Andrey Muravyov
Andrey Muravyov | |
|---|---|
| Born | October 26, 1974 Kemerovo, Russia |
| Occupation(s) | Businessman, investor |
| Years active | 1999–present |
| Known for | Leadership in cement industry, investments in digital payment industry (QIWI) |
Andrey Anatolievich Muravyov (; born 26 October 1974) is a prominent Russian businessman recognized for his leadership within the cement sector and his investments in the digital payment industry, particularly through holdings in QIWI.
Early life and education
Muravyov was born in Kemerovo and completed his studies at Kemerovo State University of Technology, graduating from the Department of Economics in 1997 with a specialization in accounting and auditing. The following year, he obtained a finance degree from the University of San Francisco School of Management. Between 1993 and 1998, he resided and worked in the United States.
Career
His professional journey includes positions at ZAO TransUgol in Moscow (1999–2000) and within the Kemerovo Regional Government (2002–2003), followed by his appointment as Vice President at Sibconcord, a financial-industrial group. Muravyov was instrumental as a founding shareholder and served as President of Siberian Cement, a leading entity in Russia’s cement industry. Additionally, he holds a board position at Rocket and Space Corporation Energia.
In August 2008, Muravyov launched Parus Capital Limited, an investment fund focusing on sectors such as food production, information technology, real estate, and the development of new cement manufacturing facilities.
Finance Magazine estimated his net worth at RUB 3.7 billion (approximately US$122 million) in 2008, which increased to around US$290 million by February 2011.
In 2020, the U.S. government charged Muravyov with violations related to campaign finance laws tied to an operation involving Rudy Giuliani and others aimed at funneling unlawful contributions to American political figures, including Florida Governor Ron DeSantis’s campaign. These allegations were publicly disclosed in March 2022.
SIIC LLC
In 2000, Andrey Muravyov co-founded Siberian Industrial Investment Company LLC (SIIC) and took on the role of CEO. The company entered public scrutiny in 2012 due to a legal conflict with Siberian Cement concerning an outstanding loan. In 2007, Siberian Cement transferred RUB 30 million (approximately US$1 million) to SIIC LLC. At that time, Muravyov was serving as President of SibCem, while fellow SIIC founder Andrey Kirikov was part of SibCem's board. In April 2012, the Kemerovo Regional Arbitration Court ruled that SIIC LLC must repay the debt along with accrued interest and penalties amounting to RUB 38.5 million to Topkinsk Cement LLC, a subsidiary of SibCem.
Siberian Cement Holding Company
As one of the founding shareholders of Siberian Cement in 2004, Muravyov held the position of President until 2008. During his tenure, the holding consolidated key cement assets, undertook substantial modernization investments, and completed a public offering. He also implemented an efficient sales strategy. By mid-2008, SibCem had become Russia’s second-largest cement producer and ranked among the most efficient globally, achieving profit margins reaching up to 53%. Expert magazine appraised SibCem’s market value at as much as US$5.7 billion, describing it as the highest-valued cement company worldwide.
Muravyov stepped down as President in August 2008 and shortly thereafter began divesting his shares due to limited involvement in daily operations. By late 2009, he had exited the cement sector entirely to concentrate on agricultural ventures in Krasnodar Region and investments in IT projects, including acquiring a 10% interest in Integrated Instant Payment Systems.
His departure followed disputes with SibCem Chairman Oleg Sharykin regarding a EUR 476 million acquisition deal for Intelcementi’s Turkish assets—a transaction Muravyov supported as strategically vital for expanding domestic and international market presence. Although a binding agreement was executed in May 2008 with an upfront commitment fee of EUR 50 million paid, the deal was terminated by November that year. The principal shareholder contested this agreement legally in early 2009 and prevailed, prompting ongoing efforts to reclaim the commitment fee.
Following Muravyov’s exit in 2012, Siberian Cement conducted an internal audit uncovering financial misconduct during his leadership period. The review revealed significant unpaid loans extended to former senior executives and affiliated entities. Current management initiated legal proceedings to recover approximately RUB 140 million owed—including penalties and interest—from former officials such as Sergey Khrapunov, Andrey Kirikov, and SIIC LLC.
RTM OAO
In the autumn of 2008, Muravyov, together with Andrey Kirikov, a founding shareholder of SibCem, acquired a controlling interest of approximately 42% in RTM, a company engaged in the development and management of contemporary shopping centers. Muravyov joined RTM's board in November 2008 and was appointed chairman the following month, while SibCem's former vice president for economics and finance took on the position of RTM's General Director.
The acquisition of RTM led to disputes with SibCem's management over contested ownership rights; nevertheless, Muravyov clarified that this investment was made personally and was independent of SibCem, a stance that SibCem corroborated.
By mid-2008, Colliers International appraised RTM's property assets at US$983.4 million. However, by June 2009, General Director Khrapunov indicated that the asset value had declined to between US$350 million and US$400 million due to a collapse in real estate prices triggered by the financial crisis. During this period, RTM's debt increased from US$486 million to US$530 million, with non-performing loans estimated at around US$450 million. The company filed for bankruptcy in July 2009 and entered into receivership by the fall of 2011.
In 2012, Investment Funds LLC, one of RTM’s creditors, accused the company’s owners of illicit activities including diverting roughly US$100 million from rental income, VAT reimbursements, and property sales during 2008–2011. The creditor also alleged deliberate defaults on loans owed to major banks such as Sberbank, Vnesheconombank, Uniastrum Bank, and Alfa Bank, causing these institutions losses estimated at no less than US$300 million.
Parus Capital
Muravyov established the Parus Capital investment fund in 2008 in collaboration with Boris Sigegubko, an experienced investment banker formerly with UBS. Parus Capital specializes in identifying undervalued Russian securities that tend to be overlooked by foreign investors. Beginning with an initial capital of US$30 million in 2008, the fund expanded its assets to US$50 million by 2012 without additional capital contributions and achieved an annual growth rate of 19% that year. It is reported that principal shareholders have access to an additional US$150 million through equity and debt financing.
Launched in 2009 utilizing Parus Capital’s resources, Parus Agro Group concentrates on crop production and operates approximately 95,000 hectares of farmland across Russia’s Krasnodar Region and Ukraine. The group encompasses marketing and logistics companies as well as grain storage facilities capable of holding up to 290,000 tons. The fund has also invested in QIWI and various real estate development initiatives. In addition, Muravyov founded Ecopromservice in 2010 — Russia’s only facility dedicated to recycling oversized tires — as well as United Water Company based in Pyatigorsk for mineral water production and bottling.
U.S. indictment
On March 14, 2022, Muravyov faced charges related to making unlawful political contributions as a foreign national and conspiring to do so through intermediaries Lev Parnas and Igor Fruman. His identity as "Foreign National-1" was initially revealed by David Corn in October 2019 amid accusations involving efforts to influence U.S. politicians connected to a cannabis business venture.
Personal life
Muravyov is married and has two sons.