Electric power production
On 3 November 2016 the Board of Directors of Kazyna Capital Management JSC resolved to select Verno PE Ltd as the manager for the Fund. On 17 February 2017 the appropriate legal documents were signed thereby the size of the Fund was increased up to USD 105 mln. (USD 5 mln. of commitments were assumed by Verno).
Verno is a joint venture of Mubadala and Verno Holdings Ltd. which own 25% and 75%, respectively. Verno also provides advisory services to Mubadala under a $ 6 bln. co-investment agreement between Mubadala and Russian Private Equity Fund in the Russian Federation.
Investment period of the Fund is 5 years with extension option until 4 December 2020. Life term is 10 years with extension option until 4 December 2024.
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