Thursday, 29 January 2015
Last updated 15 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…