Frank Media: Andrey Shemetov may buy out a controlling stake in ITI Capital

Ex-head of SberCIB and former senior vice president of Sberbank Andrey Shemetov may buy a controlling stake in the Russian broker ITI Capital from the Da Vinci Capital investment fund, the publication reported Frank Media with reference to sources. Three interlocutors of the publication claim that the deal has already taken place, two more that it is at the stage of negotiations.

According to the publication, Da Vinci decided to exit the business in Russia, concentrated in Fund II (which includes ITI Capital), as foreign investors believe that after the start of military operations in Ukraine, the company should stop working in the country. Some sources of the publication also believe that the sale of Russian assets is connected with the problems of the current owner.

Frank Media sources differ. Three interlocutors said that the deal had already been closed. According to them, Andrey Shemetov bought the entire package or “a significant share” from Da Vinci. Two sources say negotiations are still ongoing. “The deal has been discussed for many weeks. The probability of her conclusion is 50 to 50, ”said one of the interlocutors of the publication.

Andrey Shemetov left Sberbank in May 2022. The press service reported that he decided to take up his own projects.

ITI Capital was founded in 2020. According to the company’s financial statements for 2021, its total assets amounted to 8.2 billion rubles, balance sheet capital – 1.3 billion rubles, equity capital – 684 million rubles. The company has a license for brokerage, dealer and depository activities.

Olesya Pavlenko