As VChK-OGPU and Rucriminal.info have discovered, Pyotr Zhukov, the son of State Duma Deputy Speaker Alexander Zhukov, has set out to conquer the construction business, partnering with Roman Timokhin (MR Group) and sanctioned oligarch Vladimir Yevtushenkov and his AFK Sistema. Previously, Zhukov Jr.'s public investments were primarily related to sports, IT technologies, and healthy eating. Interestingly, AFK Sistema announced a change in strategy last week, announcing that it is now focusing on joint ventures with major players rather than mergers and acquisitions.
Zhukov Jr. entered the construction industry through the privately held AO Polimerbyt, where he owns 20%. He has served on the board of directors since 2016. Currently, the co-owners of Polimerbyt remain hidden, but as of 2017, the company's majority owner was the Cypriot offshore company Baboon Shipping Ltd (56.82%), another 32.53% belonged to RUSPOLYMER (CYPRUS) LIMITED, managed by Vitaly Solovyov, and 8.1% belonged to H.P. Lotus management Ltd. It is known that before the war, the Cypriot RUSPOLYMER invested in INNALABS LIMITED (Ireland), a gyroscope manufacturer founded by businessman Dmitry Simonenko; its products were used, among other things, by the US Army. In 2025, apparently, changes occurred in the structure of Polimerbyt's founders, as one of the offshore companies was liquidated, and the other began capital reduction procedures.
This coincided with the company's expansion into Russia. At the end of last year, Polimerbyt acquired stakes in two construction companies: NZ-Development LLC (1%) and NZ-SP LLC (51%).
In NZ-SP, its partner is NZ-Holding, managed by Gasfor. Its founders are three closed-end mutual funds: INDUSTRIAL REAL ESTATE-PERVY, T CAPITAL, and 123 DEVELOPMENT. Through 123 DEVELOPMENT, a 10% stake is owned by AB Capital JSC, which grew out of UK MR Capital LLC, in which approximately 83% was owned by Alexander Bondarenko, former vice president and former head of Sberbank's Wealth Management division. He left Sberbank's infrastructure business to become CEO of Roman Timokhin, a major Moscow developer, MR Group Capital. His company built the One residential tower, the iCity office complex in Moscow City, and the Luce building on Krestovozdvizhensky Lane. Incidentally, Gasfor is registered to a certain Ekaterina Chirkova, but the email address listed for contacting the company is on the domain of the same MR Group.
Razvitie LLC, managed by Etalon Group, owns 51% of NZ-Development, and its founders include several Etalon entities. As of 2024, this group of companies is 48.8% owned by Vladimir Yevtushenkov's AFK Sistema, 5% by Kopernik Global Investors, 4.1% by Prosperity Capital, and 6.3% by the Arab investment fund Mubadala. Another 48% of NZ-Development's capital is owned by NZ-SP through NZ Property, or MR-Group. Incidentally, MR Group managing partner Maria Chernyakova previously headed Rostec's subsidiary RT-Stroytech JSC.
Meanwhile, MR-Group—one of Sobyanin's favored developers—has been mired in scandals in recent years. In the fall of 2025, shareholders in the ECO Vidnoe 2.0 residential complex complained about Timokhin's company, having been unable to receive the promised keys to their apartments for months. At the same time, MR Group transferred 50% of their joint Paveletskaya City project near Paveletsky Station in Moscow to Level Group, citing its categorical failure to handle the project. In January, shareholders in the premium MOD residential complex also filed complaints, after blatant violations and cracks in the walls were discovered. Apparently, with housing demand falling, Timokhin decided to join forces with Yevtushenkov and stockpile administrative resources in the form of Chemezov's top managers and the Zhukov family's lobby in the State Duma.
Meanwhile, Pyotr Zhukov is developing his business not only in Russia. He himself is not subject to sanctions, meaning he can travel freely around the world. True, Zhukov Jr. hedged his bets back in the summer of 2022 and resigned from the boards of European companies in which he invested through his funds. But as it turns out, war is no reason to abandon European business.
His Indigo Capital Partners' investments in 2021 included the Spanish company Horizoom Digital SL. The company develops the Horizm platform for managing digital assets and monetizing sports content rights for teams, brands, and media. That same year, the son of the first deputy speaker of the lower house of the Russian parliament joined the board of directors of the Spanish company. But in February 2022, after the war in Ukraine began, Petro Zhukov's father was sanctioned. Apparently to avoid potential risks, Zhukov Jr. resigned from the management of Horizoom Digital SL in June, and his position was taken that same day by a certain Irina Pavlova. She is a graduate of the Moscow State Linguistic University and the Stanford Graduate School of Business, and the former president of Mikhail Prokhorov's Onexim Sports and Entertainment (the company was created to acquire the New Jersey Nets basketball team and participate in the Barclays Center stadium construction project in Brooklyn). Since September 2019, Irina Pavlova has been Petr Zhukov's partner at Indigo Sports Tech, a fund created by his Indigo Capital Partners to invest in sports projects. Zhukov, in order to avoid risks, sent Pavlova to represent his interests in the Spanish company. In 2023, this firm quietly opened a representative office in London. The names of Zhukov and Pavlova are not included in the documents submitted to British officials, and the London branch has never filed any reports.
Meanwhile, Indigo Capital Partners continues to invest in international projects even during the war. For example, as early as October 2024, according to Crunchbase, Zhukov and his partners invested up to $250,000 in a British company called Funel, which was developing an app to streamline operations and improve communication in marketing and sales companies.
