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Lords to profit from bridge

Anna Pakulniewicz 06 October 2017

Anna Pakulniewicz


+48 22 356 25 07

Ania covers the Baltic states’ real estate markets, architecture and urban planning in Warsaw as well as interior design. She is also the co-founder of Eurobuild TV. Among others, she has been employed by TVN CNBC, PAP Insider, WBJ (The Observer), Poland Monthly and IMM. She graduated from the Warsaw School of Economics, majoring in international relations. She has also completed postgraduate studies in macroeconomic analysis. In addition to this, she studied Lithuanian philology

LITHUANIA A fund controlled by Lords LB Asset Management has acquired the concession for the maintenance of a flyover that provides access from the south bank to the M. K. Čiurlionio bridge in Kaunas.

The Energy and Infrastructure SME fund has acquired SPV Čiurlionio Tiltas from Hidrostatyba, which is responsible for the design, construction and operation of the road.

Over the next 16 years, the investment fund will be responsible for the maintenance, while Hidrostatyba will continue to work on the project as the general contractor.

In 2006, Hidrostatyba was awarded the tender by the city of Kaunas to construct s 300m flyover over the railway lines, embankments and slip roads. Until 2031 the warrantee offered by Hidrostatyba remains in force. According to fund manager Jaroslavas Neverovičius, this is the first PPP investment to be made by the fund.

"We made the decision on this long-term investment believing it to be one of the most successful projects in which private capital has been employed in public infrastructure. We understand that the importance of public and private capital partnerships could significantly increase in the near future with decreasing EU funding. Therefore, we are already offering funding for public and private partnership projects in all stages of their implementation: either submitting offers together with strategic partners for new projects, or once developers withdraw from such projects,” he stated.

"It is normal practice around the world for private investors to join large-scale city projects. It significantly eases a city's responsibility to develop necessary infrastructure,", said Gintaras Petrauskas, director of Kaunas City administration.

Currently, Lords LB Asset Management controls 13 funds including nine real estate funds, two private capital funds and two energy and infrastructure funds. The total value of its assets under management came to EUR 258 mln at the end of July 2016.

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