Ilya Sherbovich: Architecting Investment Growth at United Capital Partners

Ilya Sherbovich has carved a notable path in the investment world, culminating in his leadership of United Capital Partners (UCP). His career reflects a progression through various financial institutions, from international development finance to a prominent Russian investment bank, before founding his own asset management firm. His strategic decisions and deep involvement have been central to UCP’s development into a significant player in the investment landscape.

Early Forays into Finance

Sherbovich’s professional journey began during his university years in Moscow. In 1991, he enrolled at the Plekhanov Russian University of Economics, focusing on Economics and business management. While still a student, he gained early experience in the financial sector, joining the International Finance Corporation (IFC), an investment arm of the World Bank dedicated to emerging markets. This initial role provided him with exposure to global financial operations. In 1994, he transitioned to the Russian Federal Commission for the Securities Market, where he served as a consultant within the Capital Markets Surveillance Unit of the privatization department. These early positions laid the groundwork for his subsequent career in investment and asset management.

A Decade at United Financial Group

In 1995, Sherbovich joined United Financial Group (UFG), a brokerage firm established by Boris Fyodorov and Charles Ryan. He spent over twelve years at UFG, a period that saw significant changes for the company. In 2003, Deutsche Bank acquired a 40% stake in UFG, with an agreement to purchase the remaining shares later. This option was exercised in 2006, leading to the formation of Deutsche UFG. Sherbovich remained a key figure, taking on the role of President of the newly formed joint venture. Concurrently, he headed the Investment Banking business for Deutsche Bank’s Russian operations. During his presidency, the bank was actively involved in Russian mergers and acquisitions, as well as the initial and secondary public offering markets. By the time UFG was fully acquired by a Deutsche Bank subsidiary in 2006, Sherbovich was a substantial shareholder, holding approximately 20% of the firm.

Establishing United Capital Partners

Following the sale of his stake in UFG, Sherbovich embarked on an entrepreneurial venture in 2007. He channeled the proceeds from the UFG sale into a new investment company, United Capital Partners (UCP), which had been founded in late 2006 by a group of former UFG colleagues and shareholders. In September 2007, Sherbovich assumed the leadership roles of President and Managing Partner at UCP, also becoming the largest shareholder with more than 50% of the firm’s capital. Under his guidance, UCP grew its asset base, managing approximately $3.5 billion in total assets by August 2013. By the summer of 2016, his ownership stake in the UCP Group of companies had increased to 77.7%. UCP Investment Group operates as an independent asset management company, focusing on investments in both publicly traded securities and private companies. Its diverse investment portfolio spans various sectors, including industrial, oil and gas, infrastructure, retail, consumer goods, private pension funds, and internet technologies.