From Marylebone to Caribbean: wealth of Abramovich’s business partners revealed | Roman Abramovich

The lavish wealth of Roman Abramovich’s business partners can be revealed today, including offshore investments in a Caribbean island resort, plans to redevelop a Marylebone church and a vast array of property in the UK and beyond.

Documents seen by the Guardian detail the sprawling business empire controlled by the Russian billionaires Alexander Abramov and Aleksandr Frolov.

The business partners hold a combined 29% stake in the Russian steel and coking coal producer Evraz, alongside Abramovich. Although not directly under UK sanctions, Evraz is named in those against Abramovich and its shares are suspended. Neither Abramov nor Frolov have been the subject of sanctions in the UK, EU or US.

Abramov, a steel baron who founded Evraz and oversaw its listing on the London Stock Exchange in 2005, was awarded Russia’s Decoration For Beneficence in 2017. He was pictured with Vladimir Putin and the Russian defence minister, Sergei Shoigu, at the award ceremony.

West Caicos. The wealth of Roman Abramovich’s business partners includes offshore investments in a Caribbean island resort. Photograph: David Hinds/AP

Speaking in the House of Commons, the Labour MP Margaret Hodge named Abramov as one of a number of Russian billionaires, “who made their money only because they are close to the Kremlin, and they sustain their wealth only because they remained close to the Kremlin”.

Both men were also named on the “Putin List” of 210 prominent Russians released by the US Treasury in 2018. Abramov, Frolov and Evraz did not respond to requests for comment.

Alexander Abramov (left) receives a medal from Vladimir Putin at an awards ceremony in 2017.
Alexander Abramov (left) receives a medal from Vladimir Putin at an awards ceremony in 2017. Photograph: ITAR-Tass News Agency/Alamy

Announcing sanctions on Abramovich, the government has said it believes Evraz may make steel for the Russian military, including for tanks. The company has denied this, saying it only supplies steel

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SCOR Expense Partners expands its sustainable investment

 

 

SCOR Investment decision Associates expands its sustainable financial commitment offering, launching
an environmentally and socially targeted senior infrastructure personal debt fund

 

 

SCOR Expenditure Associates announces the start of SCOR Infrastructure Loans IV, the fourth vintage of its senior secured infrastructure financial debt methods, in line with its motivation to staying a sustainable trader and positively impacting the real economic climate.

 

Labeled as Report 9 under the EU Sustainable Finance Disclosure Regulation (SFDR) and granted the LuxFLAG Surroundings Applicant label position, the fund will invest in tasks with a optimistic environmental or social contribution. SCOR Expenditure Partners’ infrastructure workforce has been embedding sustainability into its strategies since 2013 and 100% of its senior financial debt investments are directed to ESG beneficial property.

 

SCOR Infrastructure Loans IV, obtainable to institutional buyers, has secured an investment determination of EUR 150 million from SCOR, the company’s anchor trader, and has a concentrate on fund measurement of between EUR 750 million and EUR 1 billion.

 

SCOR Infrastructure Loans IV has now invested in five diversified infrastructure assignments in fiber networks, details facilities, and the transportation sector for a put together worth near to EUR 100 million. These original investments, blended with a prosperous upcoming pipeline of alternatives, give investors in the fund with a quick ramp up period of time.

 

With EUR 1.6 billion of investments completed throughout 57 infrastructure financial debt transactions because 2013, SCOR Expenditure Partners’ infrastructure staff, led by Paola Basentini, has been a pioneer in offshore wind, fiber networks, and sustainable datacenters investing. The group focuses on setting up effectively-diversified portfolios built all over the key drivers in the infrastructure market in Europe, namely tasks relating to the energy changeover and the digitalization of the overall economy.

 

 

Fabrice Rossary, CEO of SCOR Expense Associates, commented:

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