Cross-border private equity, M&A advisory & strategic investment across Russia / CIS and the Silk Road region
15+
Years Active
$3B+
Transactions Advised
3
Core Geographies
18
Select Transactions
About Trilogy Capital Group
Operating where relationships, access, and geopolitical expertise are the decisive edge
Founded in 2009 and based in Moscow, TCG is an international investment firm and strategic advisor specializing in cross-border private M&A, JV formation, and special situations across Russia/CIS and the Silk Road region.
2009
Founded
Over 15 years of continuous cross-border deal flow between Russia/CIS and Southeast Asia and beyond.
Dual
Advisory & Principal
TCG acts both as exclusive financial/strategic advisor and as principal, aligning our interests directly with those of our clients.
Edge
Geopolitical
We specialize in markets where conventional advisory is insufficient — where access, credibility, and discretion determine outcomes.
Our philosophy
Principals trained at Goldman Sachs, Lehman Brothers, DLJ, KKR, UFG Private Equity & Harvard Business School
Trilogy Capital Group was founded on the belief that the most consequential transactions in emerging and frontier markets are won or lost on the basis of relationships, political access, and the capacity to operate with discretion at the highest levels. We do not pursue volume. We pursue transactions that matter — where our network, our judgment, and our willingness to act as principal create outcomes that no conventional investment bank could deliver.
What we do
Capabilities
Six integrated service lines, each underpinned by the same proprietary network across Russia, China, and the Silk Road corridor.
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Cross-Border M&A
Buy-side, sell-side, and merger advisory across Russia/CIS, China, and the Silk Road. We act as exclusive advisor, providing access to counterparties and regulatory relationships unavailable through conventional channels.
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Capital Raising
Structuring and placement in restricted-access markets. We connect issuers and investors across jurisdictions where standard capital markets infrastructure does not operate effectively.
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Principal Investing
TCG co-invests alongside clients in select transactions, providing capital as well as advisory. Our principal commitments are an expression of conviction — we invest where we advise.
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Market Entry Advisory
Regulatory approvals, local partnership facilitation, and political risk navigation for international entrants into Russia/CIS, Central Asia, and China — and vice versa.
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Commodity Trading
Proprietary trading in non-ferrous metals and oil products. Active since 2018 across China, Korea, Mongolia, the Netherlands, the UK, and Switzerland. We act as principal, not broker.
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Real Estate Development
Principal development in select Russian markets. Current flagship: Bukovye Allei (The Cedar Alleys), Kaliningrad.
Where we operate
Sectors
Concentrated expertise across six sectors, each with a decades-long transaction record and active deal flow.
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Energy
Hydro, solar, oil & gas, and power generation. From the landmark YES Energo Russia-China hydropower JV (2011) to the 2025 acquisition of an overseas Russian energy portfolio.
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Metals & Mining
Aluminium, manganese, steel, and uranium. Multi-year aluminium trading programs, a landmark cross-border manganese mining partnership (South Africa × China), and uranium mining ventures in Mongolia, Namibia, and Armenia.
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Infrastructure
Ports, transport, and utilities. Advisory on the Zarubino Pacific Seaport JV (Summa × China Merchants Group) and power plant construction in Mongolia.
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Technology & AI
Cross-border technology partnerships and AI commercialization agreements between leading Chinese technology groups and Russian AI developers.
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Real Estate
Principal development and investment. Current flagship: Bukovye Allei, Kaliningrad — a 104-hectare residential and commercial development with a ₽56bn investment commitment.
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Heavy Industry
Machinery, specialty steel, and industrial restructuring. Long-term advisory on the OMZ–AEM merger (Rosatom) and financial restructuring of Krasny Oktyabr and Zlatoust Metallurgical.
Select Transactions
Track Record
A non-exhaustive selection spanning 15+ years across M&A, JV formation, commodity trading, restructuring, and principal investing.
2026
Leading Chinese Tech Group × Russian AI Developer
Cross-border AI development & commercialization agreement
Exclusive JV Advisor
2025–pres
The Cedar Alleys, Kaliningrad
Residential & commercial real estate
Principal
2025–pres
Strategic International Consortium
Acquisition of overseas assets from leading Russian energy producer
Buy-side Advisor
2025
Leading Russian Renewable Energy Operator — Tajikistan
Renewables market entry; regulatory approvals & local partnerships
Market Entry Advisor
2024–25
Leading Manganese Producer (South Africa) × Major Global Consolidator (China)
Strategic mining partnership — South Africa × China
Exclusive JV Advisor
2024–pres
Major Potash Greenfield — Kaliningrad
Principal investment in the major potash greenfield
Multi-year merger between Gazprombank and Rosatom subsidiaries
Exclusive Sell-side Advisor
2018
ROTEC Group — Mongolia
Power plant construction advisory
Market Entry Advisor
2014–15
Summa Group × China Merchants Group
Zarubino Pacific Seaport JV
Exclusive JV Advisor
2013
Sale of Land Assets to Summa Group
Divestiture by major Russian industrial group of Far East land assets
Exclusive Sell-side Advisor
2012
Kara-Balta Uranium Factory × Renova Group
Consolidation and sale of 20% stake in Kara-Balta Uranium
Principal
2011
YES Energo JV — Evrosibenergo × China Yangtze Power
Largest Russia–China hydropower joint venture
Exclusive JV Advisor
2011
China Yangtze Power — Cornerstone Investment in Evrosibenergo IPO
Cornerstone investment commitment ahead of Russian hydropower IPO
Buy-side Advisor
2010
Atomredmetzoloto (ARMZ / Rosatom)
Acquisition of uranium deposits in Mongolia
Market Entry Advisor
2009
Kamchatka Gold (Renova) × China Gold
Signed in the presence of Presidents Medvedev & Hu Jintao
Exclusive Sell-side Advisor
¹ Non-exhaustive. Certain party names withheld at client request.
Leadership
Team
A compact, senior team — each member selected for network depth, transactional judgment, and the capacity to operate at the highest levels of government and business.
Salavat Rezbaev
Chairman
Goldman Sachs (NY) · DLJ · Tiger Management · Gazprombank. Founder, airNova — Russia's first low-cost airline project. Asia Society 2011 · Horasis 2012 Businessman of the Year. MBA Harvard (Blavatnik Fellow) · BA MGIMO.
Dmitry Elkin
Partner
CEO Twelve Seas I/II/III (Nasdaq SPACs). General Partner, UFG Private Equity. KKR, Lehman Brothers, Cannon Associates. BS Math MSU · MBA Harvard.
Svetlana Muravieva
Chief Legal
Legal and corporate leadership across Renova Group portfolio companies and affiliates of state corporation Rosatom, Pochta Rossii, and Infrastruktura Kapital. BS (Law), Moscow State University.
Alexandra Kopylova
Executive Director
COO, Citybike (VTB). Alfa-Bank, MKB, MMB. Finance Academy, Ministry of Finance of Russia.
Contact Us
Contact
TCG works on a strictly selective, relationship-first basis. All inquiries are treated as private and confidential.
Office
Moscow, Russian Federation
Discretion
All communications are handled with complete discretion. TCG does not respond to unsolicited commercial inquiries.
Mandate types
M&A advisory · Capital raising · Market entry Strategic partnerships · Principal co-investment
