People

Partners

Heads of practice and practice partners.

Bogdan Kurtasov

Director, Private Equity

MBA · University of Leeds · Rostov Academy of Economics

A banking graduate and holder of an MBA from the University of Leeds. More than 20 years in investment banking: JPMorgan, Moody’s, the EBRD, Raiffeisen and EY. Involved in over 500 transactions across sectors and financed more than 70 projects in 15 countries totalling over $5bn. Board member of Polupritsep.RF.

Private equityJPMorgan · EBRD500+ transactions15 countries

Max Lighter

Partner · M&A and Family Office

Theoretical mathematician · MBA in finance

36 years of experience, including 30 years in C-level positions across investment banking and family office management. Ran the family office of a Forbes-listed billionaire for more than 12 years. Has executed and advised on over 50 projects across M&A, development and fundraising. Former General Director of the XT exchange for MENA and the CIS.

Family officeM&AInvestment banking30 years C-level

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Elena Danilova

Partner · M&A

MPA · Moscow State University · HSE · MGIMO

Business mediator and China specialist. Since 2023 has supported sell-side M&A mandates with an aggregate value above $1.5bn in energy, agribusiness and industrials. More than seven years in analysis at the Ministry of Finance and the Ministry of Economic Development: financial models, international projects and oil and gas calculations. Specialises in Chinese management approaches.

M&A sell-sideMediationChinese marketsEnergy · agribusiness

Maxim Kozlov

Partner · Argentina and Latin America

electrophysics engineer · PhD in engineering

More than 20 years in the power sector: ABB, RAO UES of Russia and Inter RAO — electricity export, major investment projects and power plant construction in Latin America. Former chairman of the board of ENNOVA. Based in Argentina, developing a business network and sourcing investment projects.

Power sectorLatAmABB · Inter RAOInvestment projects

Institutional involvement

Partners and shareholders of the firm sit on these bodies. The organisations are named here; the individuals are introduced in person.

The General Council of Delovaya Rossiya
The Public Council at the Russian Ministry of Economic Development
The Council on the Digital Economy of the Russian Chamber of Commerce and Industry
The Harvard Club of Russia
The Council for the Development of Foreign Trade

Membership of these bodies gives access to the sector agenda and to the people who decide on foreign economic activity. For a transaction it means a shorter route to the right buyer, and a clearer view of how a client's situation looks from the regulator's side.

Transactions team

The people who run a specific transaction from the first meeting to closing.

Natalia Kirsanova

Director of Finance

Samara Academy of Economics · Plekhanov University

Consultant to the Small Business Support Fund of the European Bank for Reconstruction and Development. Senior positions in Russian banks in business lending. Director of finance at the Council for the Development of Foreign Trade. Responsible in transactions for the relationship with the owner and negotiation, assessment of the asset's financial condition and bank and project financing. Full biography →

Bank financingNegotiationDevelopment institutions

Kseniia Firsova

Director, partner relations

Lomonosov Moscow State University

Responsible for relationships with the practice's partners — lawyers, auditors, tax advisers, bankers and commercial property brokers — for the intake and review of enquiries and for the register of partner referrals. Handles the partner agreement and the registration that precedes any introduction, and replies within 48 hours. For partners and advisors →

Partner networkReview of enquiriesAnswer within 48 hours

Presence

Offices in six countries.

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Moscow

24 Krasnaya Presnya

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Dubai

UAE · Business Bay

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Bahrain

Manama

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Mauritius

Port Louis

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Bali

Indonesia

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Miami

Florida, USA

Who works on a transaction

You deal with one person. The work is done by specialists assembled for the sector and the task.

Transaction director

Manages the client relationship, accountable for the result and the timetable. The single point of contact.

Financial analyst

Earnings normalisation, net debt and working capital, financial model, scenarios.

Valuer

Independent valuation, substantiation of value, the bridge from enterprise value to equity value.

Transaction counsel

Title, encumbrances, ownership structure, the agreement and closing conditions.

Tax adviser

Consequences of the structure, risks, the tax structure of the transaction.

Quality control

Checks that figures reconcile across documents and that each has a source. Entitled to return work to any participant.

The team on a specific project is disclosed when the mandate is discussed — with names and evidence of qualification. For each asset we bring in someone who has done something comparable before.

Standards

Direct contact

The client works with a named specialist: the conversation is with the person who runs the transaction.

International reach

The partners' experience in energy, investment banking and trade gives a view of markets beyond a single country.

Accountability

We take on what we are prepared to carry through to a result. The level of risk is set by the client.

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