Russian bank Sberbank and Abu Dhabi-based asset manager Invest AD have agreed to share clients, legal support and market research as part of a partnership deal signed in Moscow.
The firms aim to introduce their clients to opportunities in capital markets, private equity and trade finance in their respective geographies.
Sberbank is the largest bank in Russia and is majority owned by the state. It recently merged its asset management division with that of Troika Dialog, an investment bank it bought last year.
Invest AD specialises in Middle East and North Africa investment and in July this year it made two funds – one that invests in Africa and one aimed at the Gulf - available in Luxembourg-domiciled Ucits form.
Sberbank and Invest AD began their cooperation in 2009 when they jointly invested in a ski resort in the Krasnaya Polyana region of Russia that will host the 2014 Winter Olympics.
©2012 funds europe