New Fund Of Funds From Erste Bank Focuses On Central And Eastern Europe

A new fund of hedge funds from Erste Bank, Maximum Emerging Alpha Fund, will invest 40 percent of its capital into hedge funds in Central and Eastern Europe, according to the Budapest Business Journal. Erste has invested $30 million into

By None

A new fund of hedge funds from Erste Bank, Maximum Emerging Alpha Fund, will invest 40 percent of its capital into hedge funds in Central and Eastern Europe, according to the Budapest Business Journal.

Erste has invested $30 million into the fund at the beginning of the month to activate it, the company told the journal. Beside hedge funds, the company will invest in emerging-market financial instruments.

The bank itself is betting on the region as its main axis of growth. Erste recently paid $2.76 billion to purchase of Banca Comerciala Romana SA in Romania.

Erste, which has more than $1.3 billion in assets, is expected to use between 25 and 35 percent of the fund’s capital to start new funds. The company added that it expects the fund to invest in about 30 hedge funds at a time.

«