INVL Asset Management establishes closed-end investment fund

INVL Asset Management, one of Lithuania’s leading asset management companies, has established a new closed-end investment fund intended for informed investors, the INVL Alternative Assets Umbrella Fund II, and its first subfund, the INVL Partner Energy and Infrastructure Fund. They began operations after the Bank of Lithuania approved the fund rules on 20 November this year.

The INVL Partner Energy and Infrastructure Fund will operate as a closed-end collective investment undertaking that invests essentially all of its assets in the Energy and Infrastructure SME Fund, a closed-end investment fund intended for informed investors which is managed by Lords LB Asset Management.

Units of the INVL Partner Energy and Infrastructure Fundwill be distributed by INVL Finasta FMĮ. The fund will not be offered publicly.

“Due to their risk and return characteristics, infrastructure and energy projects can find a place in informed investors’ portfolios. In those asset class categories where we don’t have our own products, we offer the chance to invest in partners’ funds. For our part, by managing the new fund, we’ll represent the interests of those invested in it,” said Vytautas Plunksnis, Head of Private Equity Funds at INVL Asset Management.

“In investing in infrastructure and energy projects, we seek the reduced sensitivity to economic cycles and the sustainability over a longer investment period that are characteristic of this sector. With our team actively involved in management, along with these objectives we’ll also be able to contribute to growth in the value of the companies in the portfolio. We appreciate INVL Asset Management’s show of trust,” said Domas Kačinskas, the CEO of Lords LB Asset Management.

The closed-end Energy and Infrastructure SME Fund has operated since July 2016. The fund has a term of eight years. In August this year it acquired the Central European operator of parking facilities City Parking Group, which is active in Poland, the Czech Republic and Slovakia. Prior to that the fund has invested in renewable energy and public-private partnership projects in Lithuania. It is also assessing potential investments in Latvia and Estonia.

Lords LB Asset Management is an investment management company licensed by the Bank of Lithuania which has been serving institutional and private investors since 2008. The company manages a total of 14 funds: nine real estate funds, three private equity funds and two energy and infrastructure funds. The funds’ total assets under management at the end of June 2017 was 330 million euros.

INVL Asset Management is part of Invalda INVL, one of the leading asset management groups in the Baltic region. Companies in the group manage pension and mutual funds, alternative investments, private equity assets, individual portfolios and other financial instruments. More than 180 000 clients in Lithuania and Latvia as well as international investors have entrusted them with assets of over 540 million euros.