Baring Vostok Capital Partners (BVCP) notes a number of inaccurate reports that Michael Calvey is a beneficiary of Vostochny Bank and First Collection Bureau. This is incorrect and is creating public misunderstanding regarding the assets of Baring Vostok funds and the authority of Mr Calvey.
Baring Vostok founder Michael Calvey has never been a beneficial owner of a controlling stake of shares in PJSC Vostochny Express Bank, and has never been a beneficial owner of First Collectors Bureau, both of which are named in this case. Both of these companies are portfolio investments by Baring Vostok funds, and Michael Calvey has never directly or indirectly owned their shares. The beneficial owners of the stakes held by Baring Vostok in its portfolio companies are de facto investors in Baring Vostok funds; the vast majority of them are well-known international investors. We kindly ask the media not to use this inaccurate information, and to address all questions to BVCP’s official media representatives, EM, at firstname.lastname@example.org .