Our story

LetterOne (L1) was founded in 2013 and is headquartered in Luxembourg.

We are an international business targeting investments in sectors where we have world class expertise, and where we believe we can generate long-term sustainable growth:

  • Energy – where we look for opportunities in the $1-5 billion range
  • Technology – where we seek to build around our existing platform and into adjacent sectors, including internet and mobile apps
  • Treasury and Private Equity – where we manage the liquidity and financial investments of L1.

Our assets under management at 31 December 2014 amounted to approximately $25 billion. The sources of our assets are funds from the sale of TNK-BP, but also from assets invested prior to L1’s formation. These include VimpelCom, Turkcell and private equity investments.

“As long-term relationship investors and entrepreneurs, we work actively with the companies we invest in, to help them realise their visions and deliver sustained growth”

Mikhail Fridman