nvalda LT Investments, a company of Invalda LT, one of the major Lithuanian investment companies, applied for the asset management company license issued by the Bank of Lithuania. The license will grant the right to manage private equity, real estate and investment funds.
“We manage assets of Invalda LT shareholders since 1991. Therefore, we believe that this experience and achieved results allow us to expect earning high returns and getting trust of both present shareholders of Invalda LT and new clients”, – Darius Sulnis, the director of Invalda LT Investments and the president of Invalda LT, said.
It is planned to split-off agricultural land, real estate and information technologies (IT) companies from Invalda LT. These companies will apply for investment company licenses and will be similar to closed-end funds. In the beginning of its activity Invalda LT Investments will manage the above mentioned split-off companies INVL Baltic Farmland, INVL Baltic Real Estate and INVL Technology, and later will start new private equity funds.
According to Mr. Sulnis, the licensed management company will allow Invalda LT to work according to worldwide used asset management model and the supervision of the Bank of Lithuania will increase safety of investments.
The capitalisation of Invalda LT is about LTL 250 million (EUR 71.5 million) and the company owns 100 % of Invalda LT Investments shares. The share capital of Invalda LT Investments amounts to LTL 1.381 million (EUR 400 thousand).