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Published: 5 february 2020 13:46

Lords LB Asset Management fund attracts investment by Edmond de Rothschild Asset Management

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Edmond de Rothschild Asset Management, one of Europe’s largest investment houses, has entered the Baltic market. Edmond de Rothschild Asset Management fund, BRIDGE, has acquired bonds issued by Parkdema, a company that Lords LB Asset Management’s fund Energy and Infrastructure SME Fund owns jointly with Modus group, for more than 27 million euros.

The purchase of the bonds with a 6-year maturity marks the first time a fund managed by Edmond de Rothschild Asset Management has invested in a company in the Baltic countries, according to Domas Kačinskas, the manager of the Energy and Infrastructure SME Fund.

“This transaction is important recognition of the maturity of the entire Baltic market. The arrival of world-class institutional investors like Edmond de Rothschild confirms that projects being developed in our market are becoming attractive and that we are reliable, promising partners for international players,” Domas Kačinskas said.

“We are very proud to accompany Parkdema in its growth and to provide a sustainable structured finance solution. We hope this is the first of many transactions alongside Lord LB Asset Management in the Baltic market,” Jean-Francis Dusch, Global Head of Infrastructure & Structured Finance, CIO Infrastructure Debt (BRIDGE) at Edmond de Rothschild Asset Management said.

Parkdema plans to use the money raised to expand its parking operations and refinance existing loans, at the same time ensuring an optimal debt-to-equity ratio.

The company is owned by the Energy and Infrastructure SME Fund and Modus Group.

Parkdema operates one of the largest networks of car parks in Central Europe, with the Unipark and Europark brands in Lithuania and Latvia, City Parking Group in Poland, and a minority share of Europark and City Park in Estonia.

The parking network of Parkdema currently includes more than 500 parking lots in Lithuania, Latvia, Estonia and Poland, for a combined total of over 150,000 parking spaces.

The Edmond de Rothschild group, active for 250 years, is Swiss headquartered family-owned and provides asset management and private banking services and invests in sectors ranging from energy to winemaking. The group manages a total of 150 billion euros with an increased offering in illiquid assets (infrastructure, real assets and private equity), among which the fast growing BRIDGE’s Infrastructure Debt platform which raised EUR 2.6+bn of AUM since its August 2014 inception. Edmond de Rothschild has 32 offices in 15 countries around the world, with 2700 employees.

Lords LB Asset Management is an investment management company licensed by the Bank of Lithuania which has been providing services for institutional and private investors since 2008. The company currently manages 15 funds: 12 real estate funds, 2 private equity funds and 1 energy and infrastructure fund. The funds had total assets under management of 472.7 million euros at the end of June 2019.

Modus Group is an international group of companies, mainly focusing on renewable energy (Green Genius), mobility services (CityBee), smart parking solutions (Parkdema) and automotive business. The Group manages a network of renowned automotive brand representative offices, including Porsche, Fiat, Bentley, Maserati, etc.

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