Mubadala Development Company, the Abu Dhabi-based sovereign wealth fund, is investing $100m with the Russian hedge fund Verno Capital.
The deal is being touted as the first time a heavyweight Gulf-based investor has taken the leap to invest in Russia.
Verno was founded by Dimitri Kryukov and a senior team who all previously worked at Kazimir Partners. Before establishing Verno about a year ago, Kryukov and his Kazimir colleagues delivered annualized returns to investors of 30% from inception in 2002 to 2008.
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