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Management Company

Northern Horizon Capital AS is the Management Company of Baltic Horizon Fund.

The Management

The Management Company (AIFM) of Baltic Horizon Fund is Northern Horizon Capital AS.

Both Baltic Horizon Fund and Northern Horizon Capital AS operate under the laws of Estonia and are supervised by Estonian Financial Supervision and Resolution Authority.

Northern Horizon Capital AS is part of Northern Horizon group headquartered in Copenhagen, Denmark.

Management and
success fees

Baltic Horizon Fund is a tax transparent and cost-efficient vehicle. The management fee is linked to the market capitalization of the tradable units. It is embedded in the Fund Rules that the management fee will decrease from 1.5% to as low as 0.5% from the market capitalizations as the Fund’s assets grow.

The Fund operates under the REIF concept where the vast majority of the Fund’s cash earnings are paid out and only 20% can be reinvested. The success fee is based on AFFO. The hurdle rate is 8% of AFFO from paid-in capital. The manager is entitled to 20% of the part exceeding the hurdle rate. The success fee is capped and floored at 0.4% from NAV per annum. Positive and negative success fee calculate annually accumulates perpetually.

Supervisory Council of the
Management Company

The Management Board of Baltic Horizon Fund is supervised and
advised by the Supervisory Council of the Management Company.

About Northern

Northern Horizon is an experienced investment manager focusing on specialized real asset investment strategies in Northern Europe.

Northern Horizon is the result of a merger in 2011 between BPT Asset Management and Evli Property Investments. Northern Horizon currently has approx. 35 employees and manages 4 real estate funds. Total assets under Northern Horizon management is approx. EUR 1.5 billion EUR.