Wednesday, 1 April 2015
Last updated 7 hours ago
Dec 21 2007 | 10:40am ET
Stockholm, Sweden-based East Capital has launched a new utilities fund to invest in the utilities industry, including electricity generation, distribution and service.
The new East Capital Power Utilities Fund will target investment opportunities arising from the ongoing power sector reform in Russia, investing in both listed and unlisted companies. The reform outlines that electricity generation, sales and service companies will be privatized and markets opened. This is expected to improve the cost structure and efficiency of the Russian power sector, which is currently lagging behind Western Europe.
East Capital Explorer AB has invested US$116 million in the fund and Orkla Financial Investments will be the strategic partner in the East Capital Power Utilities Fund investing US$43 million.
Peter Elam Håkansson, Chairman and portfolio manager at East Capital said: “We have always liked the power utilities sector. East Capital Power Utilities Fund will capitalize on the opportunities from the ongoing reform.”
Founded in 1997, East Capital specializes in Eastern European financial markets and manages some US$7.3 billion in assets, both in public and private equity.
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Mar 20 2015 | 12:45pm ET
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