Northern Horizon Capital, the management company of Finland's closed-end Baltic Horizon Fund, has executed a number of management changes.
Edvinas Karbauskas has been elected as a new member of the management board of Northern Horizon Capital, starting 3 January for a period of four years. Karbauskas is also appointed as co-fund manager of Baltic Horizon Fund together with Tarmo Karotam, the current fund manager.
Algirdas Vaitiekunas, a long term member of the management board of Northern Horizon Capital, will resign from the management board, with his last date of office being 2 January.
Since joining Northern Horizon Group in 2018, Karbauskas has worked as an investment manager and head of fund controlling. Prior to that, he worked as a fund controller in the Northern Horizon Group.
Previously, Karbauskas 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,' said Baltic Horizon's Karotam.
Karbauskas is currently a member of the management boards of BH Europa, BH Meraki, BH Domus, BH Northstar and BH Duetto.
As of 3 January 2023, the management board of Northern Horizon Capital AS will comprise Tarmo Karotam as chairman of the board plus Aušra Stankeviciene and Edvinas Karbauskas.
