INVL Asset Management, a company of INVL Group that currently holds 51% of the shares in Mundus, will acquire the remaining shares from Mundus partners Audrius Mozūras and Martynas Grikinis
INVL to buy remaining stake in Mundus. (Credit: Sasun Bughdaryan on Unsplash)
INVL, an investment management and life insurance group in the Baltics, has agreed to acquire the remaining stake in the US-based asset management company Mundus.
The company currently holds 51% of the shares in Mundus, which manages the private debt fund Mundus Bridge Finance.
INVL Asset Management, a unit of the INVL Group, has signed the agreement to acquire the remaining shares from Mundus partners Audrius Mozūras and Martynas Grikinis, who own 24.5% each.
The completion of the transaction is subject to obtaining approvals from relevant authorities.
INVL Group private equity head Vytautas Plunksnis said: “We appreciate the work of Mundus partners and the entire team in the private debt market, and we are moving into a new phase of the company’s development. Following the transaction, private debt will become one of INVL Group’s strategic asset classes.”
INVL Asset Management has been holding a majority stake in Mundus since February 2018.
Mundus Bridge Finance is an open-ended investment fund that offers bridge financing to a wide range of projects and investments in companies operating in the alternative finance sector.
Launched in 2015, the private debt fund has already completed 18 transactions, and had assets under management of €26.8m, at the end of November 2022.
Mundus said that the transaction will enhance opportunities for value creation for existing and future investors of Mundus-managed investment funds in the private debt asset class.
Following the approval of the Bank of Lithuania, CoInvest Capital venture capital fund’s previous director Viktorija Vaitkevičienė will be appointed as the CEO, and Mozūras will leave the company.
Mundus Bridge Finance fund manager M Grikinis will continue in the same role.
Vaitkevičienė said: “The role of private debt in the region is constantly growing and rising base rates make this asset class very attractive for investors. Mundus experience and INVL Group’s leadership create an opportunity for sustainable development.”