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Conference Agenda 2025
This year’s program features presentations, panel discussions, practical case studies, and thematic research covering all key trends in the private equity and venture capital markets.
Participants will gain actionable insights and expert guidance essential for navigating a rapidly evolving investment landscape.
09:00 – 09:30
09:00 – 09:30
Registration & Morning Coffee
9:30– 9:55
9:30– 9:55
2025 Deal Diagnostics: What Closed, What Collapsed — and Why
Fuad Aliyev, Director, M&A Practice,
B1
  • Case review: exits, secondary sales, state interventions
  • Investor profile transformation: who was buying and why
  • Structures that failed under market pressure
9:55 – 10:40
9:55 – 10:40
M&A in 2026 - An Era of Adaptation, Consolidation & Risk
Valery Zolotukhin, Founder,
IMPACT Capital Investment Company

Alexey Kupriyanov, Director,
Aspring Capital
  • Transactions as a tool for adaptation, not just scale
  • Consolidation, redomiciliation, and "block" sectoral deals
  • Ownership structures: opacity, indirect chains, closed-end mutual funds
  • Distressed assets as drivers of the next M&A cycle
10:40 – 11:00
10:40 – 11:00
Amended Requirements for Transactions Involving Foreign Assets
Yuriy Nikolaev, Founder & Managing Partner,
«Nikolaev & Partners» Bar Association
  • New requirements for transactions involving foreign assets
  • Risks of deal invalidation and interim administration
  • What could change post-election and amid geopolitical shifts
11:00 – 11:20
11:00 – 11:20
Managing Costs of Acquiring a Mature Business in the Banking Sector
Konstantin Karichev, Managing Partner, Attorney-at-Law,
GRM
11:30 – 12:00
11:30 – 12:00
Coffee & Networking Break
12:00 – 14:00
12:00 – 14:00
Panel Discussion: What Investors Want & How Deals Are Now Structured
Moderator:
Evgeny Borisov, Co-Founder, Partner,
«Kama Flow» Investment Company

Speakers:
Sergey Amiryan, Managing Director,
«Voskhod» Venture Fund

Yaroslav Markov, Deputy CEO for Investment Activities,
Osnova Capital

Arman Gabrielyan, Head of Direct and Venture Investments,
VEB.RF

Pavel Salugin, Executive Vice President,
Gazprombank

Dmitry Reitman, Head of the X.Technologies Business Cluster,
Rostelecom

Maxim Kravchenko, Managing Partner,
Proxima Capital

Alexey Schastlivov, Head of Direct Investment Business,
VIM Investments

Nikolay Makarov, Head of Private Equity,
First Asset Management Company

Mikhail Dubnov, Partner,
Brio Capital
  • Who’s still in the game: transformation of private and corporate investors
  • Where is the value? Distressed assets, logistics, IT infrastructure, regional plays
  • Why multiples remain low and deals stay complex
  • The return of earn-outs as a new standard
  • Framework agreements, options, three-stage settlements
  • Payment deferrals, hybrid formulas, and staggered consideration
  • Bridging the valuation gap between buyer and seller
  • When price is no longer the key: evolving logic of DD and asset valuation
14:00 – 15:00
14:00 – 15:00
Lunch & Networking
15:00 – 16:40
15:00 – 16:40
Cases Studies and Practical Insights

15:00 – 15:20
15:00 – 15:20
Structuring Multi-Stage M&A Transactions: How Not to Lose Your Company for Half Its Value
Ekaterina Zakharova, Partner
ASB Consulting Group
15:20 – 15:40
15:20 – 15:40
Business Case
Sergey Gaivoronsky, Investment Director,
«Kama Flow» Investment Company
15:40 – 16:00
15:40 – 16:00
Key Structuring Tools for Cash-in and Cash-out Transactions: Legal Issues Businesses Need to Know
Valerian Mamageishvili, Senior Associate,
KKMP.Legal
  • Valuation gap and ways to bridge it: cash-in transactions, put options with minimum return, call options with future valuation fixation, and earn-out mechanisms.
  • Structuring cash-in transactions: use of quasi-corporate agreements and the associated risks for the investor.
  • Option structures: discounts/premiums on exercise and key risks for option holders; common risks for individuals participating in corporate and option agreements.
  • Cash-out transactions and buyer protections: current court practice on warranties, indemnities, and related instruments, as well as recent changes businesses should be aware of.
16:00 – 16:20
16:00 – 16:20
Structuring and Asset Management Through Personal Funds
Yulia Myasnikova, Senior Partner, Head of the Business Structuring and Personal Funds Practice, Nikolaev & Partners Law Firm
16:40 – 17:00
16:40 – 17:00
Coffee & Networking Break
17:00 – 17:20
17:00 – 17:20
Post-M&A Integration: When “Synergy” Means Survival
  • What works in PMI during turbulence
  • Risk management: from HR to cybersecurity
  • “Soft” factors: communication, retention, governance
17:20 – 17:40
17:20 – 17:40
Closing Foreign Asset Deals — The 2026 Compliance Checklist
  • Asset preparation: independent valuation, discounts, Sub-Commission filings
  • Two-stage deal structuring via SPV
  • Legal supervision and common pitfalls
17:40 – 18:00
17:40 – 18:00
Forward Outlook: What to Expect in 2026–2027
  • Will growth deals return?
  • Is the re-export of Russian capital realistic?
  • What regions and sectors will drive growth under new alliances?
18:00
18:00
Conference Wrap-Up & Networking
Be part of the professional investment community and explore new opportunities at the Private Equity & M&A Conference.
For registration or speaker proposals, get in touch via the contact information below.
+ 7 (499) 703-17-97
registrations@rgtcap.com