A Moscow court released American private equity manager Michael Calvey to house arrest after two months in jail in a case that has shaken the nerves of foreign investors who remain in Russia.
The Basmanny Court judge at a hearing April 11 granted a motion from investigators that Calvey, who built Baring Vostok Capital Partners into one of the country’s biggest investment funds, be moved to house arrest. The sudden shift in the authorities’ position came after a chorus of criticism of Calvey’s jailing from Russian officials and business leaders. But several other Baring Vostok executives linked to the case, including Russian nationals and a French citizen, had their detentions extended by three months earlier this week.
