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

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.

KD Funds and Peakside Capital launch Slovenia’s First Regulated Alternative Investment Fund with Maiden Acquisition

 

The new fund will leverage the unique combination of Peakside’s real estate market knowledge coupled with KD Funds’ global expertise and experience in managing institutional real estate investments offered by the two firms joining forces.

To date, the Fund has raised commitments from regional institutional investors giving it a buyingpower in excess of €50m. Investors are attracted to the opportunities offered by the region which is currently delivering economic growth well in excess of the EU average whilst near-term prospects are expected to benefit from the yield gap relative to other European real estate markets.

The Fund has already made its first acquisition, with the purchase of the Tivoli Center, an office building in Ljubljana for €13m, reflecting a net initial yield well in excess of 8%. The Class A property located in prime downtown Ljubljana provides a Gross Lettable Area (GLA) of around 8,000 sqm across two connected buildings. 97% of the space is occupied by long-term tenants with strong covenants. Current tenants include international law firms, as well as a diversity of various successful SME companies. The property offers excellent transport connections including good access to public transport links.

Luka Podlogar, the President of the Management Board of KD Funds, said: “We are pleased to have closed the first acquisition of a commercial real estate asset for our new real estate fund, proving ourselves as the pioneers of development in the real estate fund sector in Slovenia, too. By way of this venture, we are fulfilling the KD Funds’ strategy in practice, namely to expand our product range of successfully managed funds for retail investors, by adding alternative investment funds for institutions.”

Stefan Aumann, Managing Partner and Founder of Peakside Capital added: “The acquisition of Tivoli Center is an excellent start for the Adriatic Value Fund. We are very happy to have acquired a prominent building that is in demand from occupiers and is located in a prime location within the growing Ljubljana office market. This is a stepping stone in establishing a larger portfolio in the region that will offer attractive returns to the Fund’s investors.”

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.

 

Notes

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

Peakside Capital was founded in 2010 as a spin-off from the Merrill Lynch investment bank and currently employs ca. 30 people. It is mainly active in Germany and Eastern European countries, managing funds and asset management mandates. It currently has more than EUR 1 billion of gross assets under management.

For the third consecutive year, we are proud to be recognized as the Asset Management Company with the Best Fund Manager in Slovenia

 

The Best Mutual Fund Manager award has been bestowed by a Slovenian financial magazine for the last eight years. This year, too, it went to a KD Funds team member, Primož Cencelj. A three-time winner of the Best Fund Manager title in Slovenia (2017, 2015 and 2013), Primož Cencelj (CFA) is in charge of managing KD MM and KD Bond, subfunds of the KD Umbrella Fund, as well as KD Corporate Bonds with a total asset value of EUR 54 million. The awards and star-based ratings given to these funds for three- and five-year periods represent the highest recognition in the industry, and are proof of the supreme quality of management of the funds in their respective categories.

 

 

KD Funds, the first management company in Slovenia, established in 1994, also manages the first Slovenian mutual fund, KD Galileo. From its very beginnings, KD Funds has been committed to the highest standards of excellence, which is confirmed by the awards presented both in Slovenia and abroad.

 

This year, five stars – the highest award – for three- and five-year periods went to the following funds:

KD Rastko, Europe Equity Fund,
KD Bond, EUR.

 

 

Luka Podlogar, President of the Management Board of KD Funds, is genuinely happy about the new awards: “Winning the Best Fund Manager award for the third consecutive year, we have proven once more that we can be proud of a team of top qualified managers with immense expertise. We have achieved this thanks to our professional and high-quality management, which is the true basis of all our endeavours. This is recognised by our investors, too.”

KD Funds becomes the general sponsor of the Tina Mrak and Veronika Macarol Sailing Team

KD Funds, the first Slovenian asset management company, signed up to cooperation with the two superb Slovenian sailors for the period up to 2020. Sailing is a sport marked by excellence, long-term focus, passion, winning, and team spirit. These are exactly the values subscribed to by KD Funds.

Luka Podlogar, the President of the Management Board of KD Funds, says: “Sponsorship at the top level of sport is certainly bringing advantages to all parties involved, such as reputation, respect and – the most important of all – support for athletes who can set an example to us all through their conduct, devotion, passion and perseverance. We are proud about concluding cooperation with a team as excellent as Tina, Veronika and Tomaž. We hope our support will help them reach their goal, which is to win the Olympic gold medal.”

Tina Mrak-Veronika Macarol Sailing Team (photo: Bor Dobrin)

For the third consecutive year KD Funds has won the prestigious World Finance award for best investment management company in Slovenia

KD Funds also won the award in 2015 and 2016, convinced the panel with both its long-standing achievements – the company is celebrating its 25th anniversary this year – as well as its results for last year, notably through the quality of its service, management performance, care for investors and risk exposure management. The judging panel has been presenting the awards since 2007, celebrating the very best companies in the industry with the ability to outperform the market, offer exceptional customer support and generate returns for their investors.

Investment Management Awards recognise companies making the most significant progress, thereby contributing to the industry’s development through their achievement, innovation and overall brilliance. The size of a company is not relevant, what counts is its business and professional performance. This year, Investment Management Awards were presented to companies that proved themselves agile last year, even in an ever changing economic climate.

“KD Funds is the oldest Slovenian management company, building long-term relations with investors based on trust and loyalty. The many domestic and international awards we have won are mostly recognition of our past efforts, the high quality of our investment management, products and services as well as the excellence and expertise of the company and its teams. The World Finance award places us on the map of the very best management companies, whilst also motivating us to set even higher goals. It confirms our belief that a key advantage in a rapidly changing business environment is the ability to adapt to changes quickly”, says Luka Podlogar, President of the Management Board of KD Funds.

All winners are listed in the July–August edition of World Finance, and at: https://www.worldfinance.com/awards/investment-management-awards-2017.

KD Funds – Best Management Company with best Fund Manager

Aleš Lokar received four Zvezdonos awards for management of the KD Galileo and KD Rastko funds in three- and five-year periods. Two other members of the managers’ team of KD Funds, the best management company, were ranked among the top 11 managers in Slovenia: David Zorman (4th place) and Primož Cencelj (8th place).

KD Funds, the first management company in Slovenia established in 1994, also manages the first Slovenian mutual fund, KD Galileo. From its very beginnings, KD Funds has been committed to the highest standards of excellence, as confirmed by the many awards presented both in Slovenia and abroad.
This year’s highest award – five stars – went to the following winning funds:

for a three-year period:
• KD MM, money market – EUR.
• KD Galileo, mixed – global flexible.
• KD First Selection, equity – global.
• KD Rastko, equity – European.

for a five-year period:
• KD MM, money market – EUR.
 KD Bond, bond – European.
• KD Galileo, mixed – global flexible.
• KD First Selection, equity – global.
• KD Rastko, equity – European.
• KD New Markets, equity – emerging markets.

Luka Podlogar, President of the Management Board of KD Funds, is genuinely happy about the new awards: “We have proven once more that we are on the right track. Our focus is on our customers and the returns we yield, and the awards simply testify to the excellence of our fund management team. We have been achieving this thanks to our professional and high-quality management, which is the core of all our endeavours. Our customers recognise this. Our goal for the future is to remain the leading management company in Slovenia and the region. We will do our utmost to justify the trust placed in us by our investors.”

One of the awards went to KD Galileo, the first and oldest Slovenian mutual fund that this year is celebrating its 25th anniversary. This pioneering fund successfully paved the way in the Slovenian fund market. From 1 January 1992 till today, it has been trusted by over 52,000 investors, and with the current EUR 125 million assets under management it is the third largest mutual fund in Slovenia. In the 25 years of its operation, the fund has seen and been part of the Slovenian capital market development, the rise of capital markets as well as the financial crisis and the gradual recovery.

Today, the KD Galileo global mixed flexible fund is one of the 16 subfunds of the KD Umbrella Fund. Its excellence in asset management has been affirmed with numerous domestic and international awards.

KD Galileo is managed by Aleš Lokar, who has 20 years’ experience in finance. He worked as an analyst, asset manager and stockbroker for the BPH and PM&A stockbroking companies. From 2005, he was employed as an asset manager in the KD BPD stockbroking company. Since March 2008, he has been Senior Portfolio Manager at KD Funds. He is in charge of managing our two oldest and biggest funds, KD Galileo and KD Rastko, as well as KD Dividend.

PRESS RELEASE: KD Funds strengthens its position in the region by acquiring a qualifying holding in Locusta Invest, d. o. o., Croatia

Through these activities, KD Funds is further strengthening its regional position, in pursuit of its strategy to become a leading asset management company in the region of South-East Europe (SEE). KD Funds, Ljubljana is one of the top Slovenian management companies. In 2014, the magazine Moje finance recognised it as the management company with the largest number of “top funds” over three- and five-year periods. At the end of 2014 KD Funds was managing the KD Umbrella Fund with its 14 subfunds. Four management companies of the Group KD Group operate outside of Slovenia, managing a total of 11 investment funds, including five mutual funds in Croatia, four mutual funds in Macedonia, and two closed-end investment funds in Bosnia and Herzegovina.

Total assets managed by the management companies owned by KD Group, d. d., amount to over EUR 715 million, of which EUR 630 million worth of assets are in Slovenia.

KD Funds – the management company with the highest number of “top funds” within the last three and five years according to the Moje finance magazine

In Slovenia 250 funds are marketed by 17 different providers. KD Funds is the management company that has been presented with the highest number of awards to date. This year’s winners with the best rating, i.e. five stars, include:

  • KD RASTKO, the best European equity fund in the last three years,
  • KD NEW MARKETS, the best emerging markets equity fund in the last three years,
  • KD MM, the best money market – EUR fund in the last five years,
  • KD EASTERN EUROPE, the best European emerging markets equity fund in the last three and five years,
  • KD INDIA – CHINA, the best Asia and Oceania emerging markets equity fund in the last three and five years,
  • KD BALKANS, the best Balkans equity fund in the last three and five years.
    As many as four KD Funds managers ranked among the best managers in the last three-year period, namely Luka Flere (3rd place), Sašo Šmigić (7th place), Aleš Lokar (8th place) and Primož Cencelj (12th place). Sašo Šmigić has consistently ranked on the best managers chart throughout the five-year period in which the Moje finance magazine has been presenting its awards. The main criterion for the best manager is their knowledge and/or the so-called ‘information indicator’, which shows by how much the manager has exceeded the relevant benchmark characterised by the same investment structure and risk. In the latter category, i.e. exceeding our own benchmark, KD Funds has been evaluated as the best management company; in a three-year period we exceeded the relevant benchmark with 10 out of the 11 assessed subfunds, and in a five year-period we did this with four of our subfunds.Luka Podlogar, President of the Management Board of KD Funds, says: “The awards along with the performance rates yielded by our funds testify to our team’s excellence in management, which makes us very proud. We are aware how important high-quality management is and are determined to do our best to justify the trust of our investors in the future, too.”

    (from left to right: Primož Cencelj, Aleš Lokar, Luka Podlogar, Grega Meden, Sašo Šmigić, Luka Flere)

    The Moje finance selection has been performed for five consecutive years. This year the magazine focused on 248 funds marketed in Slovenia (for three- and five-year periods) and awarded them stars for their achievements; 11 KD Funds subfunds were rewarded. The Best Fund Manager award went to David Zorman already in 2010, and to Primož Cencelj in 2013, both representing KD Funds. KD Funds was also recognised as the best management company in 2013. The aim of presenting the stars is to help investors choose from among the numerous funds marketed in Slovenia. The many awards presented to KD Funds by the Moje finance magazine are proof of our excellence and expertise.

Lower management fee for the KD MM, Money Market – EUR subfund as of 1 January 2015

The KD MM money market fund is an alternative to bank deposits, entailing investments in deposits of the best and safest banks as well as money market instruments. If you are looking for security and liquidity but are dissatisfied with the interest given on bank deposits, a money market fund is the right choice for you.

KD Funds calls out to bold teams across Slovenia for the second year running!

We have experienced 82 exciting competition days: final voting closed on 21 November, and on Monday, 24 November 2014, we announced the winner at a ceremony held at the Vivo Catering premises in Ljubljana. The winner of the Everything=Possible! competition is the Calypso project, and the winning idea of the Enterprise challenge, rewarded by the company Si.Mobil with EUR 5,000 worth of products and services, is the project BrightLes, or BrightWood in English. A lucky winner was also selected among those who voted for the project, and was rewarded with 6-months’ use of a Fiat 500c leased by the competition partner Veit Team.

The competition organiser, KD Funds, together with its partners and the 8-member jury has for the second consecutive year motivated Slovenia to think in terms of inspiring projects, set daring goals and create great teams. Luka Podlogar, the President of the Management Board, commented upon the announcement of the competition winner: “We at KD Funds are aware of our engagement with the local and global environment. We know that in addition to doing responsible business, taking up activities in the field of corporate responsibility is our obligation. We wish to co-shape the environment where bold projects expressing courage, clear goals and inspiration turn into success stories. For us, organising this competition means investing in development. And because everything is possible, we believe that the projects taking part in our competition may have the potential to become the future generators of economic growth in the region. The winners of today’s competition are aspiring researchers who believe that knowledge brings progress and that with every step they take in their projects they are pushing the boundaries of what is possible, millimetre by millimetre. Congratulations to the Calypso team!”.

The winners of the second Everything=Possible! competition are students from the Gimnazija Vič secondary school. For three years they have been working on a submarine that will make it possible to explore the very last undiscovered of our planet hiding deep below the surface of the sea. They called the submarine Calypso and sent it out to explore the Slovenian sea this summer. After the successful trial, the submarine will now be moved to a new hydrodynamic shell. It is the work of 40 courageous students who spend their afternoons in the school workshop, researching, inventing and pushing the boundaries millimetre by millimetre at each session. Miha Majetič, a student representing the winning Calypso project, says: “Of course we are thrilled about the prize. Seeing how many people support us and our work gives us even more enthusiasm to keep creating. We will first complete our Calypso submarine, which we plan to launch in the Slovenian sea in March next year. And then we will go on with new technical projects. We are definitely not running out of ideas, and we are already looking forward to new challenges”.

In addition to the main prize, an extra prize was presented in the Everything=Possible! competition. The Si.Mobil jury selected their own winner of the Enterprise challenge, namely the project entitled BrightWood, and presented the young innovators with a prize of EUR 5,000 worth of products and services. The project is about an innovative wood products line that creates a synergy of wood and light.

For more information about the project, go to http://www.vsejemogoce.si/