Eurobank Global Fund

Eurobank EFG has obtained control of 72.5% of the share capital of GLOBAL FUND MANAGEMENT; the remaining 27.5% is held by Mr. Vasilis Karatzas.

The relevant agreement between Eurobank EFG and Mr. Karatzas on the one hand and GLOBAL FUND MANAGEMENT’s main shareholders Mr. Angelos Plakopitas and company GLOBAL FINANCE on the other, was concluded today.

GLOBAL FUND MANAGEMENT  is an investment services provider specializing in emerging markets. In particular, it manages GLOBAL NEW EUROPE FUND a portfolio investment company listed on the Athens Stock Exchange, which invests in the emerging markets of Europe and the Middle East.

Global New Europe Fund has assets of 75 million euros and return of 28.7% which is among the highest in this sector.

The company  intends to launch right away and manage a new hedge fund, the LEVANT FUND, focussing on the Turkish and Southeastern Mediterranean markets. Funds under management will mostly come from international institutional investors.

This acquisition is part of Eurobank EFG’s strategy aimed at strengthening its position in the asset management market in Greece, where it is already the leader with respect to total funds under management and at developing the asset management sector in the broader region of Southeastern Europe where it is already physically present through its banks, branch offices and subsidiaries.

Following GLOBAL FUND MANAGEMENT’s acquisition, founder Angelos Plakopitas will remain on GLOBAL NEW EUROPE FUND’s Investment Committee while Vasilis Karatzas will remain as the company’s Management Director, responsible for asset management and operations development.