The Bank of Lithuania has granted the licence of a management company to this new player concerned with investment into real estate – “Kenova asset management”, UAB. In the fourth quarter of this year, the company intends to start with more than one specialized fund, which is meant for informed investors.
The investment strategy of the company is based on projects concerning both developed residential and commercial properties and investments. The planned yield of the funds is 15–20 percent.
“The experience and competencies of the team of the company’s managers allow us choose projects being implemented from scratch. I am certain that Lithuania will have prospective and solid properties that will generate returns throughout the expansion of the market and after it ends. Our chosen strategy demands more skills in analysing trends, forecasting changes and precisely structuring the financing, however, the final results, in comparison to investing in cashflow generating projects, is usually more beneficial for investors”, stressed Kęstutis Faktoravičius, the Manager of “Kenova asset management”.
Gintautas Galvanauskas – the former long-lived “Danske bank” Lithuanian Branch General Manager – manages the board of the company. Anatolijus Faktoravičius, one of the founders of the “Practica Capital” investment fund, also works there. The team core of “Kenova asset management” consists of specialists that together, have vast knowledge and experience in managing real estate projects, and are experienced real estate sellers.
“We did not make any compromises when we gathered together the specialists, which is why their competencies and experience cover all of the most important areas – starting from proper choice of the project, structure of financing, development and ending with a sale. Moreover, the company itself and its management team intend to invest into all acquired projects, and in this manner we shall share risk with the investors. For risk management we will also use conservative bank financing”, said K. Faktoravičius.
The first “Kenova asset management” fund has been planned to start in November.