Romanian shareholders and managers are suspicious and they lack the trust in others, East Capital representatives say, also suggesting an explanation. The attitude, they say, “might be caused by the poor investments culture, but also depends on the way and rhythm of reforms towards a capitalist economy”.

Investment companies that conduct local businesses face the shareholders’ lack of trust, most of them seeing the investment fund as a necessary partner.

“We have to explain to them that a fund doesn’t come only with the business development funds, but also with its expertise. We first have to earn their trust to cooperate in building financial analysis and getting to know their company”, says Karine Hirn, East Capital’s Managing Director.