Baltic, Financial Services, Funds, Good for Business, Investments, Lithuania

An initial offering of the fund raised 32.45 mln euros from private investors, with the target size standing at 100 mln euros,

The fund will invest in sustainably managed forests and agricultural land in the Baltic Sea region and Central and Eastern Europe INVL said in a statement.

"We see this fund as a continuation of the INVL Baltic Forests Fund I which started in 2017, but more universal and much broader in geography," Vytautas Plunksnis, head of private equity at INVL Asset Management, says.

The fund will invest in Baltic coniferous forests and agricultural land with a high level of productivity and big consolidation potential. Later, it plans to expand the portfolio in Eastern EU countries where investment returns are attractive and the regulatory environment is stable.

The new INVL fund is registered in Luxembourg and is administered by Apex Group, one of the biggest providers of fund services in Europe. The SFALF II is intended for institutional and private investors from EU countries.

Currently the fund is not registered for public distribution in the Republic of Lithuania.