Tue, Jul 26, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Russia-focused hedge fund to launch Cyprus Recovery pool for its investors

Wednesday, May 29, 2013

Benedicte Gravrand, Opalesque Geneva:

The recent Cyprus banking crisis, triggered by the Eurozone debt crisis, sent shock waves through Europe, Russia and the global financial system. It was said that Russian companies and individuals then had about $31bn deposited in Cyprus. Cyprus did call on Russia for a loan extension and financial aid against assets, such as gas exploration rights, and controlling shares in Cypriot banks, but Russia ended the talks. A few days later, on March 25, Cyprus and the EU agreed on a $13bn bailout package. Cyprus is the fifth country that the Eurozone has helped with its debt crisis. The package would help pay the country’s bills but also deduct billions of euros from the savings accounts of wealthy Russians and leave billions more of Russian assets frozen in Cypriot banks, noted Foreign Affairs, which went on to say that Moscow’s decision to turn down a deal with Nicosia was, in the end, in Russia’s long-term interests.

Stratfor, a geopolitical intelligence company, predicts that Russia will remain aware of its vulnerability after taking this hit from the offshore financial haven of Cyprus, ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. Opalesque Exclusive: ArbitrOption outperforms benchmarks, up 7.18% in H1[more]

    Komfie Manalo, Opalesque Asia: Independent registered advisor ArbitrOption breezed through the tumultuous Brexit referendum and outperformed its benchmarks. ArbitrOption was up 7.18% in the first half of 2016 compared to the S&P 500 which gain

  4. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

    European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

  5. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

    Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New