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Clemente Cappello Benedicte Gravrand, Opalesque Geneva:

Sturgeon Capital, a frontier markets fund manager, is to launch the Sturgeon Medes Fund. The Bermuda-domiciled fund will invest in Iran and its region’s listed equities.

"Subject to final approvals, the Fund is expected to soft launch with internal capital towards the end of August 2015 or the beginning of September 2015. This will be with around US$1 million of internal capital," Paul Henderson, head of business development and marketing at Sturgeon, told Opalesque.

The firm has a number of interested parties with whom they are currently speaking to as potential day-1 investors and the target launch size is $20 million, with an expected capacity is $500 million once sanctions are lifted. The full launch is targeted for October 2015.

London-based Sturgeon Capital, founded by Clemente Cappello in 2005, launched its first Central Asia fund in 2006. Now the firm has $75 million in AuM in three portfolios investing in listed equities, private equity, special situations, credit and fixed income across new Silk Road markets.

Clemente Cappello has been travelling to Iran on research visits since 2011, according to Henderson. And the firm has partnered with the leading brokerage business in Iran, Mofid Securities.

The fund will invest in equities through the Tehran Stock Exchange and the Iran Fara Bourse. It will analyze companies’ management, strat......................

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