Baltic Horizon Fund Shifts Leadership After Two Decades
Event summary
- Tarmo Karotam steps down as Fund Manager and Chairman of Baltic Horizon Capital AS on April 30, 2026, after 20 years in the role.
- Edvinas Karbauskas, current Co-Fund Manager, takes over as Fund Manager and Chairman of the Management Board.
- Karotam cites recent market challenges and stable foundation as reasons for transition.
- Supervisory Board expresses confidence in new management to enhance portfolio competitiveness.
The big picture
Baltic Horizon Fund, the first listed real estate investment fund in the Baltics, undergoes a leadership transition amid recent market challenges. The change comes as the fund seeks to strengthen its portfolio competitiveness, reflecting broader trends in real estate investment management where long-term leadership transitions can signal shifts in strategic direction. The fund’s AUM and market positioning will be key indicators to monitor in the coming quarters.
What we're watching
- Portfolio Strategy
- How the new management will prioritize enhancing the competitiveness of the Fund’s investment portfolio.
- Market Positioning
- Whether the leadership change will impact Baltic Horizon Fund’s positioning in the Baltic real estate capital markets.
- Investor Confidence
- The pace at which investor confidence is maintained or strengthened under the new leadership.