UFG Private Equity's Fund III has completed acquisition of a large minority stake in Russian Towers from its co-investor Macquarie Russia & CIS Infrastructure Fund (MRIF). Amount and terms of transaction were not disclosed. Russian Towers is the leader of independent telecom infrastructure market in Russia, it owns and operates passive infrastructure and provides co-location solutions for mobile operators.

Through its previous Fund II, UFG was a founding investor in Russian Towers alongside the EBRD in 2009 and remains a significant shareholder. Since inception approximately $160m of equity capital has been raised to finance the Company’s development. UFG syndicated part of the funding required to complete the current acquisition of MRIF’s stake.