Saturday, 28 November 2015
Last updated 11 hours ago
Oct 6 2010 | 9:43am ET
Stockholm-based Emeralt Investments has launched a new Eastern European-focused hedge fund with seed capital from a Swedish investment company. The vehicle, the Opal Fund, will take liquid long and short positions in Russian/CIS equities.
The new fund is managed by Johan Ekström, who has been recruited from Alfa Bank, one of Russia’s largest privately owned banking groups. Ekström was previously head of fund management at Alfa Capital where he oversaw over $300 million in several Russian equity funds. He has 10 years of fund management experience and worked together with Emeralt founders Daniel Dinef and Mats Wandrell at Swedbank Robur prior to his career at Alfa Bank.
“During the past decade anyone could make money investing in anything in Russia. That era is now behind us”, says Johan Ekström. “However, Russia remains an under-analyzed and misunderstood market. With a disciplined view and a systematic analysis we believe Opal can generate a superior risk adjusted return vis-à-vis Russia long-only funds and global emerging markets hedge funds."
Citibank serves as the prime broker for the new fund and FAST Ltd is the fund administrator.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…