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Fundraising - SEPTEMBER 22, 2022

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Two funds managed by EfTEN Capital complete merger

by Kali Persall

EfTEN Real Estate Fund III, a public closed alternative investment fund that invests in cash flow generating commercial properties in Baltic states, has acquired the EfTEN Kinnisvarafond fund via a merger agreement. Both funds are managed by EfTEN Capital.

The merger was initially planned in 2020 but was postponed due to the spread of COVID-19 in Estonia. After analyzing the results of the funds' business activities, loan portfolios, assets and equity volumes, the merging funds’ management boards said the merger of the two funds is in the long-term interests of the shareholders of both funds and thus decided now was an appropriate time to merge the funds.

Following the merger, the resulting fund will have around €370 million ($366 million) worth of assets, including 35 commercial properties across the Baltic states.

The opportunistic and value-adding investment strategy of EfTEN Kinnisvarafond is identical to the investment strategy of EfTEN Real Estate Fund

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