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Pamplona Capital defines path for terminating LetterOne’s LP participation

Pamplona Capital Management (Pamplona) has now defined the path for terminating LetterOne’s participation as a limited partner investor in funds managed by Pamplona.

Pamplona has taken the decision to liquidate every fund where LetterOne – its only Russia-linked investor – has any interest. The formal wind down process on three funds was confirmed and board approved on Monday, 14 March 2022. Such a process is irrevocable, and will be conducted in accordance with all legal and regulatory mandates as required.
The transfer of limited partner interest on the first portfolio company has been approved today and will be effected tomorrow.
The wind-down can be effected by different mechanisms, including the sale of LP interests to third parties (a “secondary sale”), as well as through the sale of direct investments.

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