Eastern European asset manager East Capital is to launch a new fund targeting investment opportunities that arise in the current market downturn. The Special Opportunities Fund is due to be launched in the second quarter of 2009 and is mandated to invest in Russia and the rest of Eastern Europe.
Eastern European asset manager East Capital is to launch a new fund targeting investment opportunities that arise in the current market downturn. The Special Opportunities Fund is due to be launched in the second quarter of 2009 and is mandated to invest in Russia and the rest of Eastern Europe.
The fund will focus on investments in companies with a solid operation and business outlook, which due to market or owner-specific reasons can be acquired at low valuation levels. East Capital will, when appropriate, take a more active role in the company through board representation or other means.
The fund will target institutional and other investors and the maximum fund size is limited to $100 mln (EUR 78.6 mln). The fund term is four years. The board of directors of East Capital Explorer AB will invest EUR 35 mln in the fund upon its launch.
