Bakers, CC, White & Case launch Kazakhstan fund

Baker & McKenzie, Clifford Chance and White & Case have advised on the creation of a e100m (£90.6m) private equity fund on behalf of Kazakhstan’s sovereign wealth fund.

The Kazakhstan Growth Fund will use money from the European Bank for Reconstruction and Development (EBRD) and Samruk-Kazyna, the sovereign wealth fund, to invest in the country’s development.

James Burdett, London funds head at Baker & McKenzie, and Almaty financial services partner Curtis Masters headed the team representing Samruk-Kazyna.

Kazyna Capital Management, the main investor alongside the EBRD, turned to Clifford Chance funds partner Nick Benson.

The EBRD was advised by White & Case partner Gregory Hammond.
“The success of the Kazakhstan Growth Fund will be vital in the government’s plans for the stabilisation of the economy during the worldwide financial crisis,” said Masters.

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