EfTEN CapitalEfTEN Capital

About EfTEN


EfTEN Capital is an independent Baltic commercial real estate fund manager. EfTEN holds an alternative investment fund manager (AIF) license issued by Estonian Financial Supervision Authority. EfTEN currently manages four funds:

  • EfTEN Kinnisvarafond AS (founded in 2008), an opportunistic and value-added strategy commercial real estate fund. Fund’s investment period has ended. The fund is the largest commercial real estate fund in Baltics with assets over 200 million euros.
  • EfTEN Kinnisvarafond II AS (founded in 2015), targeted mainly for institutional investors. The fund follows core and core plus investment strategy. Funds investment region is Baltic States capitals.
  • EfTEN Real Estate Fund III AS (founded in 2015) is a public closed real estate fund, targeted mainly for retail investors. The funds investment strategy is value added and opportunistic. Funds investment region is Baltic States.
  • Usaldusfond EfTEN Real Estate Fund 4 (founded in 2018) is alternative, closed-end investment fund. The fund follows core and core plus investment strategy.

All four funds are managed as alternative investment funds.

EfTEN Capital employs over 50 people and has offices in all three Baltic States. In addition to fund management EfTEN Capital also offers private commercial real estate management.

EfTEN Capital is the largest real estate fund manager in Baltic States.

Investment Segments

  • office premises
  • commercial premises
  • warehouse and production premises
  • hotels


Supervisory Board

  • Hannes Tamjärv (chairman)
  • Jaan Pillesaar
  • Arti Arakas
  • Peeter Mänd
  • Olav Miil

Management Board

Viimased uudised