Sergey Generalov


Sergey is a prominent investor and entrepreneur. He founded the Industrial Investors Group in 1999 and has overseen its development and growth since then. Under Sergey’s leadership the Industrial Investors Group has grown its investment portfolio initially focusing on strategic private equity investments and later on technology investing. He had served as the CEO of FESCO Transportation Group, one of the major investments of the Industrial Investors Group, and led its development into one of the largest and most successful multimodal transportation companies in Russia serving the Asia – Europe and other major transportation routes within Russia. Prior to founding the Industrial Investors Group Sergey held several senior management positions in YUKOS Oil Company and Menatep Bank. Sergey has a Bachelor degree in Radiophysics and Masters degree in International Management.

Andrey Burlinov

Chief Executive Officer

Andrey has been the CEO of Industrial Investors Group since 2013. In this capacity he has led all of the Group’s key investment activities and provided strategic oversight for the Group’s portfolio companies including serving as the CEO of Transas Group prior to Wartsila’s acquisition of Transas in 2018. Prior to joining the Industrial Investors Group Andrey had spent over 20 years in investment banking in the US and Russia. He held various investment banking positions at Donaldson, Lufkin & Jenrette and Credit Suisse First Boston in New York. He also served in various senior banking roles in Moscow with responsibility for top corporate clients in the energy and transportation sectors. Andrey has received a BSc in Computer Science from Illinois Institute of Technology (Chicago, USA) and an MBA from Erasmus University (Rotterdam, the Netherlands).

Maxim Likhachev

Head of Treasury

Maxim has been a part of Industrial Investors Group team since the group’s establishment in 1999. He is responsible for the Treasury operations and liquidity management. Maxim has over 25 years’ investment experience. He has participated in the group’s investment activities and held positions on the Boards of the group’s portfolio companies. Maxim holds a BS in International Business (Summa Cum Laude) and an MBA degree (specialization in Finance) from the University of New Haven (Connecticut, USA).

Joel McDonald

General Counsel

Joel has been the General Counsel of Industrial Investors Group and head of its London office since 2006. During that time, he has provided strategic legal advice to management on the Group’s key investment activities. Before joining Industrial Investors Group, Joel practiced law for 20 years in Washington, DC, New York, Moscow and London. He was a partner at Salans (now Dentons) and was a member of its Management Committee and chairman of its Taxation Committee.  Joel received a BS in Accounting (summa cum laude) from the University of Alabama and a law degree from the University of Virginia, where he was a member of the Virginia Law Review and the Order of the Coif.

Philipp Otdelnov

Managing Director

Philipp joined Industrial Investors Group in 2013 as a Managing Director. He has been involved in all private investments made by the group and participated in managing the Group’s portfolio companies. Prior to joining Industrial Investors Group Philipp worked at Deutsche Bank and Alfa-Bank corporate finance teams where he participated in a number of major M&A transactions in Oil and Gas, Logistics, Transportation and other sectors. Philipp holds a Master of Science degree in Management from The London School of Economics and Political Science and a Bachelor of Science degree in Economics from The University of London.

Anton Generalov

Managing Director

Anton has contributed to the development of several of Industrial Investors portfolio companies in logistics and aviation sectors. He had participated in establishing FESCO’s public markets strategy prior to Industrial Investors’ successful exit from this investment. Anton also served as the Chairman of the Board of Dexter Air Taxi overseeing the company‘s regional expansion and addition of new services. Anton holds a Specialist degree in Management from the Higher School of Economics (Moscow, Russia) and an MBA from the California State University East Bay (Hayward, California).