Edmond de Rothschild Asset Management has entered the Baltics with a 鈧�27m investment in a parking lot operator.
The investment manager鈥檚 BRIDGE fund, has acquired bonds issued by Parkdema, a company owned by Lords LB Asset Management鈥檚 Energy and Infrastructure SME fund and Modus Group.
Parkdema plans to use part of the money raised to expand its parking operations and refinance existing loans.
The company鈥檚 parking network currently includes more than 500 parking lots in Lithuania, Latvia, Estonia and Poland, for a combined total of over 150,000 parking spaces.
Domas Ka膷inskas, the manager of the Energy and Infrastructure SME Fund, said: 鈥淭his transaction is important recognition of the maturity of the entire Baltic market.
鈥漈he 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.鈥�
Jean-Francis Dusch, global head of infrastructure and structured finance, CIO infrastructure debt (BRIDGE) at Edmond de Rothschild Asset Management, said: 鈥淲e are very proud to accompany Parkdema in its growth and to provide a sustainable structured finance solution.
鈥淲e hope this is the first of many transactions alongside Lord LB Asset Management in the Baltic market.鈥�
