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. Last Updated: 07/27/2016

Sector Capital Joins EPIC

One of Russia's leading investment banks, Sector Capital, said Thursday it had joined forces with the Austrian-based European Privatization and Investment Co., or EPIC, to launch a new $200 million direct investment fund.

EPIC increased its stake in the Russian company to 76 percent. The new company will be called EPIC Russia and will be part of the Australian group's network of companies in 13 Central and East European countries.

"This gives us an opportunity to represent Russian companies interested in getting involved in ... East European countries," said Jack Barbanel, president of EPIC Russia.

The new $200 million direct investment fund will target medium- and large-scale enterprises in Russia and Ukraine, Barbanel said.