Actually thanks to banking ties Budkina graduate of Mechanics and Mathematics Faculty of the University of Kiev, appeared and its current business. Before the crisis FinPoint Investment Advisers specialized in mergers and acquisitions in the banking sector. Budkin advised the Austrian Raiffeisen group in the sale of a subsidiary bank in Ukraine, and later with the purchase of Russian Impexbank. In 2006, with the assistance of FinPoint Investment Advisers domestic owners Orgresbank headed by the Chairman of the Board Igor Kogan sold almost 75.01% of the shares of Scandinavian Nordea Group for more than $ 300 million.
Budkina new project - a private equity fund with the working title FinPoint Distressed Investments, which is now registered. Its strategy can be summarized in three words - the purchase of distressed companies. In addition Budkina in FinPoint Distressed Investments six Russian partner, Igor Kogan enters the Investment Committee Foundation, the volume of which in the beginning of October was $ 180 ppm Despite the crisis, problems with finding investors did not have, on the contrary, the current partners do not know where to invest. "I used to help these people zarabotatmnogo money, and now I help them to increase," - says Budkin. For fund investors can join, having a sum of not less than $ 5 ppm
Fund FinPoint Distressed Investments - one of the first attempts to cash in on the market problem assets in Russia. The desire to invest in these companies publicly announced unless the Czech PPF Group, and existing private equity funds, as a rule, can not buy shares of troubled companies. Managing Partner of New Russia Growth Alexey Panferov, for example, it regrets that the investment declaration of the fund does not allow it to take advantage of an opportune moment. "Now everything is so cheap that if the right things you can expect more than 40% per annum", - said Panferov.
The objects of the fund`s investments are exclusively Russian companies. A new business requires an immediate response, and at the team of analysts FinPoint not too much time to evaluate proposals. Week spent on the study of the company`s business, a few days to make a decision, another two weeks on the paperwork - and the deal can be concluded.
For example, in August - September Budkin and analysts familiar with the 30 projects. Ten of them were studied in detail. In early October, at the stage of signing contracts were buying stakes in three companies: the business center in Moscow, an Internet provider in Central Russia, as well as companies producing chemicals used in drilling oil industry. This Volga company has signed contracts with "Lukoil" and "Rosneft", but because of the crisis, oil companies slashed investment and have ceased purchasing agents. Meanwhile, the company has to repay the loan at $ 20 ppm FinPoint in exchange for a 55% stake in the company can take on the obligations of the loan.
Schemes FinPoint investments in distressed companies can be different: the purchase of the shares, the redemption of the debt with its subsequent conversion into shares, the acquisition of real estate owned by the company and TD is better when there are share and management. "We buy a business that needs to be treated, - Budkin explains. - And make it healthy only for wages, not every manager is able to. " "Sometimes entry into the capital is really the only civilized way to structure the debts and help the business", - says Alexei Gorenkin, deputy director of the company "Polyplast", which at the last moment managed to normalize relations with creditors.
Budkina have extensive experience of crisis management. Since 1993, he worked at Deloitte & Touche in Ukraine, then led by the private sector arm of the local representation of Bank Austria. In 2003, he left the bank and created FinPoint. Bankers familiar with Budkin in his previous work, is now providing services to him, recommending its customers to contact the FinPoint.
FinPoint Distressed Investments Partners expect to yield at least 35% per annum. As with any private equity fund completion of the project - the sale of shares to a strategic investor or management or IPO. Budkin believes that the crisis has provided an excellent opportunity to make money, would be money. "If you are saving people, you are doing it is not free," - he says.
Four years later Budkina daughter should go to school, this time he is going to put together a sufficient capital to settle in Sydney, in a house on the ocean. "In Russia, I am in a long trip to make money," - said the financier. Well, most likely, such opportunities as it is now, will not be in Russia in four years. Memory investors short.