| 14 March 2007 |
 
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Rutley Capital Partners LLP, the real estate private equity business of Knight Frank London, announced the formation of Rutley Russia Property Fund, a new investment fund for Russian commercial property.
RRPF has completed its first fund raise of approximately US$100 millions as a private placement and will invest the proceeds in office, retail, and industrial properties in Moscow, St. Petersburg and in larger Russian regional cities.
RRPF is managed by a newly formed asset management vehicle, formed as a joint venture between Rutley Capital Partners LLP, several partners of Knight Frank Russia, GVA Sawyer, and Duet Private Equity Limited.
Knight Frank Russia, one of the dominant commercial property agency businesses in Russia, has over 10 years’ experience in the Russian property market.
GVA Sawyer, based in Moscow, brings fourteen years of development experience in Russia and considerable analytical and administrative resources.
Duet Private Equity Limited is the private equity arm of the Duet Group, an alternative asset management group based in London, whose principals have significant emerging market and Russian investment experience.
Rutley Capital Partners already manages Rutley European Property Limited, a London- listed European property fund, and brings with it FSA-regulated reporting and financial management resources.
Rick Abbott, Deputy Chairman of Rutley Capital Partners commented:
“We are delighted to have completed our first fund raising and we intend to capitalise on our pipeline of opportunities without delay. We are tremendously excited about the blend of expertise and skills that RRPF enjoys and the strong investor base we have built. The fund has excellent prospects and we look forward to growing it over the coming years.”
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