Estonian investors look east

  • 2008-01-23

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

"Azerbaijan Investment Company andEstonia's GILD Bankers and Estonian Caspian Group signed a memorandum on thecreation of a new Azerbaijan Investment Fund," said a release from Azpromo, theAzerbaijan Export and Investment Promotion Foundation, a wing of the AzeriEconomic Ministry.

GILD Bankers was established in 1999 and is a leadingregional investment bank, having already developed several Alternative Fundsdedicated to new Europe and beyond. Though relatively small by internationalstandards (its alternative funds manage around EUR 120m, its Arbitrage andGlobal Opportunity funds have been two of the most interesting and innovativehedge funds created in the region.