specialized private banking and wealth management online portal. Founder — PBWM Media. Creative and commercial management of the project is provided by MEDIACRAT.
NOVEMBER 10, 2017
Altus Capital Participated in the 9th Annual IBA Mergers and Acquisitions in Russia and CIS Conference
On 10 November 2017, the 9th Annual IBA Mergers and Acquisitions in Russia and CIS Conference was held in Moscow. The conference presented by the IBA Corporate and M&A Law Committee, supported by the IBA European Regional Forum. Mr. Sergey Vasiliev, Managing Director of Altus Capital, spoke at the session discussing the current trends and key issues on the private equity market.

Among other issues discussed, in his speech, Mr. Vasiliev referred to the changes in the investment capital sources for private equity, in particular the increase of volume and significance of quasi-state own equity (sovereign wealth funds, large public corporations and banks) and purely private (family offices, individual private investors) capital. In light of persisting geopolitical tension around Russian foreign policy, high volatility and low predictability of the market, institutional investors and development institutions remain subject to the expanding limitations preventing new investments from them on the Russian market. Further to the above tendencies, investment mandate of existing investors, who keep being interested in Russian market opportunities, gain additional flexibility through expansion of number of sectors, eligible for investments and perspective for consideration, extension of the investment horizon (a shorter minimum investment period and a longer maximum investment period), reduction of a minimum investment ticket (a reduced "average check" for investment) and readiness to consider an earlier stage project phase ("rejuvenation" of eligible projects).

Also, Mr. Sergey Vasiliev observes a growing demand from investors for investment manager to commit and participate in investments introduced by him with his own funds and co-invest alongside fund investors. That way investors want to get confirmation of the investment manager's confidence in the prospects of a proposed opportunity. Mr. Vasiliev also emphasized growing significance of clear investment exit strategy and growing interest in export-oriented projects aimed to mitigate currency risks.
AUGUST, 2017
Altus Capital acquired shares of «Elecsnet»
AUGUST 2017 — In 2017 Altus Capital acquired 49.78% of shares of «Elecsnet» being creator of Russia's first remote payment service, as well as the largest Russian network of payment terminals with extended functionality.

Altus Capital acquired equity stake from several international investment funds, having accumulated the largest minority stake in the company. The investment strategy of Altus Capital with respect to Elecsnet included creation of synergy with portfolio companies of the group and extension of programs of cooperation with banks in Russia and outside of its territory with due consideration of accumulated experience. Throughout the period of holding by Altus Capital of equity stake of Elecsnet the company set up and implemented joint pilot projects with European systems of remote opening of accounts, currency conversion and payments, extended cooperation with one of the largest banks in Russia and started development of new products for handling payments from mobile devices.

Upon acquisition of a minority stake of Elecsnet by Sibintech, one of the largest IT holdings in Russia possessing extensive expertise in working with enterprises of oil and gas, and public sectors, for the company opened up new opportunities for integration of its services into Sibintech federal network.

In connection with appearance of such strategic partner of Elecsnet as Sibintech it became possible for Altus Capital to ensure early exit. As of the date of transaction relating to LLC «Long-term Iinvestments» Altus Capital was interested in Elecsnet as an asset and its development on the basis of the opportunities ensured by Sibintech group, however by that time the prospects of such development and the timeframe for appearance of Sibintech were not clear. Upon acquisition by Sibintech of a minority stake of Elecsnet, Altus Capital sold its equity stake of LLC «Long-term Iinvestments» in this (2018) year, having ensured attractive profitability.
APRIL 14, 2017
Acting as an advisor in relation to acquisition of Galen composite construction materials producer
APRIL 14, 2017 — Altus Capital investment banking division acted as a buyer's business and legal advisor in relation to a successfully closed deal involving acquisition of a 100% stake in Galen, Russian composite construction materials producer, from GC «Osnova» and RUSNANO JSC. The parties do not disclose the deal amount.

Altus Capital coordinated the processes of preparation and structuring of the deal, and arranged and assisted in its signing and closing thereof.

Altus Capital team plans to continue cooperation with the new owner of Galen, perspective Russian composite construction materials production business, to ensure its further growth and development, as well as to expand the sales geography and establish sales channels for finished products both in Russia and abroad, and gradually transform Galen into an international company.

Galen is a Russian developer and manufacturer of modern composite materials from basalt plastic and fiberglass for industrial, civil and road construction, mining and power generation. Galen is the leader of the domestic market of basalt-plastic construction materials, and the largest exporter in this sector.
JANUARY, 2017
Altus Capital repurchases investment-banking subdivision of UFG Capital
JANUARY 2017 — UFG Capital entered into an agreement on selling investment-banking subdivision to Altus Capital. Licensed companies UFG WM Real Estate S.à.r.l. (Luxembourg) and UFG WM Investment Management Ltd. (Cyprus) continue the work under the brand name "UFG Capital".

Altus Capital is an independent investment company specializing in direct investments in fast-growing and underestimated companies. Its investment strategy is characterized by high diversification by sectors, clear exit strategy and medium-term investment horizon (from 1 to 5 years). The company is focused on projects from Russia and CIS countries, but does not limit the geography of investments.

UFG Capital is an international group of companies rendering services in the field of investment banking and asset management. The company was separated into a free-standing business focused on institutional clients within the framework of UFG Wealth Management. The investment-banking sector of the Group is engaged in consulting of clients on ensuring equity and debt financing, M&A and real estate transaction support, and helps to handle the tasks of any complexity related to capital structure and direct investments.

The founder of Altus Capital Dmitriy Klenov, formerly one of the partners of UFG Capital, intends to develop rapidly Altus Capital.

© Altus Capital. All rights reserved.
82 Akropoleos Avenue, 1st Floor,
2012 Akropolis, Nicosia, Cyprus

T
+357 22 107 242
2, Tsvetnoy blvd,
127051, Moscow, Russia

T +7 499 929 88 47
25A, Boulevard Royal
L-2449 Luxembourg

T +352 26 631 420
Cyprus
Russia
Luxembourg
Email