Fund launches & closures

Terra closes Bangladesh fund as ‘deep value’ evaporates

by

Craig Stanley
Terra Partners Group, a Prague-headquartered frontier market specialist and activist investor, has shuttered its absolute return, equity-focused Bangladesh Fund.

Craig Stanley, the managing director at Terra Partners, said as early as last August Terra started returning money to investors after the group decided that “deep-value” opportunities have become more difficult to identify.

The fund, which reached its peak assets of around $33 million in 2007, was down to $5 million two months ago and had returned the remaining cash to investors by early February.

The group is also shutting down a frontier fund