INVL, the leading investment management and life insurance group in the Baltics, has signed an agreement to acquire the remaining shares in Mundus, an asset management company managing a private debt fund. The shares will be purchased from Mundus partners Audrius Mozūras and Martynas Grikinis.
“We appreciate the work of Mundus partners and the entire team in the private debt market, and we are moving into a new phase of the company’s development. Following the transaction, private debt will become one of INVL Group’s strategic asset classes”, says Vytautas Plunksnis, Head of Private Equity at INVL Group.
According to Mundus partner M. Grikinis, this consolidation is an organic and welcome step, which will undoubtedly provide even more opportunities for value creation for existing and future investors of Mundus managed investment fund in the private debt asset class.
INVL Asset Management, a company of the INVL Group, that signed the agreement to acquire the remaining shares, currently holds 51% of the shares in Mundus, which manages the private debt fund Mundus Bridge Finance. Mr Mozūras and Mr Grikinis each own 24.5% of Mundus.
The transaction will be completed after obtaining the approvals of the relevant authorities.
The management of Mundus changes as well. Following the approval of the Bank of Lithuania, Viktorija Vaitkevičienė, who was previously a director of the venture capital fund CoInvest Capital, will become the CEO of this asset management company. She will replace A. Mozūras, who will leave the company. M. Grikinis, the fund manager of Mundus Bridge Finance, will continue to be active in the company.
“The role of private debt in the region is constantly growing and rising base rates make this asset class very attractive for investors. Mundus experience and INVL Group’s leadership create an opportunity for sustainable development,” says Vaitkevičienė.
Mundus Bridge Finance, an open-ended investment fund for informed investors, seeks long-term stable returns by providing bridge financing to a wide range of projects and investing in private placement debt securities of companies in the fast-growing alternative finance sector. The Private Debt Fund has already completed 18 transactions since its launch in 2015.
At the end of November 2022, Mundus Bridge Finance had assets under management of EUR 26.8 million.
INVL Asset Management has held a majority stake in Mundus since February 2018.
About INVL
INVL is the leading investment management and life insurance group in the Baltic region. Its companies manage pension and mutual funds and life insurance directions, individual portfolios, private equity, and other alternative investments. Over 300,000 clients in Lithuania, Latvia and Estonia and international investors have entrusted the group’s companies with the management of more than EUR 1.75 billion of assets. In the business more than 30 years now, the group has solid experience in managing private equity assets and building market players that are leaders in their respective fields in the Baltic countries and Central and Eastern Europe.