Russian Railways and Son: how Andrey Yakunin's business was built up

Over 12 years of Vladimir Yakunin's work in Russian Railways, his son Andrey has become a major employer: his VIY Management fund manages assets worth $400 million. RBC recalls which of VIYM projects can be linked to Russian Railways.
19.08.2015
RBC
Origin source
Hotels at railway stations

"Official" Yakunin businessman in the family - the eldest son of the president of Russian Railways Andrey. He was born in 1975, in 1997 he graduated from the Faculty of Economics, St. Petersburg State University, then received an MBA from the London Business School. PhD thesis Yakunin Jr. was dedicated to the hospitality industry. That he was engaged in this business and in St. Petersburg in the early 2000s.

In the first half of the 2000s Andrey Yakunin was Executive Director (and according to the newspaper "Business Petersburg" - and co-owner) Hotel "Baltic". In 2006, the hotel with a water park "Waterville" on Vasilyevsky Island were sold for $ 100 million in the Norwegian company Wenaasgruppen AS. Seller, according to "Business Petersburg", delivered offshore "Chong Holdings Limited". The name, according to the "DP", to coincide with the first legal person Fund Venture Investment and Yield Management (VIYM), established by Andrey Yakunin together with the investor Yair Ziv in the same 2006.

According to the official website VIYM, partners fund Andrey Yakunin and Yair Ziv remainNow. The scope of the fund for ten years has expanded. Assets under VIYM its control on the site is estimated at $ 400 million raised for projects loans -. To $ 600 million in the portfolio VIYM projects on the website of the Fund has investments in the agribusiness (agricultural holding "Agro-Alliance", an investment project is completed), in manufacture of paper ( "Syktyvkar Tissue Group" takes the third place in Russia for the production of toilet paper, according to the website VIYM) in gold mining (the company "Golden League", which owns the license for the deposit in the Khabarovsk region with reserves of 7.1 tons) and the production of chocolate and confectionery products handmade (company French Kiss with 19 boutiques in Moscow). But the basic assets from VIYM still in the hotel business - the fund has stakes in the first St. Petersburg hotel brand Four Seasons, opened in a renovated historic mansion Lobanov-Rostovsky in the city center, three hotels in Europe (Vienna, Davos and Italian Umbria ), as well as the company "Regional hotel chain" (CSG). Last, as stated on the website VIYM, is developing the project "to create Russia's largest regitional hotel chain mid-market, providing services for leading international brands. "

Business CSG closely linked to the "Russian Railways", Reuters news agency wrote in its investigation in 2012. In 2009, Yakunin framework agreement with Rezidor now a joint project to build a hotel network in the Russian regions. The volume of investments should reach $ 500 million, the network was to include 20 hotels. Premises for most of the hotel, located near the central city station, CSG has found a subsidiary of Railways - "Zheldoripoteka", which was created for the construction and distribution of property among employees of Russian Railways.

The fact that cooperation with "Zheldoripoteka" Reuters confirmed himself Andrew Yakunin. It is thus stipulated that no conflict of interest related to the place of work of his father, no, although it admitted in an interview to Reuters that "understands the concerns about the possible benefits of receiving them." "I do not get them [RZD] money, I pay them," - said Yakunin Jr. agency.

Friendly soinvesop

I invest in the construction of hotels including "RWM Capital" fund, created in the structures Railways and control of the former state monopoly of non-core assets. One of the shareholders of "RWM Capital" - NPF "Welfare" service retirement accounts Railways. Detailed terms of the deals were not disclosed.

The site "RWM Capital," stated that in 2011, control over CJSC "IG" Rosvagonmash ", the main shareholder of UK" RWM Capital ", moved on to the company's management. This is the board chairman of investment group Sergey Orlov, occupying parallel position Yakunin advisor. Orlov Andrey Yakunin worked with in the early 2000s, when advising on legal issues management of the hotel "Baltic", and later was a member of its board of directors, told Orlov himself, "Vedomosti" in 2013. And after the sale of "Baltic" and base VIYM Orlov went to work there. Forbes magazine wrote, citing a friend of Vladimir Yakunin, that the Eagles have to head Railways nephew wife Natalia (Orlov is ncommented). That "RWM capital" invested in projects the son of the head of state monopoly, Eagles in an interview with "Vedomosti" did not deny, but pointed out that the fund was formed long before his arrival.

By the present moment, according to the official CWG site, the company opened 9 hotels in Russian regional centers. 7 of them operate under the Park Inn brand and one - under the brands of Marriott and Holiday Inn.

On Monday, it was found out that the head of Russian Railways Vladimir Yakunin became a candidate for senator from the Kaliningrad region. The heads of state-owned companies in Russia do not change often, but not the former head of "Transneft" Simeon Weinstock, nor the ex-president of "Rosneft" Sergey Bogdanchikov, nor led "Gazprom" Vyakhirev not become senators. Until recently, the upper house was a refuge for the largest Russian businessmen. But many of them left her after the adoption of the 2013 law banning state officials and parliamentarians to hold accounts abroad. The only dollar billionaire list of Forbes in the Senate was the representative of Dagestan Suleiman Kerimov.

Logistics operator
Another business Andrey Yakunin, connected with "Russian Railways", - the company Far East Land Bridge, Reuters wrote in his investigation of 2012. This has created a transport company with a subsidiary of Russian Railways "TransContainer" joint venture, which was to specialize in the transport of goods by land route between Europe and Asia. Subsequently, "TransContainer" sold his stake in the company "Russian Railways Logistics".

Sam Andrey Yakunin said to Reuters that "absolutely has no relation" to FELB, but the agency notes that one of the logistics operator sites was registered in the name of the partner Yakunin Jr. Yair Ziv, and the documents showed that the registered in Cyprus structure used the same Secretary the same address as that of several other portfolio companies VIYM.

Now Andrey Yakunin, told how his father in an interview with "Gazete.ru" in 2014, lives in London. "My oldest son lives abroad. He lives for a long time. He left St Petersburg in not the most benevolent times. I have already spoken on this subject. When he came in and said that this decision was made, heuzhno is at work in his investment activities, I have no joy on this occasion did not feel, "- said the president of Russian Railways.