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Russian Direct Investment chief ready to vouch for detained Baring Vostok founder

Kirill Dmitriev believes that Michael Calvey "did a lot for attracting foreign investment in Russia and helped many Russian companies to grow and mature"

Chief Executive Officer of the Russian Direct Investment Fund Kirill Dmitriev Alexei Nikolsky/Russian Presidential Press and Information Office/TASS

Chief Executive Officer of the Russian Direct Investment Fund Kirill Dmitriev

© Alexei Nikolsky/Russian Presidential Press and Information Office/TASS

MUNICH, February 15. /TASS/. Chief Executive Officer of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev is ready to personally vouch for Michael Calvey, the founder and the managing partner of Baring Vostok private equity firm, who was detained in Moscow earlier today.

"It is very difficult to comment on the situation around Michael Calvey’s detention not knowing the details of the charges. However, here at the Russian Direct Investment Fund we know Michael Calvey and the team of Baring Vostok as highly professional investors, committed to the highest ethical standards accepted in the investment community," Dmitriev told reporters on the sidelines of the Munich Security Conference.

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"I am ready to provide personal guarantees for Michael Calvey and believe that he did a lot for attracting foreign investment in Russia and helped many Russian companies to grow and mature," he added.

Earlier on Friday, the fund reported that four employees of Baring Vostok, including Calvey, were detained as part of a dispute over Vostochny Express Bank.

Baring Vostok is one of the largest private equity firms focusing on Russia and the CIS with a capital of $3.7 bln. 0vnk.

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