A Turkish private equity fund owned by AIG Investments, the asset management arm of the US insurer, which was closed before its capital had been fully committed, has sold its oldest investment in the country as it seeks to reinvent its operations there.
AIG Capital Partners has sold Turkeyâs largest cinema chain, AFM Uluslararasi Film Produksiyon, known as AFM Cinemas, to A1 Group Limited, an investment group affiliated to Russian conglomerate the Alfa-Group Consortium. A1 Group invests directly in Russian companies, communist independent states and emerging markets.
