INVL Special Opportunities Fund

Legal form Sub-Fund of INVL Alternative Assets Umbrella Fund, a closed-ended composite investment fund for informed investors
Management company INVL Asset Management, UAB
Sector Investment in shares of Moldova-Agroindbank (MAIB)
Start of operation 24 July 2018
Fund unit distributor INVL Financial Advisors, FMĮ UAB (the distribution of fund units are completed)

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 Sub-Fund is €4.5 million. The minimum investment in the Sub-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 €2.1 billion, and equity to €325 million.

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