EBRD invests US$1mn in Estonian private pension fund management company

In a move to develop the Estonian pensions market, the European Bank for Reconstruction and Development (EBRD) is paying EKr16.5mn (US$1mn) for a 35% share in Lõhmus, Haavel & Viisemann Asset Management (LHV AM), a private pension fund management company currently owned by investment bank Lõhmus, Haavel & Viisemann. The investment reflects the EBRD’s new strategy of investing in non-bank financial institutions in the region