Hedge Funds

Pharos Investments Ltd.

Launched in 1997, this flagship emerging markets hedge fund focused on equity, debt, derivatives, and currencies in the Former Soviet Union. Consistently outperformed benchmarks, ranked a global top-15 performer by Bloomberg in 2008, and returned capital to investors in 2012.

Pharos Small Cap Fund Ltd.

Research-oriented strategy targeting high-growth smaller companies in the Former Soviet Union. The fund returned capital to investors in 2012.

Pharos Gas Investment Fund Ltd.

Hedge fund strategy capitalizing on Eurasian natural gas opportunities. Ranked a Bloomberg global top-10 performer in 2006. The fund returned capital to investors in 2012.