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TGS Baltic and Sorainen Facilitate INVL Asset Management Acquisition of Shares in SEB Venture Capital Funds

TGS Baltic and Sorainen Facilitate INVL Asset Management Acquisition of Shares in SEB Venture Capital Funds

Lithuania
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TGS Baltic has represented UAB INVL Asset Management and funds managed by it on the acquisition of shares in Lithuania SME Fund and BaltCap Latvia Venture Capital Fund from UAB SEB Venture Capital. Sorainen advised the sellers on the deal.

UAB INVL Asset Management is a Lithuanian asset management company managing pension funds, investment funds, and private equity and investment portfolios. According to TGS Baltic, "the company manages four pension funds of the 2nd pillar and four pension funds of the 3rd pillar. On June 30, 2016, funds managed by UAB INVL Asset Management had the most participants in Lithuania (over 6,200 participants) and the company held 46.73 percent of the funds market. Investment funds managed by UAB INVL Asset Management are offered in Lithuania, Scandinavian countries, and Germany. Companies of this group manage pension and investment funds, alternative investments, individual portfolios, private equity and other financial instruments. Assets under their management are worth EUR 340 million, they belong to over 150,000 clients in Lithuania and Latvia and to international investors. Assets managed by the investment funds of the company amounted to EUR 41.2 million as on June 27, 2016."

According to TGS Baltic, its services on the deal "included preparation and approval of the framework share purchase agreement, preparation of the new Lithuania SME Fund operational agreement and other documents in connection with the change, representing the fund and investors in the Register of Legal Entities, coordination of actions regarding the Latvian fund, etc."

The TGS Baltic team was led by Partner Vidmantas Drizga, supported by Senior Associate Mantas Gofmanas.

The Sorainen team advising SEB Venture Capital in the transaction was led by Counsel Mantas Petkevicius.

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COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

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COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

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