Cobalt has advised the INVL Baltic Forests Fund I, managed by INVL Asset Management, on the sale of 100% of shares in UAB Aukstagire and UAB Aukstasile to Silvestica Green Forest Lithuania, which was reportedly advised by 3Law Miskinis & Partners.
INVL Baltic Forests Fund I is part of a closed-end umbrella fund, INVL Alternative Assets Umbrella Fund, intended for informed investors. According to Cobalt, “the INVL Baltic Forests Fund I subfund invests in the Baltic countries in forests that are suited to forestry activities.”
UAB Aukstagire and UAB Aukstasile jointly own more than 750 land plots, amounting to more than 4,000 hectares.
Silvestica Green Forest is a long-term forest-oriented fund for institutional investors that invests in forests in Sweden, Finland, Lithuania, Latvia, and Estonia. The Silvestica Fund owns more than 10,000 hectares of forest in Lithuania, and about 50,000 hectares of forest overall.
The Cobalt team included Managing Partner Irmantas Norkus and Senior Associate Inga Mazvilaite.
