Orion Asset Management private equity fund successfully raised 10 million euros during its first fundraising stage and is launching its activities
UAB “Orion Asset Management” – one of the top Lithuanian asset management companies announced that it has successfully completed the initial fundraising stage of the private equity fund ORION Private Equity Fund I intended for private investors only.
The fund intends to invest into small and medium-sized companies in the Baltic region which have a good business model and clear development opportunities. ORION Private Equity Fund I will aim to acquire minority or majority shareholdings of the target companies (34-67%). It is estimated that the fund‘s portfolio will comprise 5 to 8 companies.
“The fund has completed its first fundraising stage during which investors and financing partners undertook to invest 10 million euros. The fund is ready to acquire its first companies, however, at the same time, we will also continue negotiations with additional investors until we reach the maximum planned amount of 15 million euros” – says Ramūnas Baranauskas, CEO at UAB Orion Asset Management.
Skirmantas Miliauskas, Fund Manager of ORION Private Equity Fund I did not reveal specific investment targets.
“We are searching for and analysing potential acquisitions in Lithuania, Latvia and Estonia. We are targeting well-known trade and services providers, health care related companies, services providers to infrastructure related industries, export oriented production companies that can propose its clients a higher added value”, – says S. Miliauskas. – We are estimating that ORION Private Equity Fund I will sign its first investment agreements by the end of this year and will invest up to 2.5 million euros into a single project”.
Saulius Garbaravičius, chairman of the board at UAB Orion Asset Management, points out that the launch of the fund refutes the belief prevailing in the country’s financial market regarding necessity of state or EU financial institutions administered funds required to start a new private equity fund.
“This fund is the first private capital fund dedicated for small and medium-sized companies whose first stage investors do not include funds administered by state or EU financial institutions. The fundraising process has revealed that the local capital market is already mature enough for private capital investments. There was a clear interest among private investors”, – says S. Garbaravičius, Chairman of the Board of Orion Asset Management.
Audrius Bendaravičius, who has over 20 years of experience working in one of the top Baltic holdings the Achemos Grupė and its former CEO, became the chairman of the fund’s investment committee. Currently, A. Bendaravičius manages furniture companies’ group in the SBA concern.
“We are mostly interested in companies which could significantly grow if they are provided with both required financial resources and our accumulated management experience in order to achieve efficiency, developing access to export markets, as well as modernizing and optimizing their business processes. The aim of the fund is to develop and significantly increase the value of the companies in order to become attractive investment opportunities for large enterprises operating at a regional level”, says A. Bendaravičius.
For additional information please contact:
Manager of Orion Private Equity Fund
Brief information about UAB Orion Asset Management:
Orion Asset Management is one of the most experienced asset management companies in Lithuania. The company entered the Lithuanian market in 2000 as UAB Investicijų portfelių valdymas. Its core business is the management of customer assets and investment funds.
Currently, the value of assets managed by the company exceeds 83 million euros. The company manages 17 investment funds with over 650 investors from more than ten countries.