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Pamplona Seeks Help From Jefferies, Apollo to Cut Oligarch Ties

  • Private equity firm held exploratory talks in recent weeks
  • Pamplona is seeking to distance itself from its biggest backer
Bank of Russia Rolls Out Emergency Measures as Ruble Dives
Photographer: Andrey Rudakov/Bloomberg

Private equity firm Pamplona Capital Management tapped investment bank Jefferies Financial Group Inc. for help cutting ties with its Russian oligarch backers, said people familiar with the matter. 

Pamplona has also held preliminary talks with at least one firm, Apollo Global Management Inc., some of the people said, as it explores ways to free up cash and replace its biggest source of funding: investment conglomerate LetterOne Holdings SA.