The close-ended real estate investment fund Lords LB Special Fund II, managed by Lords LB Asset Management, has successfully completed its operations and was closed by decision of the Bank of Lithuania. The Fund’s average annual return for investors equals 22.5%.
Terseta UAB, a company owned by investment management company Lords LB Asset Management’s Lords LB Baltic Fund IV, borrowed EUR 8 million euros on the bond market. The bonds were issued with 18 months maturity at an annual interest rate of 6%.
Outstanding international capital and financial markets magazine Euromoney has ranked Lords LB Asset Management as the best investment manager in Lithuania in 2020. Company has retained its leadership position as the best investment manager in the country and has earned the award for the second time.
At end of July, implementation of the first phase of the Press House Quarter project will start. This includes the rebuilding of the historic Press House building. Before the start of building work, media representative had the chance to document the Press House’s indoor premises for the last time.
The European Investment Bank (EIB) has signed today its first loan to a company building and running photovoltaic plants in Poland. The EU bank will lend PLN 82m (around EUR 18m) to Energy Solar Projekty sp.z o.o. for the construction and operation of 66 small-scale, independent photovoltaic (PV) plants. With an average nominal capacity for each plant of less or equal than 1 MW, the total capacity will reach about 65,6 MW. This is the equivalent of 19,000 households, which could be supplied with the energy generated by the project.
The Riga City Construction Board has issued a building permit for the construction of the 1st phase of the new Preses Nams quarter. In the first development phase of the project, a modern Class A office centre is planned to be built, as well as a commercial area with the first rooftop football field in the Baltics and a Holiday Inn hotel, which will be the first InterContinental Hotels Group (IHG) hotel in Latvia.
The Paris-based Eiffel Energy Transition Fund has signed a bond subscription agreement with JSC Atsinaujinancios energetikos investicijos for a private ordinary bond emission of more than EUR 30m. The company is a subsidiary of the Energy and Infrastructure SME Fund, which is managed by Lords LB Asset Management.
Subsidiary of Parkdema, managed by Energy and Infrastructure SME Fund, has acquired parking operator SIA EuroPark Latvia.
The Bank of Lithuania approved changes in the management of investment management company Lords LB Asset Management as it is expanding the scope of its Funds’ activities.
Holiday Inn, the largest hotel brand in the world, is targeted to open in Latvia’s capital Riga, in September 2022 in the former iconic Preses Nams building in the heart of the city.
On June 7
th it was announced that company Terseta, owned by the investment property fund Lords LB Baltic Fund IV, won a tender for the acquisition of state-controlled energy holding Lietuvos Energija main office. For the buildings of 16,000 square meters on Žvejų str. in Vilnius the Fund offered 23,903,550 EUR (incl. VAT).
Aidas Ignatavičius has joined the investment management company Lords LB Asset Management as the manager of Energy and Infrastructure SME as well as Energy Infrastructure Baltic Fund funds.
In December, retail chain PEPCO will open store in the shopping center operating on Dariaus and Gireno str. 3A, in Marijampole. This will be the first store in Lithuania for the chain, which currently operates more than 1200 stores in several Central European countries.
The asset management company INVL Asset Management established a fund, INVL Alternative Assets Umbrella Fund II, the first sub-fund of which, INVL Partner Energy and Infrastructure Fund, will invest all the assets into the fund intended for informed investors Energy and Infrastructure SME Fund managed by Lords LB Asset Management.
Telia establishes a group service centre in Vilnius, with the ability to grow and serve Telia Company group with a variety of global services – from IT and technology to sourcing and other internal services. The service centre will be based in the k29 business centre on Konstitucijos avenue.
In July Lords LB Special Fund V, real estate investment fund managed by the investment management company Lords LB Asset Management, acquired the building of the former Press Chamber in Riga. An international council of six supervisors, which will be managed by investor and former Ukrainian Minister of Economy Aivaras Abromavičius, was elected for the development of this project.
On August 22, Lords LB Baltic Fund IV, real estate investment fund managed by the investment management company Lords LB Asset Management, signed a purchase agreement for the shopping centre GO9. The building of more than 12,000 square meters located on Vilnius Gedimino Avenue accommodates fashion store H&M, bookstore Vaga and supermarket RIMI among others.
Energy and Infrastructure SME Fund, managed by Lords LB Asset Management, Lithuania based fund management company, announced that it has acquired 100 percent of shares of City Parking Group S.A. from Royalton Capital Investors II L.P., a private equity fund.
Swedbank in Lithuania has agreed with JSC Investmira, a subsidiary of Lords LB Special Fund I, a fund , managed by Lords LB Asset Management, on a EUR 30 million long term financing. The loan will finance the construction of a multifunctional complex in Konstitucijos av. in Vilnius, comprised of A class business center and a Radisson RED hotel, the first in the region. The complex was designed by D. Libeskind, one of the most renowned architects in the world.
Lords LB Special Fund V of the Lithuanian investment management company Lords LB Asset Management is going to invest more than 200 million euros into the territory of former Press Chamber in Riga that was acquired for 16.8 million euros from Latvian Shipping Company, owned by Vitol. That will be the largest office space development project in the Baltics and one of first steps of the company’s expansion in the region.
The office building ‘k29’ situated on Konstitucijos avenue, in the capital of Lithuania, received the highest evaluation for the harmony with the surroundings in the Baltic States. The building was granted Excellent BREEAM In-Use certificate. So far it is the first and the only building holding this type of certificate in the Baltic States.
On 25 April, the largest and most modern centre of pet products Dino Zoo in Eastern Europe was opened at the shopping centre Krasta 52, in Riga. The largest indoor trampoline centre in Latvia – Jump Space and the centre of building and finishing materials Kurši have already been opened in the centre.
A new fund manager Jonas Kimontas joined the team of investment management company “Lords LB Asset Management”. He started to manage the funds of “Energy and Infrastructure SME”, “Energy and Infrastructure Baltic Fund” and “Lords LB Private Equity Fund III” from January 2017.
At the competition of the best RE project ‘For Sustained Development’ organised by the Lithuanian Real Estate Development Association (LNTPA) for the tenth year in Lithuania, the commission recognised the k29 office complex at Konstitucijos avenue, in the capital city, as the best commercial project. Building managers and architects emphasise that harmony with nature and people was in the main focus from the very beginning of the project.
In the end of October, Energy and Infrastructure SME Fund controlled by investment management Lords LB Asset Management acquired Čiurlionio tiltas, JSC from Hidrostatyba company, which controls the concession of design, construction and operation of the transport node on the left access to M. K. Čiurlionis Bridge. In the next 16 years, the investment fund will participate in this project, while Hidrostatyba will continue carrying out its maintenance and operation.
On 6 December, Vilnius City Notary Bureau No. 32 moved to the k29 office complex situated in the centre of Vilnius. The notary bureau joins the companies, such as: Nasdaq, AIG, KPMG, Seesam, and others having their offices in the building situated at Konstitucijos avenue.
On 11 November, real estate investment fund Lords LB Baltic Fund IV acquired the third object – a complex of offices EU House. The building situated in the very heart of Tallinn houses the representative offices of the European Commission and of the European Parliament, audit company EY, law firm Lextal, etc. However, it is not the last purchase of the Fund in the Baltic capital cities.
th of October, closed-end real estate investment fund Lords LB Baltic Fund I ceased its activities. During the whole business period of seven years, the fund repaid the total invested amount and earned profit to the investors. Those who invested into the fund from its business commencement earned the return of over 11 per cent annual interest.
Rezidor, one of the most dynamic hotel groups worldwide and a member of the Carlson Rezidor Hotel Group, is proud to announce the signing of the first Radisson RED in the Baltics, Russia & CIS region. The hotel will be in Vilnius city center, next door to the existing Radisson Blu Lietuva hotel and only a short walk from the historical Old Town. The around 200 room Radisson RED Vilnius is expected to open its doors by early 2020.
The Bank of Lithuania has approved the rules of Energy and Infrastructure SME Fund, established by Lords LB Asset Management. The fund will specialise in investments in energy and infrastructure projects in the Baltic countries. This is a closed-end fund intended for informed investors.
The Supervision Service of the Bank of Lithuania has approved the rules of Lords LB Special Fund IV, a real estate investment fund to be established by UAB Lords LB Asset Management. This is a closed-end fund intended for informed investors.
Jan Litborn has been elected as the Chairman of the Board of investment management company Lords LB Asset Management. In addition to Litborn, a partner with Swedish law firm Glimstedt, the Board also includes three shareholders of Lords LB Asset Management, namely Mindaugas Marcinkevičius, Andrius Stonkus and Antanas Vainauskas, as well as Domas Kačinskas, the director of Lords LB Asset Management. All the members of the Board have been approved by the Bank of Lithuania.
The Board took office on 4 January, with the term of office scheduled to expire in December 2019.
Architectural solutions for a multifunctional complex, k18B, were presented by participants in an international architectural competition at the k29 business centre in Vilnius. The winner of the two-month competition, which involves ten prominent architectural firms from Lithuania and from around the world, will be announced on 29 April.
Investment management company Lords LB Asset Management is to establish two new closed-end informed investor-oriented real estate investment funds, Lords LB Special Fund II and Lords LB Special Fund III. The Supervision Service of the Bank of Lithuania has approved the rules of these funds.
Lords LB Baltic Fund IV operated by investment management company Lords LB Asset Management has completed the transaction for the acquisition of the Comfort Hotel LT – Rock’n’roll Vilnius hotel in the Lithuanian capital. After receiving permission from the Competition Council, the Fund has acquired a 100% shareholding in UAB Eicore, the hotel operator, from Norwegian investment fund Selvaag.
An international competition has been launched to select an architect for a new office and hotel complex to be built on Konstitucijos Avenue. It is organised by the Lithuanian Union of Architects, Vilnius City Municipality and investment management company Lords LB Asset Management. The organisers expect the best architectural ideas to adorn the modern centre of Vilnius and contribute to the efforts to make the capital city comfortable for Vilnius residents and attractive to investors.
Lords LB Baltic Fund IV operated by investment management company Lords LB Asset Management is to acquire the Comfort Hotel LT – Rock’n’roll Vilnius hotel in the Lithuanian capital. The Fund will purchase a 100% shareholding in UAB Eicore which owns the hotel. UAB Eicore is currently controlled by Norwegian fund Selvaag Eastern European Development.
NP Logistics has expanded its rented area at the Bergi logistics centre operated by investment fund Lords LB Baltic Fund III. The company provides logistics services to Laima, Latvia’s leading producer of confectionery.
The total area rented by NP Logistics has increased from previous 10,000 square metres to almost 15,000 square metres. The installation of the necessary equipment on the new rented premises will soon be completed, with warehousing operations to be launched in February.
Having examined the application of Lords LB Asset Management and related material, the Supervision Service of the Bank of Lithuania has declared null and void the rules of Lords LB Baltic Fund II, a closed-end special real estate investment fund managed by this company.
Lords LB Baltic Fund II is the second successfully closed investment fund managed by investment management company Lords LB Asset Management. This Fund has invested EUR 32 million in the development of business centre k29. The four-year k29 development stage is over, so the Fund is now being closed. Both foreign and Lithuanian institutional and private investors invested in the Fund. Annual returns for investors reached 23.63%.
Lords LB Asset Management has established Lithuania‘s first fund that will specialise in investments in energy and infrastructure projects in Lithuania, Latvia and Estonia. The Baltic Energy and Infrastructure Fund (BEIF) is expected to accumulate EUR 200m in assets under management within three years.
The last tenants moved in to the new k29 business centre located at Konstitucijos pr. 29, Vilnius thus wrapping up the k29 development stage. Lords LB Baltic Fund II of investment management company Lords LB Asset Management invested EUR 32 million in this project. Part of the investment was financed by the Fund from its own resources and the other part was a loan granted by Lithuania’s largest commercial bank SEB bankas. The development of the entire project took more than four years.
The Board of investment management company Lords LB Asset Management has decided to extend the Lords LB Baltic Fund III investment and distribution period to 31 May 2016. The Bank of Lithuania has green-lighted the amendment of the Rules of the Fund providing for this new term of the distribution phase.
The market value of the fund assets managed by investment management company Lords LB Asset Management has reached EUR 233.4 million, with the net asset value amounting to EUR 117.05 million.
Investment management company Lords LB Asset Management has launched an
Užupio vartai project to build a new residential housing complex in Vilnius, Užupis, 2 Polocko St. The project is unique in that part of the building will be reconstructed while preserving the classical architectural elements of the façade and the other part will be new construction. The company intends to invest over EUR 5.5 million in the complex.
Real estate investment fund Lords LB Special Fund I is to build a class A office business centre on a 64-are land plot on Konstitucijos Avenue in Vilnius. The Fund plans to invest over EUR 40 million in the development of the new building.
A closed-end special real estate investment fund has closed down its operations for the first time in Lithuania: Lords LB Opportunity Fund I has paid the investors the whole amount invested and the profit earned, a total of almost EUR 4 million. In the wake of the expiry of the term of the Fund, its assets were sold and the investors were paid. The Supervisory Service of the Bank of Lithuania has approved the closure of the Fund.
We’re delighted to announce the launch of our new website. After several years of faithful service, we thought it was finally time to retire the old site and replace it with a slicker, more advanced website.
Lords LB Asset Management has been granted permission by the Bank of Lithuania to form two closed-end real estate investment funds, Lords LB Baltic Fund IV and Lords LB Baltic Small Cap Fund. For more information read
Lords LB Asset Management gets regulatory approval for the purchase of “Mandarinas” shopping centre from Citycon. For more information read
On the 4th of February, 2014 the SPV UAB “Stotema” owned by the closed-end real estate investment fund Lords LB Opportunity Fund II acquired a residential RE development asset in Druskininkai, Šv. Jokūbo str. 1.
2014 m. sausio 6 d. u
ždaro tipo nekilnojamojo turto investiciniam fondui „Lords LB Opportunity Fund II“ priklausanti įmonė UAB „Parko gama“ įsigijo nekilnojamojo turto vystymo objektą Polocko g. 2, Vilnius.
On the 5
th of December 2013 the Board of the Bank of Lithuania decided to supplement the activity license of UAB “Lords LB Asset Management” by granting the right to manage the collective investment undertakings intended for the informed investors.
Phone No.: +370 5 261 94 70
Address:Jogailos str. 4, LT-01116 Vilnius, Lithuania
Since 2015 Lords LB Asset Management has been committed to the UN Global Compact corporate responsibility initiative and its principles in the areas of human rights, labor, the environment, and anti-corruption.
UAB “Lords LB Asset Management” (hereafter – Management company) is licensed and supervised by Bank of Lithuania as financial institution. If not explicitly stated overwise, information on Management company website is only for informational purpose and should not be considered neither as an advise nor a recommendation to invest.