New Hanza Capital, AS acquired capital shares of S

Riga, Latvia, 2017-02-10 08:30 CET (GLOBE NEWSWIRE) -- The ABLV group company New Hanza Capital, AS, which makes investments in commercial property, acquired 30% capital shares of the alternative mutual fund management company SIA “SG Capital Partners AIFP”. Therefore, ABLV Bank, AS acquired indirect qualifying holdings in the said company.

SIA “SG Capital Partners AIFP” was registered with the Financial and Capital Market Commission in November 2016, and it is an alternative mutual fund management company entitled to render fund investment and risk management services. The company’s objective is raising funds from institutional clients and investing those in real estate.

Following the changes in the structure of members, the New Hanza Capital, AS Chief Executive Officer Andris Kovaļčuks was appointed as board member of SIA “SG Capital Partners AIFP”, and now the company’s board consists of three members, who have the right of joint representation. The Chairman of the Board of SIA “SG Capital Partners AIFP” is Harijs Švarcs.

New Hanza Capital, AS was founded in 2006. The company’s business goals are to invest its own funds and the funds of third parties in commercial property ensuring a long-term capital increase, to grow rental incomes and property value in the long-term. The largest shareholder of New Hanza Capital, AS is ABLV Bank, AS, which holds 88% of the company’s shares. The company’s commercial property portfolio includes airBaltic headquarters in Riga Airport, logistics centre in Kekava municipality, and other properties.

         Ilmārs Jargans                    Head of Public Relations Department          ABLV Bank, AS          Tel.: +371 6777 5296          e-mail: ilmars.jargans@ablv.com