EfTEN CapitalEfTEN Capital

EfTEN Kinnisvarafond

Fund name EfTEN Kinnisvarafond AS
Fund type Closed-end non-public real estate fund, which is founded as private limited company. Regulated by Estonian Financial Supervision Authority
Fund term Year 2027. General Meeting can prolong the fund term for 1 year
Fund manager EfTEN Capital AS
Fund status Investment period has ended; holding phase.
Auditor AS PricewaterhouseCoopers
Fund size (share capital) Maximum 200 million euros
Investment focus Cash flow generating commercial properties in the Baltic States. The maximum size of the single investment is 30% of fund assets.
Financial leverage Maximum 85%, optimal 65%
Share issue terms Share issues are decided at the fund’s General Meetings.
Entrance and exit fee No entrance and exit fees
Liquidity of shares The fund’s shares are not publicly traded. Investment should be regarded as long-term investment. The Fund’s shares are freely transferable.
Share buyback by fund No share buyback.
Hurdle rate 10% annually.
Management fee The management fee is comprised of two parts: the principal fee and the success fee.
The principal fee is 2% of the equity invested per year, not NAV-based. The success fee is 20% of the sum that is between the sale price of the Fund’s investment property or the sales prices in case of the consolidated sale of investment property, and the said investment property’s purchase price or purchase prices, purchase expenses and improvement expenses and hurdle rate. The calculation of the success fee for the management company is investment based and deducted from NAV, but the fee is paid when the Fund closes.
Net asset value (NAV) Calculation of the net asset value of the Fund’s assets takes place on a monthly basis. The NAV value is made public at www.eften.ee website.
Dividend The dividend payment is decided by General Meeting and is in-between 4 – 6% of the invested equity annually.
Fund’s expected capital return 20% annually
Depositary Swedbank AS



Supervisory Board

  • Arti Arakas
  • Siive Penu
  • Laire Piik
  • Jaan Pillesaar
  • Sander Rebane
  • Tauno Tats
  • Kristo Oidermaa

Management Board

Viimased uudised

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