Detroit Investments

Detroit Investments founded in 1992 specializes in direct investments in Russia and the CIS countries, the headquarters of fund is in New York. First of all DI enters the capital of the companies of the beer industry. In its portfolio breweries in Moscow, Vladivostok and the Belarusian Babruysk, the cognac plant in Moldova, the distribution companies in Russia and Kazakhstan, etc.

History

2011

In February, 2011 it became known that Detroit Investments (DI) completely left the capital of Asteros IT company, having sold the share block to the major shareholder of integrator Yury Byakov. The CEO of Detroit Investments Nicholas Henderson and the former vice president of integrator for finance Neil Vereshchagin who the other day left the post told CNews about it.

DI purchased 25% of Asteros in 2006 for $10 million, thus having estimated all company at $40 million according to Neil Verishchagin, the fund in parts sold the shares - Yury Byakov redeemed the first 7% in April, 2009, and the remained 17.5% in the fall of 2010.

"Cooperation with Detroit Investments fund was very productive for both parties. It is possible to tell that since 2007 active process of transformation of our company of the opaque player in investment and attractive business began, IFC became one of the shareholder of which, finally, (the structure of the World Bank of International Finance Corporation, owns 2.5% of stocks of the company), - Yury Byakov says CNews. - After three years of DI recorded that profit level which expected. In turn the decision on an exit of DI of the capital gave us the chance to simplify structure of shareholders that in the medium term to be ready to entry into the market of the loan capital". According to Neil Vereshchagin in many respects thanks to DI integrators received IFC as the shareholder which recommendation DI was important.

According to Nicholas Henderson, the fund also was satisfied with an investment in Asteros. "The horizon in 4 years - normal for financial investments, - he says. - For this term it is possible to receive results from change of the company to the best and to earn from rapid growth of cost".

Disclose transaction details in fund and Asterosa did not become. According to Neil Vereshchagin, profitability of investment (IRR, internal rate of return) for fund was above an average on the IT industry. At the same time he estimates mean value at the level of 25-27% a year.