In December 2010, UFG Private Equity acquired a minority stake in Brunswick Rail, the largest privately owned provider of operating leases of freight railcars to corporate clients in Russia. Rail transportation plays an important role in the Russian economy, representing the only economically viable method of moving bulk commodities, such as coal, iron ore, and fertilizers, across large distances that separate Russian producers from their consumers, domestically and abroad. Growth of Russia’s economy and continuing demand for Russia’s resources from international customers, including those located in China, are expected to lead to steady increases in railroad freight turnover. Currently Brunswick has over 18,000 freight wagons and is expected to continue expanding its fleet in the future.

In March 2010, UFG Private Equity acquired a minority stake in Enforta. Enforta is one of the national telecommunication operators in Russia, providing a wide range of telecom solutions including “pre-WiMAX” and WiMAX technologies both to business customers and to the private sector within the fast growing Russian market. Enforta's services include Internet connection, telephony (VOIP, including local phone service), intra and inter city VPN as well as email service.

Founded in October 2003 by a group of telecommunication industry executives with the objective to provide top-notch broadband telecommunication solutions based upon wireless and other state-of-the-art technologies, Enforta today provides service to 88 cities of the Russian Federation.

Enforta is an active member of the Wireless Communications Association International (www.wcai.com), a consortium for thje development and promotion of IEEE 802.16 WiMAX standard. To receive any further information on Enforta, please refer to the corporate e-mail address: pr@enforta.com.

In December 2009, UFG and certain minorities and management acquired a 100% share in Rising Star Media (“RSM”) from National Amusements, Inc. RSM owned and operated multiplex cinema theaters in Moscow and St. Petersburg with 75 screens, which served a premium class, destination-style, market segment.

UFG and other RSM shareholders sold 100% of the company in June 2011 to a Russian strategic investor.

In December 2009, UFG acquired a stake in Russian Towers (“RT”), a new company that was established to provide passive infrastructure on a sharing basis to mobile and fixed wireless telecommunication operators. RT is the first independent dedicated telecommunication towers operator in Russia and the CIS.

In August 2009, UFG acquired a minority stake in Yandex.

Incorporated in 2000, today Yandex is Russia’s largest and most successful internet company focused on searches in the Russian language speaking markets.

In June 2011, the Fund sold part of its stake through the IPO but remains a shareholder in Yandex.

Bakar Group is a Russian sunflower oil producer and distributor founded in 1998. Bakar's production complex is located in the favorable geographic region of the South of Russia, with a proximity to fertile sunflower seed growing areas, and with a relatively easy access to export markets via the Black Sea ports.

The Fund exited its investment in Bakar through the trade sale in 2011.

BioSpark was founded in 2006 and is specialising in bioenergy technology (utilisation of wood and oil processing waste, production of wood pellets, production and sale of peat). The Company was sold to a strategic investor in November 2007.

Bridgetown Foods was established in 1999 and at the time of acquisition by UFG Private Equity was number three player in the savory snack market in Russia, Ukraine and Kazakhstan, trailing only Frito Lay and Sibirsky Bereg in terms of sales and market share. In August 2006, UFG acquired a blocking stake in the company.

In early 2008, UFG received a buyout proposal for Bridgetown from a regional confectionary producer and distributor at an attractive price, and UFG agreed to exit this investment in February 2008.

In April 2008, UFG Private Equity acquired a majority stake in Eurorent, a tower crane rental company that provides a full range of services related to crane operation, transportation, installation, dismantling and repair. In June 2010, the Fund concluded a partnership with the management of a peer market player, Novoco Rent, to which the former would contribute cranes and the latter – management expertise, an existing pipeline of new contracts at favorabe rates, and attractive financing terms for new equipment acquisition.

IPNet is a broadband internet provider based in Kiev. IPNet builds and operates high speed, last mile fibre-based networks that provide household access to the internet at speeds of up to 100 Mbps. This type of network can support true triple play services: high speed internet access, TV, and telephony.

IPNet operates a network servicing over 29,000 customers with more than 215,000 households covered in Kiev.
UFG owns a majority stake in the company.

In December 2005, UFG invested in Kuda.ru, a retail travel chain in Russia. Subsequently in 2006 Kuda.ru acquired a chain of franchise travel agents, Magazin Goryaschikh Putyevok (“MGP” or “Last Minute Tours” ). During the crisis of 2008-2009 Kuda.ru was restructured with MGP spun-off as a stand-alone business.

MGP operates as a franchise travel chain with 417 offices across Russia. MGP also has an active online portal. UFG owns a blocking stake in the company.

In the summer of 2006 UFG Private Equity acquired a stake in Nevo Tabak, a St. Petersburg-based tobacco producer of approximately 20 of Russia’s well-known cigarette brands. The company also had its own warehouses and own supply chain covering the entire country.

The Fund solds its stake through an MBO in June 2007.

In May 2006 UFG Private Equity acquired a controlling stake in "News Media" which published a weekly newspaper "Zhizn". Later in August "News Media" also launched a daily tabloid "Tvoi den". During the UFG's holding period the company substantially increased circulation, consumer and advertiser awareness of its publications, opened several regional offices and launched a succesful internet portal for tabloid news.

In January 2008, UFG sold its stake in the holding to a Russian strategic investor.

In August 2007 UFG Private Equity participated in a leveraged buy-out alongside a group of large international investors acquiring a minority stake in Russian Alcohol, one of the largest players in the Russian spirits industry with a portfolio of market leading brands and a strong distribution system in Russia.

The Fund sold its stake together with the company's other shareholders to an international strategic investor in December 2009.

In December 2005, UFG acquired a majority stake in SIGMA, a gold exploration and development business with licences in the Krasnoyarsk and Chita regions, as well as on the Kamchatka peninsula in Russia's Far East. During UFG's holding period the company started gold production in Kamchatka.

The Fund sold its stake in SIGMA to a Russian financial investor in March 2008.

In February 2006, UFG Private Equity acquired a blocking stake in Trans-Siberian Gold (“TSG”), which has a license for developing Asacha and Rodnikova gold deposits in Kamchatka. TSG commenced gold production in Asacha in September 2011.

TSG is listed on the London Stock Exchange’s Alternative Investment Market (AIM) under the ticker “TSG”.

Unifin is a Moscow-based commercial bank, which has a Baa3.ru national scale rating (NSR) by Moody’s Interfax Rating Agency and a B++ rating by Expert RA. The ratings reflect the bank’s conservative capitalization, cost efficiency and high quality of assets, comprised primarily of SME loans and high quality mortgages.

UFG owns a blocking stake in the company.

In November 2006, UFG Private Equity invested in Chudodom, a chain of homeware merchandise retail stores in Russia. In December 2008, UFG merged Chudodom with Yuterra, another regional retailer with a strong presence in Central Russia, under the joined Yuttera brand for the combined chain (remaining Chudodom stores are being re-branded). Currently the chain consists of 78 stores throughout Russia.

UFG holds a minority stake in the company.