Growth Equity Fund in the process of acquiring a share in the company LIT Tranzit d.o.o., Trzin

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LIT Tranzit d.o.o. is a global high-tech company with its headquarters in Trzin, Slovenia, and a development centre in Maribor. This innovative business develops and integrates intelligent public transport and mobility solutions. Its products are used in more than 25,000 buses around the globe, directly benefitting more than 5 billion passengers annually on all continents. Its solutions are implemented in cities with the most advanced public transport systems in the world, such as Hong Kong, Singapore, Nagoya and Tel Aviv. LIT Tranzit solutions come in four clusters:

  • a cloud platform for public transport operations management;
  • fare and revenue management solutions for cities and public transport operators;
  • computation and distribution of passenger information and
  • general mobility solutions.

The company’s biggest competitive advantage is a vertically integrated system with accurate and reliable algorithms predicting arrivals in public transport.

 

The Generali Growth Equity Fund’s equity investment in Lit Transit will help the company continue its research and development activities in today’s mobility challenges and environment protection through high-tech software solutions that are an essential contribution to sustainable development.

Generali Growth Equity Fund is a special investment fund managed by Generali Investments, Slovenia’s oldest management company with subsidiaries in Croatia and North Macedonia. Generali Growth Equity Fund invests in ambitious small and medium-sized companies, offering support for growth financing, capacity expansion, sales network building and new product development as well as the acquisition of competitors and management of succession matters.


The Generali Growth Equity Fund investment in LIT TRANZIT, programske rešitve, d.o.o., is co-financed by the European Investment Fund and the SID Bank. Generali Growth Equity Fund was founded in 2019 as part of the Slovene Equity Growth Investment Programme (SEGIP), which was launched upon the initiative of the SID Bank in cooperation with the European Investment Fund (EIF). It offers equity and quasi-equity financing to Slovenian SMEs and mid-cap companies. The SID Bank committed to contributing EUR 50 million of its own funds to this programme (without state guarantee), and the EIF has provided an additional EUR 50 million under the European Fund for Strategic Investments (with EFSI guarantee). By mobilising additional funding from other private investors through the SEGIP programme, overall investments for Slovenian companies could exceed EUR 150 million, which is 3-times the contribution of the SID Bank.

 

 

Generali Growth Equity Fund in the process of acquiring a share in the company Panorganix d.o.o., Ljutomer

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Panorganix d.o.o., a modern agricultural production business, is a pioneer of selling “living” products, that is products with their roots still in the ground and packaged in special biodegradable packaging, representing “a step forward in organic production”. The company’s production processes follow contemporary nutrition trends. The existing range is being constantly expanded with new products, using the latest agricultural production technology that includes the protection of a clean environment.

The Generali Growth Equity Fund’s equity investment in Panorganix will help the company further develop its innovative, high-tech methods of growing the highest quality fruit and vegetables, delivering them to customers full of freshness, flavour and rich in nutritional value. It will also help the business spread its sustainable agriculture, using cutting-edge technology and innovative, nature and environment friendly methods, to the broader region.

Generali Growth Equity Fund is a special investment fund managed by Generali Investments, Slovenia’s oldest management company managing EUR 1,025 million of assets together with its subsidiaries in Croatia and North Macedonia. Generali Growth Equity Fund invests in ambitious small and medium-sized companies, offering support for growth financing, capacity expansion, sales network building and new product development as well as the acquisition of competitors and management of succession matters.

The Generali Growth Equity Fund investment in Panorganix is co-financed by the European Investment Fund and the SID Bank. Generali Growth Equity Fund was founded in 2019 as part of the Slovene Equity Growth Investment Programme (SEGIP), which was launched upon the initiative of the SID Bank in cooperation with the European Investment Fund (EIF). It offers equity and quasi-equity financing to Slovenian SMEs and mid-cap companies. The SID Bank committed to contributing EUR 50 million of its own funds to this programme (without state guarantee), and the EIF has provided an additional EUR 50 million under the European Fund for Strategic Investments (with EFSI guarantee). By mobilising additional funding from other private investors through the SEGIP programme, overall investments for Slovenian companies could exceed EUR 150 million, which is 3-times the contribution of the SID Bank.

 

KD Funds proud to become Generali Investments

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The name of KD Funds has officially changed to Generali Investments LLC while its brand identity will now be linked to the iconic lion of St. Mark, the symbol of Venice and of the Generali Group.

The existing range of products and services will be maintained and in the future will undergo a process of rebranding and continuous improvement, incorporating the innovations and best practices acquired through the extensive international experience of the Generali Group. The rebranding process will not affect our clients or ongoing business agreements.

Josef Beneš, Chief Investment Officer of Generali CEE Holding B.V. and Chief Executive Officer of Generali Investments CEE, said: “KD funds, becoming Generali Investments, is home to the most renowned and awarded team of local experts and boasts the longest tradition of asset management on the SEE markets. All the current advantages of its value creation capabilities will be amplified by the access to the global know-how and opportunities provided by the Generali Group.”

Luka Podlogar, President of the Management Board of Generali Investments LLC commented: “We combine our excellent asset management performance and unmatched knowledge of our investors’ needs with a truly global platform. In the following period, our team’s purpose is to deliver even better results with the help of innovative, accessible and personalized services.”

The Generali Group has been operating in Slovenia since 1997. In line with its Generali 2021 strategy and its vision to develop in Slovenia and the entire Austria, CEE and Russia Region, Generali significantly increased its presence on the local market in 2018, after signing an agreement with KD Group to acquire the entire corporate capital of KD Funds and Adriatic Slovenica. The transactions were finalized after receiving the approval of the relevant supervisory authorities earlier this year.

 

THE GENERALI GROUP

Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in 50 countries in the world, with a total premium income of more than € 66 billion in 2018. With nearly 71,000 employees serving 61 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. Generali’s ambition is to be the lifetime partner to its customers, offering innovative and personalized solutions thanks to an unmatched distribution network. In Austria, Central and Eastern Europe and Russia the Group operates through its Austria, CEE & Russia Regional Office (Prague) in 13 countries.
Generali Investments has EUR 488 billion in assets under management globally, and EUR 20 billion in assets under management in the CEE countries, which makes it one of the largest asset management companies in the CEE region.

KD Funds selected as manager of SEGIP programme funds

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SID Bank signed the agreement with the EIF in November 2017 to set-up the EUR 100 million SEGIP programme with the support of the European Fund for Strategic Investments (EFSI). It is intended for all small and medium-sized companies with up to 3.000 employees established in the Republic of Slovenia.

SEGIP supports the capacity building of private equity funds established in Slovenia and also regional and pan-European private equity funds active in Slovenia, through which equity and mezzanine financing will be provided to eligible SMEs and mid-cap companies in Slovenia. Such funds are required to be managed and investments made by fund managers that meet EIF eligibility standards of professional management. Under the EIF closed call procedure, KD Funds was selected for asset management of a private equity fund and will receive funding from SEGIP. The objective of SEGIP is to support companies in their growth and further development, added value creation, entering new markets, financing of investments and working capital and even acquisitions of other companies, export financing, and succession and reorganisation financing.

Luka Podlogar, President of the Management Board of KD Funds, says: “Small and medium-sized companies are the engine of the Slovenian economy, making a significant contribution to economic growth. However, due to a lack of equity financing many of these companies are unable to reach their full potential. Our private equity fund will invest in companies with high growth potential and ambitious teams requiring capital to finance their capacity expansion plans, sales network building, product development or for the acquisition of competitors. The fund will offer Slovenian investors a new, alternative investment opportunity to acquire an equity interest in fast growing small and medium-sized companies that would be otherwise difficult to invest in directly. We have been through a very intense period in which we successfully completed a legal, economic and market due diligence review of compliance with the EU equity financing standards. We are proud that KD Funds has been selected to participate in the Slovene Equity Growth Investment Programme. It is an opportunity for us to fulfil our mission of being a responsible financial intermediary that also contributes to the development and growth of the Slovenian economy.”

KD Funds is becoming part of the Generali Group

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After more than a quarter of a century in business, KD Funds is now joining the international Generali Group. Founded in 1831, Generali is an independent international financial group with a presence in over 50 countries across the world and employing more than 71,000 people. In 2017, Generali collected EUR 68 billion in insurance premiums and had EUR 487 billion of assets under management. According to the Fortune Global 500 report, Generali is ranked one of the world’s 60 largest companies, based on sales, profit, assets and market value. Generali Investments CEE, the largest asset management company in Central and Eastern Europe, managing EUR nearly 17 billion of assets, is also a member of the Group.

Luka Podlogar, President of the Management Board of KD Funds, comments on this significant milestone: »Apart from being one of the leading global insurers, Generali is also one of the largest European asset managers. Becoming part of the Generali Investments family will strengthen KD Funds’ ability to implement its growth strategy in South Eastern Europe. Furthermore, it will enable the company to broaden its products and investor base, as well as enable its employee’s additional development opportunities. We have an excellent team; we offer advanced and modern financial products that are constantly adapted to the financial needs of the market and our investors. Generali’s long term tradition and knowledge will help in further product upgrading. Our excellent and experienced team, in which we trust, remains the same. We are proud to become part of an international team with a winning mind-set. Exceptional opportunities are in front of us and I am convinced that we will use them for the benefit of our investors.”

 

 

KD Funds in partnership with Peakside Capital acquires Austria Trend Hotel in Slovenia

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Located in the Slovenian capital of Ljubljana, Austria Trend Hotel offers 214 rooms and its amenities include a restaurant, spa and wellness centre, with sauna and gym, as well as 11 conference rooms. The hotel is conveniently positioned in the immediate vicinity of the Ljubljana ring road, with motorway access and excellent transport connectivity.

The investment objective of KD Adriatic Value Fund is to generate returns for investors from rental income and capital growth through investments in real estate in Slovenia, Croatia and Serbia, with a special focus on office and retail properties. The three target countries offer a relatively undeveloped real estate sector and attractive returns, whilst the long-term success of the fund is further supported by strong economic growth in the region.

Luka Podlogar of KD Funds said: “With the acquisition of the Austria Trend Hotel, KD Adriatic Value Fund is strengthening its core business and expanding its real estate investment portfolio to include the hospitality sector. This is in line with our strategy of offering SEE real estate as an attractive asset for institutional investors.”

Tomasz Niezgodzki, Peakside Capital, said: “The hotel is well recognised by tourists and business guests in Ljubljana. With its excellent location, visibility and building structure it has a great potential for further growth together with the whole Slovenian hospitality sector.”

“We are pleased with the four initial investments we have secured on behalf of the Fund, and the speed at which we have managed to deploy capital.”

Notes to editors:

KD Adriatic Value Fund is a special investment fund established by KD Funds, one of the largest and oldest asset managers in South-East Europe (SEE), in partnership with Peakside Capital, an independent real estate investment manager firm. This is the first regulated real estate alternative investment fund in Slovenia. To date, it has raised commitments from regional institutional investors, giving it a buying power of over EUR 50 million.

Founded in 1994, KD Funds is one of the largest and oldest asset managers in SEE. Together with its subsidiaries, it manages around EUR 700 million in 34 funds and 13 investment mandates across the SEE region, including the oldest mutual funds in Slovenia and Croatia.

Peakside Capital is a specialist European Investment Manager, owned by its management. It manages real estate assets currently totalling over EUR 1 billion in gross asset value with a focus on CEE and Germany. The company has offices in Frankfurt, Munich, Zug (CH), Warsaw, Prague and Luxembourg.

Peakside Capital provides fund management and investment advisory services for managed portfolios that include its four real estate funds and a significant number of separate account investments.

The investment strategies it pursues serve the individual requirements of its investors, and range from core to opportunistic across the office, residential, hotel and retail sectors. The investment spectrum comprises investments in single assets and portfolios through to distressed debt and investments in real estate operating companies.

Morningstar ranks KD Funds among the top 9% of the world’s best management companies

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Even during the economic cooling-off period and the slowed global growth of the economy, KD Funds has maintained professionalism and excellence in managing the assets of its investors. Three of our funds received a maximum of 5 or 4 stars, which means they rank among the top 10% of funds in each category (in the case of 5 Morningstar stars) or the next 22.5% of funds (in the case of 4 Morningstar stars). On 31 December 2018, the holders of 5 or 4 Morningstar stars are:

 

KD First Selection, 5 stars in the Flexible Allocation – Global category, 3-year period, ranking 113th among 1,851 funds of the same category, and 5-year period, ranking 17th among 1,331 funds.
KD Bond, 5 stars in the EUR Diversified Bond category, 3-year period, ranking 59th among 1,163 funds of the same category, and 5-year period, ranking 45th among 1,042 funds.
KD Vitality, 4 stars in the Global Large-Cap Blend Equity category.

 

Based on the rating of all funds and the relative number of funds within each category, Morningstar has set up an informal ranking of management companies, with KD Funds occupying the 280th place out of 3,128 management companies, thus ranking among the top 9% of the management companies in the world.

Morningstar, an independent and highly acclaimed rating agency based in the US, has been rating funds across the world since 1985. Morningstar rates funds from one to five stars based on how well they have performed (after adjusting for risk) in comparison to similar funds. Within each Morningstar Category, the top 10% of funds receive five stars, the next 22.5% four stars, the middle 35% three stars, the next 22.5% two stars, and the bottom 10% receive one star. Funds are rated for up to three time periods –three-, five-, and 10 years –and these ratings are combined to produce an overall rating. Funds with less than three years of history are not rated. Ratings are objective, based entirely on a mathematical evaluation of past performance. They are a useful tool for identifying funds worthy of further research, but should not be considered buy or sell recommendations.

 

© 2018 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

KD Funds and Peakside Capital acquire Arkadia shopping centre

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Located at Virska cesta 21 in Dob pri Domžalah, the Arkadia shopping centre is conveniently situated for access to the Ljubljana–Maribor motorway. Comprising 19 shop units, providing over 11,000 sqm of leasable space and 350 parking spaces, the Centre is fully let to a range of tenants including multinationals such as Spar, Müller, C&A and Hervis.

The investment objective of KD Adriatic Value Fund is to generate returns for investors from rental income and capital growth real estate investments in Slovenia, Croatia and Serbia, with a special focus on office and retail properties. The three target countries represent a region with a relatively undeveloped real estate sector and attractive returns, whilst the long-term success of the fund is further supported by strong economic growth.

 

Commenting on behalf of KD Funds, Luka Podlogar said: ”With the acquisition of the Arkadia shopping centre, the fund is strengthening its core business and expanding its real estate investment portfolio. This is in line with our strategy of offering SEE real estate as an investable asset for institutional investors”.

Commenting on behalf of Peakside Capital, Tomasz Niezgodzki said: “With its strategic location and strong tenant line up, this asset will complement the income profile of our other investments whilst providing sector diversification.”

 

-ENDS-

Mateja Stopar (for KD Funds) Tel: +386 1 582 67 78

FTI Consulting (for Peakside Capital)
Dido Laurimore/Tom Gough Tel: +44 020 3727 1000

________________________________________________________________________________________

Notes to editors:

KD Adriatic Value Fund is a special investment fund established by KD Funds, one of the largest and oldest asset managers in South-East Europe (SEE), in partnership with Peakside Capital, an independent real estate investment manager firm. This is the first regulated real estate alternative investment fund in Slovenia. To date, it has raised commitments from regional institutional investors, giving it a buying power of EUR 50 million.

Founded in 1994, KD Funds is one of the largest and oldest asset managers in SEE. Together with its subsidiaries, it manages around EUR 800 million in 34 funds and 13 investment mandates across the SEE region, including the oldest mutual funds in Slovenia and Croatia.

Peakside Capital is a specialist European Investment Manager, owned by its management. It manages real estate assets currently totalling over EUR 1 billion in gross asset value with a focus on CEE and Germany. The company has offices in Frankfurt, Munich, Zug (CH), Warsaw, Prague and Luxembourg. Peakside Capital provides fund management and investment advisory services for managed portfolios that include its four real estate funds and a significant number of separate account investments. The investment strategies it pursues serve the individual requirements of its investors, and range from core to opportunistic across the office, residential, hotel and retail sectors. The investment spectrum comprises investments in single assets and portfolios through to distressed debt and investments in real estate operating companies.

 

KD Funds, the Proud Patron of the DELO Business Stars Project 2018

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KD Funds has been supporting projects promoting innovative and development-oriented companies aspiring for excellence and long-term success for a number of years. KD Funds itself is a company whose DNA includes similar values – excellence, long-term focus, passion, winning and team spirit.

“Whilst small and medium-sized companies are the engine of every economy, they are quite often misunderstood. Most of the Slovenian SMEs we assess to be the companies of the future come from the manufacturing, technological and health sectors. They have good human resources, development-oriented ideas and a growth attitude but lack proper equity financing. They tell us that banks are not necessarily their long-term partners in every development phase, which became clear in the recent crisis. This is where we see our potential as well as the mission of our industry,” says Luka Podlogar, the President of the Management Board of KD Funds.

On the basis of a list of companies prepared by the project partner, the Agency of the Republic of Slovenia for Public Legal Records and Related Services (AJPES), the Delo editorial team short-listed 115 companies and selected ten nominees – companies that are innovative, export and development oriented, with at least EUR 3 million of annual revenues, a minimum of five employees and an added value per employee of at least EUR 35,000. At the same time, they are aware that people are of key importance for their success.

The companies nominated for this prestigious award – Pipistrel, Polycom Škofja Loka, Solis Straža, D. Labs, Vasco, Acies Bio, Labena, Mineralka, Mi elektronika and Resalta – are presented on the www.delo.si/delove-podjetniske-zvezde website, where readers can vote for their favourite nominee.

The Delo Business Star 2018 will be announced at the big gala event to take place on 8 November at Brdo pri Kranju. This will be one of the ten SMEs chosen by the Delo editorial team and the professional jury, including Luka Podlogar, the President of the Management Board. On the same day, a seminar hub ‘Business – the Story of Human Capital’ will be organised for the first time as part of the Delo Business Stars project, connecting topics on the significance of human capital, the meaning and objectives of entrepreneurship, and understanding and introducing new business models required by the 4th Industrial Revolution. Luka Podlogar, the President of the Management Board, and his guests will be speaking about how to manage a company’s growth phase.

KD Funds and Peakside Capital acquire Stekleni dvor south tower for EUR 13 million real estate

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Situated on Dunajska street in the Bežigrad district of northern Ljubljana. Stekleni dvor comprises two separate office buildings connected by a joint underground car park. The south tower provides 8,700 sqm of leasable space over ground, mezzanine and eight floors together with a three-level underground car park. The anchor tenant in the property is Addiko Bank. With its prime location on Ljubljana’s main arterial route, the asset also benefits from excellent traffic connections.
The transaction represents the Fund’s second investment in Ljubljana, following the EUR 13 million purchase of Tivoli Center, an office building in Ljubljana, which closed in April. KD Adriatic Value Fund, Special Investment Fund, is an alternative investment fund managed by KD Funds, with Peakside Capital acting as investment advisor. Its investment objective is to generate returns for investors from rental income and capital growth through investments in real estate in Slovenia, Croatia and Serbia, with a special focus on office and retail properties. The three target countries represent a region with a relatively undeveloped real estate sector and attractive returns, whilst the long-term success of the fund is further supported by strong economic growth.

Commenting on behalf of the KD Funds, Luka Podlogar, said: ”We are pleased to have concluded our second transaction so quickly and look forward to growing the Fund with further compelling investment opportunities over the coming months. We are on track to create a high quality real estate portfolio that offers attractive returns to our investors.

Commenting on behalf of the Peakside, Tomasz Niezgodzki, said: ”This is an excellent, high quality office building, located in an area of Ljubljana which benefits from strong transport links and proximity to the city center. The office market in Ljubljana is very attractive for investors thanks to growing tenant demand and limited supply of institutional quality space.

Notes to editors:


KD Adriatic Value Fund is a special investment fund established by KD Funds, one of the largest and oldest asset managers in South-East Europe (SEE), in partnership with Peakside Capital, an independent real estate investment manager firm. The fund is the first regulated real estate alternative investment fund in Slovenia. To date, it has raised commitments from regional institutional investors, giving it a buying power in excess of EUR 50 million.

Founded in 1994, KD Funds is one of the largest and oldest asset managers in SEE. Together with its subsidiaries, it manages around EUR 800 million in 34 funds and 13 investment mandates across the SEE region, including the oldest mutual funds in Slovenia and Croatia.

Peakside Capital was founded in 2010 as a spin-off of the Merrill Lynch investment bank and currently employs 40 people (including subsidiaries). It is mainly active in Germany and Eastern European countries, managing funds and asset management mandates. It currently has about EUR 1 billion of gross assets under management.