INVL Special Opportunities Fund

Legal fund sub-fund of INVL Alternative Assets Umbrella Fund, a closed-ended composite investment fund for informed investors
Management company UAB „INVL Asset Management“
Sector investment in shares of Moldova-Agroindbank (MAIB)
Start of operation 24 July 2018

INVL Special Opportunities Fund has indirectly invested in the stock of Moldova-Agroindbank (MAIB), the largest bank in Moldova. The sub-fund started its activities on 24 July 2018.

The size of the fund is €4.5 million. The minimum investment in the fund was €200,000, and the maximum – €500,000.

On 2 October 2018, an international consortium, which includes the European Bank for Reconstruction and Development (EBRD), Invalda INVL and Horizon Capital and which acts via UK-based company HEIM Partners, won an auction for the sale of stake in Moldova-Agroindbank (MAIB), Moldova’s largest commercial bank. For 41.09% of the MAIB shares HEIM Partners offered MDL 451.533 million (€23.031 million).

Lithuanian based MD Partners and EBRD each owns 37.5% of the shares in HEIM Partners, while the private equity manager Horizon Capital holds 25%.

INVL Special Opportunities Fund owns 48.63% of shares in MD Partners, while Invalda INVL – 51.37%.

Moldova-Agroindbank is the largest commercial bank in Moldova. Its assets at the end of 2019 amounted to €1.3 billion, and equity to €229 million.