Russia and CIS-focused private equity firm Elbrus Capital has invested in Russian express delivery service SPSR-Express. As part of the transaction, Elbrus will acquire a portion of the stake currently held by the Russian Retail Growth Fund, which is managed by Russian private equity firm Svarog Capital Advisors. The transaction marks Elbrus’s first investment from its second private equity fund, Elbrus Capital Fund II, which held a first close at US$300 million concurrent to the SPSR-Express deal. Financial details of the transaction were not disclosed.