Indexo Real Estate Fund portfolio managed by SIA Provendi Asset Management has reached 50 million EUR

  • 2023-08-29

Indexo Real Estate Fund, a real estate investment fund launched in Latvia at the beginning of 2023, has built up a real estate portfolio in six months and continues to invest actively. This month, the fund has signed an agreement to acquire two shopping centres in Latvia, bringing the total amount of assets already owned by the fund and under acquisition to 50 million euros.

Indexo Real Estate Fund is currently working on several important property acquisitions in the Baltic states and is revising new real estate proposals in retail, logistics, residential houses, and office sectors with a goal to achieve the portfolio value of EUR 100 million in the upcoming six months. The fund’s portfolio already includes three long-term apartment rental buildings in the centre of Riga: Elizabetes Street 89, Pulkveza Brieza Street 10 and Krisjana Valdemara Street 61, with a total of 260 long-term new and modern rental apartments.

“Real estate is one of the most stable and demanded long-term investments, but there has not been a large-scale local real estate fund in Latvia before that would offer investment opportunities also for non-institutional investors. In response to demand and contributing to the local capital market development, Indexo Real Estate Fund in 2025 wishes to launch listing of the fund’s shares on the Riga stock exchange. Our fund with a balanced assets portfolio and stable tenants will be a good alternative for the bonds market for investors,” said Indexo Real Estate Fund board chairman Kristaps Berzins.  

The current investors in the fund are resident companies and investors, ensuring 51% of the fund’s capital, while about 49% belongs to two Latvian pension plans managed by IPAS Indexo. In the coming months the fund plans to make a new issue of shares, attracting investors from Latvia, the Baltic states and Scandinavian countries.

About Provendi Asset Management

SIA Provendi Asset Management is alternative investment fund manager, registered with the Bank of Latvia, established by IPAS Indexo and private partners. The managerial team has more than 20-year experience in investment, commercial bank and real estate sectors. At present SIA Provendi Asset management manages Indexo Real Estate Fund.

About Indexo Real Estate Fund

Indexo Real Estate Fund is an independent investment fund, established at the end of 2022 and managed by alternative investment fund manager SIA Provendi Asset Management AIFP, registered with the Bank of Latvia. The goal of the fund is to invest in high quality and low risk Baltic real estate portfolio – office, retail, logistics and industrial buildings with a stable cash flow. More information about Indexo Real Estate Fund:

INDEXO is an investment management company, licensed by the Bank of Latvia, offering modern 2nd tier and 3rd tier pension plans in Latvia. INDEXO is the fastest growing pension management company in Latvia by the number of customers, with more than 117,000 customers and more then EUR 780 million assets in management.