Estonian investors look east

TALLINN -- Baltic investment bank GILD Bankers is teaming up with Azerbaijani-Estonian joint venture Caspian Group to establish an Azerbaijan Investment Fund, it was announced at the conclusion of an Azerbaijan-Estonia business forum held in Tallinn on Jan. 25th.

"Azerbaijan Investment Company and Estonia's GILD Bankers and Estonian Caspian Group signed a memorandum on the creation of a new Azerbaijan Investment Fund," said a release from Azpromo, the Azerbaijan Export and Investment Promotion Foundation, a wing of the Azeri Economic Ministry.

GILD Bankers was established in 1999 and is a leading regional investment bank, having already developed several Alternative Funds dedicated to new Europe and beyond. Though relatively small by international standards (its alternative funds manage around EUR 120m, its Arbitrage and Global Opportunity funds have been two of the most interesting and innovative hedge funds created in the region.