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Entrepreneurial Investment Managers

Previous Property Investment Experience of the Group

Controlling stakes in property companies

Trigon started investing into property related opportunities in the Baltics in the mid-90’s through a fund vehicle advised by it. In the three companies listed below Trigon represented either majority or significant minority positions.

Estonian largest
construction group

Year of entry: 1996
Stake: 51%
Year of exit: 1999
Exited to Skanska

Merged with FKSM
in 1998


Year of entry: 1995
Stake: 30%
Year of exit: 2000
Exited to YIT

Baltic's largest
hotel chain

Year of entry: 1995
Stake: 40%
Year of exit: 2000
Exited to Lindstow

The founder and Chairman of Trigon Capital, Mr. Joakim Helenius, held either the position of Supervisory Board chairman or member in the companies. The above ownership stakes were divested in the early 2000s.

Direct property investments

In 2003, Trigon started investing directly into real estate by building a portfolio of exclusive apartments in the Tallinn old town. In 2005 the first real estate development project was launched to develop townhouses on the outskirts of Tallinn. The project involved acquiring land, design and construction of townhouses, and the subsequent sale of the properties. The project was completed in 2006.

Today the Group manages property projects in four countries (Estonia, Russia, Ukraine, and Croatia) across a portfolio that primarily includes development projects in both in the commercial and residential sectors. Six out of seven projects were acquired as agricultural land, but were later rezoned into their designated use (either residential or commercial land). The last agricultural land area is in the rezoning process with an expected completion date in 2013.

For more information, please see the Property Portfolio section.