Northern Horizon Capital AS, the management company of Baltic Horizon Fund, hereby informs of changes in the management board.

Algirdas Vaitiekunas, a long term member of the management board of Northern Horizon Capital AS, will resign from the management board, with his last date of office being 2 January 2023.

Edvinas Karbauskas has been elected as a new member of the management board of Northern Horizon Capital AS starting 3 January 2023 for a period of four years. Edvinas Karbauskas is also appointed as co-fund manager of Baltic Horizon Fund together with Tarmo Karotam, the current fund manager.

Since joining Northern Horizon Group in 2018, Edvinas has worked as an Investment Manager and Head of Fund Controlling. Prior to that, Edvinas worked as a Fund Controller in the Northern Horizon Group. Previously, Edvinas worked at EY, which provides audit and consulting services. During his tenure at EY, Edvinas focused on financial consulting for real estate funds and private equity investment companies. His responsibilities will continue to be the implementation of Baltic Horizon Fund investment strategy, investment analysis, deal sourcing and financial management.

“I would sincerely like to thank Algis for his long-term dedication and contribution to Northern Horizon Capital group over the past two decades and more specifically to Baltic Horizon Fund since its listing in 2016. At the same time, I am delighted that Edvinas is joining the top management team of the fund focusing mainly on investment and financial management”, comments Tarmo Karotam, fund manager of Baltic Horizon.

Edvinas Karbauskas is currently a member of the management boards of the BH Europa UAB, BH Meraki UAB, BH Domus PRO UAB, BH Northstar UAB and BH Duetto UAB. Edvinas does not hold units of the Baltic Horizon Fund.

Starting from 3 January 2023, the management board of Northern Horizon Capital AS will be as follows: Tarmo Karotam (the Chairman of the Board), Aušra Stankevičienė and Edvinas Karbauskas.

For additional information, please contact:            

Tarmo Karotam                 
Baltic Horizon Fund manager                 

Baltic Horizon Fund is a registered contractual public closed-end real estate fund managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS.

Distribution: Nasdaq Tallinn, Nasdaq Stockholm, GlobeNewswire,