Mikhail Fridman
Chairman and Co-founder @ Letterone
Mikhail Fridman is an international businessman and co-founder of LetterOne, the international investment business, headquartered in Luxembourg, with offices in London.L1 has over £25bn of capital deployed in long term investments in sectors of vital future importance: technology, energy, health and retail. The business is also supportingground-breaking work on future measures of GDP and is a leading supporter of entrepreneurship.Mikhail was born in 1964 into a Jewish family in Lvov, Ukraine. In 1980, he graduated from school in Lvov, where he won Olympiads in physics and mathematics. After graduating from university with a first class degree, he started work as an entrepreneur.Together with several partners he has both built and invested in hugely successful international businesses. These include: the X5 Retail Group, Dia and Holland & Barrett, with over 25,000 stores between them; Wintershall Dea, UPP and Plastic Energy, who are breaking new ground in energy transition and infrastructure; VEON and Turkcell in telecoms; and K2 Health Ventures, providing life sciences companies at the venture and growth stages with innovative financing solutions.Mikhail is the founder of the international jazz festival in Lvov, which is now one of Europe’s top 10 jazz festivals. He is an active supporter of Jewish initiatives worldwide, including co-founding the Genesis Prize, which is awarded annually in Jerusalem and has been dubbed the Jewish Nobel by Time magazine. He also co-founded the Genesis Philanthropy Group, which develops and enhances a sense of Jewish identity among Russian-speaking Jews worldwide.
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About Letterone
LetterOne is a privately owned Luxembourg-based global investment vehicle focused on utilizing its financial resources, management and investment expertise to make value-driven investments in the Energy and Technology sectors through its two main business units L1 Energy and LetterOne Technology. LetterOne’s liquidity is managed by LetterOneTreasury Services.As at 31 December 2013, LetterOne’s assets under management total $29bn (comprising $13,5bn in telecoms assets and circa $15,6bn in credit and equity securities, loan deposits and funds) and originate from the successful investment and operational track record of its founding shareholders including the sale of TNK-BP, a major Russian integrated oil and gas company.LetterOne targets large-scale investments (above $1bn) where it sees additional value generation. This may be through a combination of operational excellence, provision of additional capital and strategic input as well as special situations such as turnaround of distressed and underperforming assets.LetterOne expects to be an active participant at management and/or board level with focus on performance, strategy and business development.LetterOne does not have fixed investment time horizons. Investment returns will be generated through dividend income as well as capital gains from disposals.
Letterone Contacts
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Alexey Kuzmichev
Co-founder
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Andrei Kosogov
Co-founder
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Christopher R. Devereux
Partner
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German Khan
Co-founder
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Mikhail Fridman
Chairman and Co-founder
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