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Tark Grunte Sutkiene Represents LV Asset Management AIFP and AB INVL Baltic Real Estate in Administrative Licensing and Registration Procedures

Tark Grunte Sutkiene Represents LV Asset Management AIFP and AB INVL Baltic Real Estate in Administrative Licensing and Registration Procedures

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Tark Grunte Sutkiene has successfully assisted LV Asset Management AIFP in its application for status as a registered alternative fund manager to Latvia's Financial and Capital Market Commission and AB INVL Baltic Real Estate on its transformation into a licensed Lithuanian special closed-end type investment company.

In the first matter, TGS's Latvian office advised LV Asset Management AIFP in its application for status as a registered alternative investment fund manager and its registration of the EverGreen Fund closed alternative investment fund with sub-funds EcoEnergy Subfund and  EcoShrimp Subfund.

According to a TGS press release, "the fund will make investments mainly in the share capitals of companies registered in Latvia and operating in the target industries – power industry and aquaculture."

TGS was represented in the project by Latvian Senior Associate Alise Eljasane and Associate Jekaterina Anohina. 

In the second matter, TGS's Lithuanian office advised AB INVL Baltic Real Estate on its transformation into a licensed special closed-end type investment company. The license and permits for the company were issued by the Bank of Lithuania at the end of December 2016. The Bank of Lithuania also approved the prospectus for admission of the shares of the company to trading on the NASDAQ OMX Vilnius stock exchange for their uninterrupted listing on the regulated market.

This is the first time in the Baltic States that an existing real estate investment company, with shares traded in public, was transformed into a licensed real estate investment company.

The Tark Grunte Sutkiene team in Lithuania was led by Partner Vidmantas Drizga, supported by Senior Associate Mantas Gofmanas and Associate Egle Mazetyte. The team advised the company on licensing, admission of shares to trading to the NASDAQ OMX Vilnius stock exchange, represented the interests of the company in the Bank of Lithuania and the Central Securities Depository of Lithuania, and performed other actions related to listing and licensing of the company.

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