Vilnius, Lithuania, 2018-01-23 16:01 CET (GLOBE NEWSWIRE) --
INVL Asset Management, one of Lithuania's leading asset management companies,
will acquire a controlling stake in the asset management company Mundus and
after the transaction will hold 51 per cent of that company's shares. The
remaining 49 per cent of shares will be held in equal parts by the company's
founders Martynas Grikinis and Audrius Mozuras. The Bank of Lithuania on 22
January granted permission for the transaction, completion of which is planned
in the near future. The size of the transaction is not public.
"With this new acquisition we seek to further actively broaden our range of
investment services and enter the private debt product category. This asset
class, which is less risky than stocks but shows attractive risk and return
characteristics, can find a place for itself in investors' portfolios. Our goal
is, by uniting our own and Mundus's experience, 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.
It is planned that two representatives of INVL Asset Management, A.Cyba and
Audrius Matikiunas, will join the company's board.
"This deal is recognition of the Mundus team's performance results and
competencies. We believe that by working together with the Invalda INVL group
we'll not only broaden our fund management experience but also be able to
dedicate more resources to seeking new solutions for investors," said Martynas
Grikinis, a Partner at the Mundus asset management company.
Mundus operates 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 2017, the fund's assets under management were
more than EUR 13.7 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 managing over EUR 575 million of assets
The person authorised to provide additional information:
Andrej Cyba
Chief Business Development Officer at INVL Asset Managemen
E-mail andrej.cyba@invl.com© 2018 GlobeNewswire
