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Special Endowment Fund Management for the Development of the State Hermitage Museum non-profit organisation was registered on 27 April 2011 to raise, use and distribute an endowment for the State Hermitage Museum according to processes stipulated by Russian legislation.
The Endowment replenishes two target capitals in order to use different strategies and develop healthy competition. In 2011 as the result of a tender process ZAO Gazprombank- Share Managment was chosen as the fund manager. In 2017 the Capital No. 2 was raised and placed under management of TKB Investment Partners.
At present this fund is the largest endowment fund for culture in Russia.
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The fund was founded by State Hermitage Museum General Director Mikhail B. Piotrovsky, V. Î. Potanin and State Hermitage Museum (legal entity).
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