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Horizon Capital to Sell Its Stake in Ciklum to the Ukrainian Redevelopment Fund (CEE and CIS)

Horizon Capital, a private equity fund manager that focuses on investments in mid-cap companies in the CEE and CIS region, will sell its entire stake in Ukraine-based IT service provider Ciklum to the Ukrainian Redevelopment Fund, a fund managed by private investment advisor Soros Fund Management. Horizon Capital originally invested in Ciklum in 2012. Financial details of the transaction, which is expected to be completed by the end of 2015 and is subject to customary closing conditions and regulatory approval, were not disclosed.