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By Shanu SHERWANI, private equity analyst*
Asset managers and institutional investors have been quick to announce their divestment from Russia in response to the country’s invasion of Ukraine - some to comply with ESG standards, others to avoid sanctions. However, the war’s direct impact on private markets appears to be modest thus far, primarily because many international private equity (PE) firms abandoned Russia years ago, and those that remain have minimal exposure. Their appetite for investing in Russia has been limited over the past decades.
The Russian economy has faced numerous challenges, including terms-of-trade shocks, FX volatility, heavily regulated industries, and previous sanctions. Nevertheless, the expansion of a...
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