Lithuania-based Invalda INVL has agreed to invest €30.8m in INVL Private Equity Fund II, a private equity investment fund managed by its subsidiary UAB INVL Asset Management.
INVL Private Equity Fund II is the second-generation private equity fund under Invalda INVL.
The fund aims to reach a hard cap of €400m and has already raised €305m in its first closing, exceeding its initial target of €250m.
It is the second-generation private equity initiative fund under the Invalda INVL Group.
INVL Private Equity Fund II follows the same strategy as the INVL Baltic Sea Growth Fund, which has been operational since 2019.
The INVL Baltic Sea Growth Fund reported a net internal rate of return (IRR) of 25% and a total value to paid-in capital (TVPI) exceeding 2x by the end of 2024.
Through the partnership agreement, Invalda INVL will execute its primary private equity investments through INVL Private Equity Fund II and the INVL Baltic Sea Growth Fund.
Invalda INVL will receive a pro-rata share of the success fee from INVL Private Equity Fund II, subject to future returns.
INVL Private Equity Fund II will focus on private equity investments in the Baltic Sea region.
The management company of the fund, UAB INVL Asset Management, will receive a management fee, capped at 17% of total capital commitments, over the fund’s life.
The fee structure represents the maximum amount INVL Asset Management has received from managing an alternative investment fund, said the investment firm.
