Browder and Edmond Safra (1932–1999) founded Hermitage Capital Management in 1996 for the purpose of investing initial seed capital of $25 million in Russia during the period of the mass privatisation after the fall of the Soviet Union.
Hermitage Capital Management was founded by Browder and Edmond Safra in 1996, with the goal of investing an initial $25 million in Russia as part of the country's mass privatisation programme after the end of the Soviet era.