"Our core expertise is to provide independent corporate and investment advice to domestic and international clients who invest across the various sectors of the Russian economy and to the Russian clients with respect to their objectives outside of Russia"


Corporate Finance

The Team

Selected Recent Transactions

Deal list since inception

Advisory work for Rusenergo Fund, 2010-2014




Andrei Boulanov Andrey Boulanov
Director, Head of M&A Execution
Andrey joined Xenon in January 2011. Since then, he has worked on numerous deals within the Russian power, oil&gas and media sectors.

Most recently, Andrey was actively involved in the landmark advisory to Eurasia Drilling Company, Russia’s largest drilling company, on a sale of a controlling stake to Schlumberger and a sale of a minority stake to a consortium of Russian and international sovereign investors. The recent sale marks Schlumberger's second attempt to buy a stake in EDC. At the beginning of 2015, EDC shareholders agreed to sell Schlumberger 46% of the company with an option to buy out the remaining stake at a future date. Although a minority sale to Schlumberger was suspended for regulatory reasons, EDC was taken private by its core shareholders in November 2015 in a transaction that valued 100% of its equity at $1.7bn. Andrey advised on these high-profile transactions in 2015.

In 2015, he also worked on a $200mm acquisition of the 75% stake in operating assets of CTC Media by UTH Russia followed by a cash-out merger transaction to allow a buyout of shares held by Modern Times Group (MTG) and public minority shareholders and subsequent delisting in May 2016. In 2012, Andrey coordinated the work of the private equity consortium comprised of Rusenergo Fund, AGC Equity Partners, RDIF and MRIF on with regard to the purchase of a 26.43% stake in the leading Russian power producer generator OJSC ENEL OGK-5, the largest ever private equity transaction in the Russian power sector.

Prior to joining Xenon, Andrey spent 3 years at J.P. Morgan in their Industrial Investment Banking Group in London and Moscow where he was largely dedicated to transactions in transportation, steel, and fertilizers.

Andrey holds a masters degree from the Higher School of Economics in Finance and a degree from Paris I Pantheon-Sorbonne in Economics.

Andrey is a passionate Ironman triathlete (Ironman Nice 2013, Ironman Zurich 2014, Ironman Copenhagen 2014).

Alexey Kirichok Alexey Kirichok
Alexey is an Associate in XENON.

Prior to XENON Alexey spent 3 years as an investment banking and equity research analyst at Sberbank CIB, focusing primarily on Consumer and Metals & Mining sectors.

Alexey graduated from Financial University under the Government of the Russian Federation. Alexey also studied Finance in Complutense University of Madrid as an exchange student.

Alexey loves winter sports and thinks he is a strong cross-country skier.

Ksenia Kushner Ksenia Kushner
Since joining Xenon in April 2015 Ksenia has been involved in a number of deals in the Russian oil&gas and media.

Most recently, she worked on two high-profile transactions in the Russian oil&gas sector including a sale of a controlling stake in EDC, Russia’s largest provider of drilling services, to Schlumberger and a sale of a minority stake in EDC to a consortium of leading Russian and international sovereign investors. In 2015, she was involved in a $200mm acquisition of 75% in operating assets of CTC Media by UTH Russia and a take-private of Eurasia Drilling Company by its core shareholders.

Prior to Xenon, Ksenia interned in Equity research department at Credit Suisse (Moscow) with focus on Transportation and Metals and mining sectors

Ksenia holds a masters degree from the Higher School of Economics in collaboration with the London School of Economics and Political Science.

Ksenia is passionate about the Spanish language, and was a volunteer of the Spanish tourism campaign.




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