IAE MATERIAL
William Browder — Hermitage Fund
The story of the founder of Hermitage Capital Management and the loss of control over the fund’s Russian entities.
William Browder is the founder and head of Hermitage Capital Management. The case file describes the fund’s loss of control over the Russian companies Riland LLC, Parfenion LLC, and Makhaon LLC after their re-registration to third parties.
Browder was barred from entering Russia in 2005. After events in 2007, Hermitage lawyer Sergey Magnitsky investigated the change of control over the companies and the subsequent tax refund, and reported alleged abuses. These claims should be read with the stated attribution and are not presented here as independent findings by the Association.
According to materials provided by the client, as of 2026 Browder lives outside Russia and continues his international campaign related to the Magnitsky case.
Photo: William Browder, 2015. Wikimedia Commons / Hudson Institute, CC BY 2.0 (credit as stated in the client-provided case file).
Sources
- PACE report on Hermitage Capital and the Magnitsky case — Parliamentary Assembly of the Council of Europe
- Written testimony of William Browder — UK Parliament
Key Dates
- 2005 — Entry ban imposed by Russia. PACE described the refusal to renew the visa and the related representations.
- 2007 — Change of control over Russian companies. The case file and Browder’s testimony to a UK parliamentary committee set out the events and alleged abuses.
- 2026 — Current status as stated in the client-provided case file. Lives outside Russia and continues his international campaign related to the Magnitsky case.