The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Russia’s hedge fund opposition

As president Vladimir Putin enters his third term, one of the main critics of the political and corruption risks in Russia is Bill Browder, chief executive of London hedge fund Hermitage Capital.

The US Senate’s backing this summer for the so-called Magnitsky Law is forcing more investors to listen to Browder’s ultra-critical view of the Russian state system. So what kind of change in Russia would Browder advocate? 

The law is an important precedent for US relations with other countries too; Browder is a rare example of a hedge fund manager turned human rights advocate. His grandfather was leader of the US communist party in the 1930s.

After lobbying by Browder, the US Senate foreign relations committee approved a law to invalidate the US visas and freeze the assets of 60 Russia citizens accused of human rights violations. Browder says these people were involved in the 2008 death in custody of Sergei Magnitsky, a lawyer investigating an alleged tax fraud involving supposedly forged Hermitage documents.

Within Russia, however, the Magnitsky Bill gives weight to Browder’s grim depictions of doing business under Putin. "Russia is not an investible country," says Browder in his office in London’s Mayfair.

Until he was unexpectedly refused entry to Russia on arrival in 2005, Hermitage was one of Russia’s biggest foreign portfolio investors. Browder was one of the Russian government’s greatest advocates.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree