Citing the poor performance of the East Capital Bering Funds, East Capital Explorer AB announced in late September a plan to make additional investments in the two funds. The Bering Russia Fund received €20 million while the Bering Balkan Fund received €10 million. With the investments complete East Capital Explorer reports €42.1 million available for future projects and €80.5 m in cash and deposits.
East Capital Bering Funds
The East Capital Bering Funds is a group of five individual funds, Bering Russia, Bering Balkan, Bering Ukraine, Bering Central Asia, and Bering New Europe, which are now mostly closed for new investment. The funds are designed to provide opportunities for investment that would otherwise be unavailable via local stock markets. Each fund covers a specific region and has diversified holdings in several countries.
East Capital Explorer AB
Based in Stockholm, East Capital Explorer (ECE) is an investment firm providing investment opportunities in unlisted companies throughout Eastern Europe and Central Asia. ECE currently manages eight public equity funds, five semi-public equity funds, two private equity funds and one real estate fund. High-growth sectors such as consumer goods, financial services, power utilities, real estate, and retail are targeted by ECE.
The company has retained asset management firm East Capital, an entirely separate and independent company, as manager of its investment activities.
East Capital (www.eastcapital.com)
Founded in 1997, Swedish-based East Capital specializes in private equity investments within the financial markets of Russia and Central and Eastern Europe. Headquartered in Stockholm the Company has offices in Paris, Tallinn, Oslo, Vienna, Moscow and Hong Kong. The firm’s team was established by experienced professionals from the Russian and Baltic States and now numbers at 170 employees.
East Capital focuses on the public and private equity market, providing capital and development services in portfolio management, corporate finance, research and equity trading.