INVL Asset Management acquires 51 per cent of asset management company Mundus

INVL Asset Management, one of Lithuania’s leading asset management companies, has acquired a controlling stake in the asset management company Mundus and owns 51 per cent its shares. The transaction, for which the Bank of Lithuania granted permission on 22 January, was completed on 2 February. The remaining 49 per cent of shares are held in equal parts by Mundus founders Martynas Grikinis and Audrius Mozūras. The size of the transaction is not public.

“Having closed this deal, we’re starting active work with a new type of investment services – private debt products. By combining our own and Mundus’s experience, we aim to create one of the leading players in the Baltics in the private debt product category,” said Andrej Cyba, Chief Business Development Officer at INVL Asset Management.

On completion of the transaction, a new management board was appointed at Mundus. It is composed of INVL Asset Management representatives Andrej Cyba and Audrius Matikiūnas, whose appointment to the board the Bank of Lithuania approved on 23 January, as well as Martynas Grikinis and Audrius Mozūras.

“The private debt market in the Baltics is developing rapidly and offers new opportunities for corporate finance projects. We hope together with INVL Asset Management to improve on existing solutions for investors and develop new ones, taking advantage of the market’s potential and collaboration opportunities,” said Martynas Grikinis, a Partner at the Mundus asset management company.

Mundus manages the Mundus Bridge Finance Fund, an open-ended risk capital fund for informed investors which seeks to generate a long-term stable return by investing in private debt securities of fast growing alternative finance companies.

The fund’s team actively contributes to the management of target companies while ensuring for the fund’s liquidity needs with short-term financial instruments. As of the end of January 2018, the fund’s assets under management were more than EUR 14.5 million.

INVL Asset Management is part of the Invalda INVL group, whose companies manage pension and mutual funds, alternative investments, private equity assets, individual portfolios and other financial instruments. More than 185 000 clients in Lithuania and Latvia as well as international investors have entrusted them with over EUR 575 million of assets.