TGS Baltic advised Röntgen Asset Management (UAB Ketvirta Diena) on obtaining permission to operate as a management company of collective investment undertakings for informed investors

23.04.2024 TGS Baltic advised Röntgen Asset Management (UAB Ketvirta Diena) on obtaining permission to operate as a management company of collective investment undertakings for informed investors

Our team advised Röntgen Asset Management (UAB Ketvirta Diena) on obtaining permission to operate as a management company of collective investment undertakings for informed investors. 

This complements the Röntgen brand's existing presence in the financial sector: the management company’s sister company Röntgen is a provider of crowdfunding services.

 

 

Röntgen receives a fund management company licence 

On Tuesday, the Bank of Lithuania granted a fund management company licence to UAB Ketvirta diena, which intends to introduce three investment funds for informed investors and extend the brand of the real estate crowdfunding platform Rontgen.

In 2023, Rontgen applied for a fund management company licence from the Bank of Lithuania to meet the needs of larger investors.

“Large investors have trusted our conservative project selection for some time and are willing to entrust us with the management of more capital. Also, the structure of the funds allows for the development or financing of larger projects than the EUR 5 million currently allowed for crowdfunding platforms,” the company’s announcement quotes Martynas Stankevičius, CEO of the Rontgen platform and one of the shareholders.

In its communications, the fund management company will use the name “Rontgen Asset Management”. Simonas Bačiulis, head of the fund management company, comments that the company’s first planned fund will invest in private debt. More investment avenues are planned in the future, including real estate development and aviation.

Businesses in the aviation sector have already been funded through the Rontgen platform several times and this sector will therefore continue to be one of the strategic focus areas.

“The fund structure is more convenient for large and institutional investors, as it allows them to ensure greater diversification without having to actively take care of their investments,” says S. Bačiulis.

According to M. Stankevičius, shareholder of Rontgen, both the crowdfunding platform and the fund management company will be pari passu business priorities.

According to the data of the Bank of Lithuania, last year Rontgen became the second largest crowdfunding platform in Lithuania, concentrating more than EUR 54 million in loans. The platform is used by almost 18,000 natural and legal persons.