Lithuania

Stepukonis embezzled EUR 40.4 mln from BaltCap fund companies, investigation shows

February 28, 2024

Sarunas Stepukonis embezzled 40.4 million euros from BaltCap Infrastructure Fund’s portfolio companies, BaltCap said on Tuesday, citing the results of an internal investigation conducted jointly with a team of external [..]

Lithuania

Hanner set to replace BaltCap in Lithuania’s national stadium project

February 5, 2024

Arvydas Avulis’ property development company Hanner is taking over Lithuania’s National Stadium project from BaltCap, its current concessionaire and builder, Vilnius Mayor Valdas Benkunskas said on Friday. “The main news [..]

Lithuania

BaltCap sues Stepukonis, gambling companies for EUR 16.6 mln

January 26, 2024

BaltCap, a Baltic private equity fund manager, is seeking more than 16 million euros from Sarunas Stepukonis, a former partner with BaltCap Infrastructure Fund (BInF), and Olympic Casino Group Baltija [..]

Estonia

BaltCap fund theft causes several Estonian pension funds millions in losses

January 23, 2024

The Swedbank, LHV, and SEB pension funds lost several million euros due to a partner’s misconduct in the BaltCap investment fund in Lithuania last November. The BaltCap fund holds 0.1 [..]