New fund targets scorched stocks in Eastern Europe

A new special situations fund is being launched to back survivors in the devastated capital markets in Russia and Eastern Europe. The target size of the new East Capital Special Opportunities Fund is $100 million and it will be seeded by a €35 million investment from East Capital Explorer, which luckily raised cash before the crisis, and has sat on it waiting for the right time to invest. There is a 2% management fee, and a 20% performance fee, with a 7% hurdle. It will target inves…