INVL Baltic Sea Growth Fund (“the Fund”), leading private equity investment fund located in the Baltic region, is pleased to announce a renewed direction in the development of its environmental, social, and governance (“ESG”) operations. This initiative will further strengthen its overall commitment to achieving sustainability along with the continued creation of real long-term value add for its work force, key stakeholders, umbrella of portfolio companies and investor base respectively.
The Fund‘s commitment to ESG principles has been strengthened by the newly designed internal ESG procedures, following a recognition by the Fund‘s management team of the need to refine the procedures already in place to facilitate the practical implementation of an ever-evolving and improving ESG approach over time.
As part of this core initiative, several proprietary toolkits that cover both pre-investment assessment as well as post-investment monitoring stages have been developed. In addition, the Fund established the set-up of individual ESG key performance indicators (“KPIs”) as an essential part of value creation monitoring to all portfolio companies.
Deimante Korsakaite, Executive Partner at INVL Baltic Sea Growth Fund, commented: “We aim not only to deliver fundamental financial performance but are also committed to achieving it in a sustainable manner through positive contributions to our businesses, society as a whole and the environment. As the Fund’s management team, we strongly believe that private equity is well placed to promote the importance of ESG and lead by example, embracing this philosophy for the greater good. This commitment is therefore key in our approach to delivering sustainable long-term growth for our portfolio interests.”
The Fund‘s ESG progress will be publicly shared moving forward through annual ESG reporting, consisting of the Fund‘s ESG Index and portfolio companies’ ESG KPIs as well as the highlights of a selection of implemented ESG initiatives.
The Fund’s Annual ESG Report 2021 can be viewed in full by clicking here. The Fund’s efforts will remain to improve the reporting as time evolves.
About INVL Baltic Sea Growth Fund
INVL Baltic Sea Growth Fund with its total size of €165mn is one of the largest private equity funds in the Baltics with the European Investment Fund (“EIF”) acting as its anchor investor.
The EIF has committed €30mn with the support of the European Fund for Strategic Investments, a key element of the Investment Plan for Europe (or the ‘Junker Plan’), as well as allocating resources from the Baltic Innovation Fund, the “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia. This aims to increase capital investment in high growth potential small and medium-sized enterprises in the Baltic States.
The Fund seeks to assemble a diversified portfolio of companies, targeting majority or significant minority stake deals and writing tickets of €10mn to €30mn, that showcase high growth potential and the ability to compete on a truly global basis.
The Fund is focused on the Baltic States and the neighbouring regions of Poland, Scandinavia and Central Europe specifically. The Fund so far has invested in five companies within the healthcare, civil engineering, environmental management (plastic recycling and waste management) and cosmetics and hygiene products manufacturing sectors.
The Fund is managed by one of Lithuania’s leading asset management companies INVL Asset Management, which is part of the Invalda INVL group.
About INVL Asset Management
INVL Asset Management is part of the Invalda INVL, one of the leading asset management groups in the Baltic region. The group’s companies manage pension and mutual funds, alternative investments, individual portfolios, private equity assets, and other financial instruments.
Over 260,000 clients in Lithuania and Latvia and international investors at the end of 2021 have entrusted the group with more than €1.6bn of assets under management. Active since 1991 and with a solid track record, Invalda INVL boasts 30 years’ worth of experience in managing private equity assets in the Baltic countries and CEE landscape while developing companies into best-in-class market leaders.