 In February 2011, the government floated an additional 10% minus two shares of VTB Bank.The private investors, who paid a total of 95.7 billion rubles ($3.1 billion) for the assets, included the investment funds Generali, TPG Capital, China Investment Corp, a sovereign wealth fund responsible for managing China's foreign exchange reserves, and companies affiliated with businessman Suleiman Kerimov.In May 2013 VTB completed a secondary public offering (SPO), issuing 2.5 trillion new additional shares by public subscription.