It is planned that from 1 February 2025, real estate and investment management expert Andrius Uždavinys, who has previously held the position of Fund Manager at the company, will take up the position of Head of EIKA Asset Management. With more than 18 years of work experience, A. Uždavinys has been working at EIKA Asset Management since its establishment and will replace Viktorija Orkinė. This candidacy still needs to be approved by the Bank of Lithuania.
New funds in the plans
Currently, Andrius Uždavinys is approved as a fund manager at EIKA Asset Management and can temporarily act as a director, while the regulator is awaiting approval for his candidacy for a full-fledged director. A. Uždavinys, who will assume the new position of director, says that the company has great growth potential, as evidenced by both its performance and the general market situation.
“2024 was an important year for EIKA Asset Management in terms of results, when we completed the full investment cycle of the first fund, EIKA Residential Fund (ERF). ERF stood out as one of the most successful real estate funds on the market, as it ensured investors an annual return of more than 30 percent, after deducting management and performance fees,” says A. Uždavinys.
He predicts that the sentiment in private equity markets will remain positive in 2025, allowing market participants to “breathe more freely.”
“We are planning active expansion in the Central and Eastern European region, focusing mainly on the Polish market. This year we have planned the development of two modern logistics warehouses there, their total area will exceed 66 thousand sq. m. We will also seek to strengthen partnership relations in Europe, strengthening regional positions and ensuring mutual growth, developing strategic partnerships with strong and reliable local market participants,” says A. Uždavinys.
He also reveals that EIKA Asset Management plans to launch at least two new funds, one for residential projects and the other for infrastructure development. Both funds are currently being structured.
Orkinė steps down from management, but remains an investor
Viktorija Orkinė announced her plans to step down from her position as CEO and board member of EIKA Asset Management, having decided to change her career path and work independently. Despite her departure, she and her family will remain as investors in the funds managed by EIKA Asset Management.
“Changes are a natural part of a company’s growth and development – we are confident that the new manager will not only ensure continuity of operations, but will also bring new ideas that will help the company successfully continue its planned development and growth. We sincerely thank Viktorija for her contribution and wish her success in her new career areas,” says Indrė Dargytė, member of the board of EIKA Asset Management.
Continue planned expansion
The company EIKA Asset Management recently started cooperation with Europe’s largest logistics real estate developer Panattoni. This year, it plans to create at least 2 new funds, and by 2026, it plans to double the area of managed assets.
EIKA Asset Management, which has been operating since 2016, manages 7 funds, and currently employs 17 people. The total value of assets managed by EIKA Asset Management is 145 million euros, the area of managed assets is 61 thousand sq. meters, more than 1,000 apartments and other premises are currently being developed in projects managed by the funds, and the funds’ planned investments in 2025 are 76 million euros.