June 28 (Bloomberg) -- Blackstone Group LP named Dmitry Kushaev a senior adviser in Russia, as the world’s largest private-equity firm pushes into emerging markets, two people familiar with the matter said.
Kushaev, a former managing partner of Moscow-based Marshall Capital Partners, will assist Blackstone as it decides how to invest in Russia, said the people, who asked not to be identified because there hasn’t been a public announcement.
Blackstone, based in New York, may invest in a new $10 billion fund promoted by Russian President Dmitry Medvedev, Chairman and Chief Executive Officer Stephen Schwarzman said in an interview on June 17 at the St. Petersburg International Economic Forum. Blackstone has yet to invest in Russia.
Blackstone declined to comment. Kushaev didn’t immediately respond to an e-mail message seeking comment.
Medvedev is setting up the fund to attract foreign investment and diversify Russia’s economy, which is dependent on oil, gas and metal exports. Representatives from Blackstone, Goldman Sachs Group Inc., Abu Dhabi Investment Authority, and others from the U.S., Europe, Asia and the Middle East, came to Russia to discuss the fund in May.
Rival TPG Capital, the only global private-equity firm with a presence in Russia, has invested with VTB Capital, the investment-banking arm of Russia’s second-biggest lender, in a local supermarket chain, Lenta.
Blackstone, created in 1985 by Schwarzman and Peter G. Peterson, has offices in 21 cities around the world, including Dubai and Mumbai.
--With assistance from Jason Corcoran in Moscow. Editors: Steven Crabill, Josh Friedman
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