Millhouse Capital is a British registered company. It was created in 2001 to manage assets owned by the Russian businessman
Roman Abramovich
Roman Arkadyevich Abramovich (, ; he, רומן ארקדיביץ' אברמוביץ'; born 24 October 1966) is a Russian Russian oligarchs, oligarch and politician. He is the former owner of Chelsea F.C., Chelsea, a Premier League football club ...
and his partners.
Overview
The chairman of the company is Russian-American businessman
Eugene Shvidler
Evgeny Markovich Shvidler (russian: Евгений Маркович Швидлер; born 23 March 1964), also known as Eugene Shvidler, is a Soviet-born billionaire oil businessman. He made his fortune during the privatization of Russian indu ...
. Its assets under management included major stakes in oil company Sibneft (now
Gazprom Neft
Gazprom Neft (russian: Газпром Нефть; formerly Sibneft, russian: Сибнефть, link=no), is the third largest oil producer in Russia and ranked third according to refining throughput. It is a subsidiary of Gazprom, which owns about ...
), Russian Aluminum,
Aeroflot
PJSC AeroflotRussian Airlines (russian: ПАО "Аэрофло́т — Росси́йские авиали́нии", ), commonly known as Aeroflot ( or ; russian: Аэрофлот, , ), is the flag carrier and the largest airline of Russia. The ...
, and
RusPromAvto, as well as investments in electricity, pulp and paper processing, insurance and banking.
The company controls the
Prodo agricultural group, which it took over in 2003.
Holdings
Millhouse Capital's shareholders sold their 26 percent holding in
OAO Aeroflot in 2003 and a 50 percent stake in OAO Russian Aluminum (
UC RUSAL
United Company RUSAL, international public joint-stock company (russian: МКПАО «ОК РУСАЛ», MKPAO «ОК RUSAL») is the world's second largest aluminium company by primary production output (as of 2016). It was the largest until ov ...
), now the world's largest aluminum producer, in two deals spanning 2003 and 2004. The sale prices were not disclosed.
In October 2005, Millhouse Capital sold a 72% stake in Sibneft to
Gazprom
PJSC Gazprom ( rus, Газпром, , ɡɐzˈprom) is a Russian majority state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg. As of 2019, with sales over $120 billion, it was ranked as the larges ...
for more than US$13 billion.
Millhouse Capital was initially based at Abbey House in
Weybridge
Weybridge () is a town in the Borough of Elmbridge in Surrey, England, around southwest of central London. The settlement is recorded as ''Waigebrugge'' and ''Weibrugge'' in the 7th century and the name derives from a crossing point of the ...
, a large two storey office building on the edge of the St. George's Hill estate, before moving to
Stamford Bridge Stamford Bridge may refer to:
* Stamford Bridge, East Riding of Yorkshire, a village in England
** Battle of Stamford Bridge, 25 September 1066
* Stamford Bridge (bridge), a bridge in the village of Stamford Bridge
* Stamford Bridge (stadium), in L ...
following Abramovich's acquisition of
Chelsea Football Club
Chelsea Football Club is an English professional football club based in Fulham, West London. Founded in 1905, they play their home games at Stamford Bridge. The club competes in the Premier League, the top division of English football. The ...
in 2003. It had a larger representative office in Moscow.
In a reorganization following the sale of Sibneft, the Moscow office of Millhouse Capital was closed and a new company, Moscow-based Millhouse LLC, was formed in April 2006 to manage the assets of Abramovich and his partners. The London office of Millhouse Capital was closed in August 2008 and its functions rolled into a new firm, MHC (Services) Ltd.
References
{{UK-company-stub
Companies based in the London Borough of Hammersmith and Fulham
Financial services companies established in 2001
Roman Abramovich