Pamplona Capital Management announced this week that it has begun the process of redeeming its LP interests from LetterOne Holdings, the investment firm co-founded by Russian oligarch Mikhail Fridman.
Officials at the London-based specialist Pamplona said although they had received clear guidance that LetterOne is not a sanctioned entity, the ongoing crisis in Ukraine “makes such relationships increasingly challenging for our portfolio companies, their management teams, customers, employees and counterparties throughout Europe and the rest of the world.”
A spokesperson declined to disclose how much Pamplona had invested with LetterOne.
“Following . . .