Ahead of the investment curve in the Balkans
By Oonagh Leighton
Peter Elam Håkansson has had a long love affair with the countries of central and southeast Europe. He says that reading about the history of the region sparked his initial interest. When the Berlin Wall came down in 1989 he packed a few belongings and went to explore these countries. What he saw there excited him and he immediately recognized the investment opportunities. Returning from holiday he began to ponder the ways of getting more involved in the region. At that time he was working as global head of research at Enskilda Securities in Stockholm. Håkansson soon recognized that if he wanted to realize some of the potential of these markets he would have to move to focus purely on them. This led to the formation of East Capital Asset Management in November 1997, with Håkansson as a founding member. The company’s aim was to focus exclusively on eastern Europe and to offer specialized management and financial advisory services to financial and strategic investors in these markets.
Håkansson says that while travelling in the Balkans he has met some fascinating people. He says that running a successful company in the years of war and deprivation takes a certain kind of spirit and courage. His love of history and travel is reflected in the name of the latest Balkan vehicle, the East Capital Bering Balkan Fund. It is named after Vitus Bering, the Danish captain commissioned in 1725 by Peter the Great to explore East Siberia.
Over the years Håkansson has lost little of his enthusiasm for the region. In the firm’s latest newsletter, written on a flight from Bucharest to Paris in July, he ends by wishing his readers a pleasant summer holiday and encouraging them to take their vacation in the region. There, he suggests, they can see the growth and possibilities in the region at first hand.
