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East Capital launches new power utilities-focused fund18/12/2007. Source: AltAssets. 
 Eastern Europe-focused asset manager East Capital has launched a new fund to target the power utilities sector. The East Capital Power Utilities Fund will invest in the power utilities industry in Russia and other CIS countries including the Ukraine, Kazakhstan and Georgia.
The new fund targets investment opportunities arising from the ongoing power sector reform in Russia, according to a statement. It plans to invest in both listed and unlisted companies across sub-sectors of the industry, including electricity generation, distribution and service.
Peter Elam Håkansson, chairman and portfolio manager, East Capital, said, 'We have always liked the power utilities sector. East Capital Power Utilities Fund will capitalise on the opportunities from the ongoing reform.'
Associated investment firm East Capital Explorer has invested €81m in the new fund, alongside Norwegian investment firm Orkla Financial Investments, which is investing €30m.
East Capital was founded in 1997. The firm is headquartered in Stockholm, with offices in Paris, Tallinn, Moscow, Oslo, Hong Kong and Milan.
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