UFG Private Equity, the buyout and growth equity arm of Russia-focused alternative investment group UFG Asset Management, has acquired a large minority stake in Russia-based telecom infrastructure developer Russian Towers through its third fund. UFG acquired the stake from Macquarie Infrastructure and Real Assets (MIRA), which originally invested in Russian Towers in 2012. UFG also retains the stakes in the company previously acquired through its second fund in 2009 and 2012. Financial details of the transaction were not disclosed.