Russia’s Altera Investment Fund buys stake in industrial firm

Russia’s Altera Investment Fund has bought a share in Russian Machines Corporation. Its managing partner, Kirill Androsov, has been appointed to the company’s board of directors.

The Sicav fund has bought 7.5% in the Russian company, which is currently preparing to enter the international capital markets through a potential IPO issue.

The firm belongs to Basic Element, one of Russia’s largest diversified industrial groups. The group is controlled by Oleg Deripaska, one of the most prominent ultra high net worth individuals in Russia.

Altera Investment Fund will help Russian Machines Corporation to create a new strategy, develop its corporate governance system and optimise its organisational structure in line with international best practice and investor expectations.

The firm’s goal is to actively expand its investor base with the help of the new strategic partner.

The firm had a successful year last year, with 27% annual revenue growth.

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