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Last updated 17 hours ago
Apr 5 2012 | 12:21pm ET
SG Alpha, which specializes in emerging European markets, has launched a new hedge fund dedicated to one.
The SG Alpha Ukraine Fund debuted on April 2 with $10 million, provided by European institutional investors, HFMWeek reports. The firm expects the fund to hit $100 million within two years.
SG founder Steffen Gruschka has been investing in the Ukraine for more than a decade, and the new fund aims to profit from the country's low price/earnings ratios and a possible free-trade agreement between it and the European Union.
SG was founded in 2009 and currently manages the SG Alpha Emerging Europe Fund.
Gruschka worked at Deutsche Bank prior to founding SG.