Stockholm-based Emeralt Investments has rolled out a new addition to its range of eastern Europe-focused hedge funds. The Opal Fund will take liquid long and short positions in Russian and CIS equities.
The firm has hired Johan Ekström to manage the fund. He was previously head of fund management at Alfa Capital, the asset management arm of privately-owned Russian banking group Alfa Bank. He has 10 years’ fund management experience and worked with Emeralt founder Daniel Dinef and Mats Wandrell at Swedbank Robur before joining Alfa Bank.
The new Russia-focused fund combines bottom-up stock picking with business-oriented macro