“2023 was a successful and strategically important year for the
“While we take the current geopolitical situation extremely seriously, we are continuing with our efforts to the benefit of our investors as we seek to further strengthen our businesses and creating value for the geographies where we operate. In order to provide our client base with the diversification they need, we also invest a significant part of their money outside the region,” Šulnis adds.
Client assets under management by the companies of the group totalled
Invalda INVL’s revenue from the asset management business, i.e. the management of clients’ assets, was
“In 2023, we also completed an important strategic transaction to merge our long and successfully built retail investment management and life insurance business with Šiaulių Bankas. This will enable its clients to benefit from a product or service solution that is both convenient and creates optimal value-add for them now from a single source. We anticipate continued growth for this business moving forward, leading to an increase in the value of the Šiaulių Bankas share price. Given that our core asset management business is accounted for at a historical cost, the transaction captured a fair value for the retail business,” the CEO says.
“Following the completion of this transaction, we defined a growth and development strategy for the asset management group. This strategy incorporated targets including delivering returns in the top quartile for the funds under management as well as doubling the assets under management over the next 3 years to 2027. We also reinforced the
In 2023, the
The portfolio of the
The INVL Renewable Energy Fund I issued
The INVL Sustainable Timberland and Farmland Fund II entered a new geographic market with the acquisition of 1,400 hectares of forest land in
The acquisition of Mundus, a private debt fund management company, was completed in
The INVL Family Office continues its strong and successful growth trajectory, expanding its activities also beyond
Equity investments
Invalda INVL’s other equity investments, aside from investment management, had a
As a result of the retail business transaction as well as the successful activities of the group’s funds and the growth of Invalda INVL’s other balance sheet investments, in 2023 the group had a record profit of
“Invalda INVL’s performance last year was also positively influenced by the further growth in the value of the investment in
Maib, which earned a record profit last year, had a positive impact of
“After an especially good year in 2022, 2023 was rather challenging for Litagra, one of Lithuania’s largest agribusiness groups, due to unfavourable market conditions in the crop and dairy sectors, though we believe that as the cycle normalises, the group is poised for further growth and will deliver good results this year,” Darius Šulnis notes.
Litagra’s operating results had a (
“In 2024, we will continue to invest in a number of new opportunities as we look to further strengthen existing businesses and companies under management. We will also work on the exit from specific projects with the aim of maximising the value for our investors. Furthermore, we will expand the activities of the INVL Family Office, including the successful start of operations in both
“This year’s top priority is the launch of the INVL Private Equity Fund II. We are ready to be able to adapt to a number of challenging market conditions across multiple geographies, operating actively where we are now and seize new opportunities as they arise,” says the CEO of Invalda INVL.
The person authorized to provide additional information is:
Darius Sulnis, CEO of
E-mail Darius.Sulnis@invl.com
Attachments
- invaldainvl-2023-12-31-en
- INVL Invalda AR 2023 EN
Invalda INVL Group overview 31 12 2023
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