Russia Detains Veteran U.S. Private Equity Investor

Michael Calvey, founder of private equity firm Baring Vostok Capital Partners and one of the longest-standing American investors in Russia, was detained in Moscow as part of a commercial dispute.

Calvey and three other employees are being held in relation to a case that revolves around Russian retail lender Vostochny Express Bank, where the American is board chairman and his fund a majority owner. A dispute had emerged between Calvey’s team and Vostochny shareholder Artem Avetisyan, who has ties to Russia’s security services, over control of the board and the bank itself.