The J&T Investments fund was established by the investment company of the J&T Group only last year. This year, however, at the end of the first quarter, it managed assets worth more than four billion crowns.
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According to information from SZ Byznys, a large transaction is currently being prepared, in which the co-founder of the J&T Group, Patrik Tkáč, will invest approximately ten percent of the shares he owns in the Energy and Industrial Holding (EPH) managed by Daniel Křetínský. This is a transaction in the order of tens of billions of crowns. Tkáč also heads the fund’s investment committee.
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“The fund is expected to have about a billion euros (approximately 26 billion crowns, editor’s note). Patrik Tkáč will invest about 10 percent of the EPH group in it, “said the financier, who did not want to publish his name. Another source confirmed the information to the paper.
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The head of J&T Investiční společnost Daniel Drahotský did not want to comment on the current activities of the fund. However, he confirmed that it will continue to grow. “The fund adheres to its philosophy and will invest in line with the strategy of the founders of the J&T Group. Other companies from e-commerce or companies managing infrastructure projects are likely to join the fund, “said Drahotský for SZ Byznys.
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Slovak financier and one of the founders of the J&T Group, Patrik Tkáč, returned to the shareholder structure of the Energy and Industrial Holding at the end of last year. Weaver currently owns 44 percent minus one share of the holding. The majority share still belongs to Daniel Křetínský and a group of managers who hold 56 percent and one share in EPH. Křetínský himself, who exercises managerial control over the holding, indirectly owns 50 percent of the company’s shares and one share.
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According to Drahotský, the J&T group has been establishing the fund for a very long time. “We do not limit investments by industry. Just like a hundred years ago, the railway was interesting and today no one is particularly craving for it, so we will adapt to the opportunities, “he added.
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Rohlík et al.
The fund already includes, for example, investments in the Rohlík.cz online store or a minority stake in Titan Freelancers, a leading Slovak provider of IT outsourcing services, or industrial real estate. It invests a substantial part of the assets of the J&T Investments fund in funds established by the group’s partners, ie a group of investors who have long been around J&T and informally call themselves the “J&T family”.
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“We are aiming for the long-term annual return of the fund in the area of bolder mixed to equity funds. The advantage should be purposefully lower volatility, because valuations in the world of private equity usually do not change as dramatically as on stock exchanges, “added Drahotský.
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The J&T Investments Sicav Qualified Investors Fund is J&T’s new private equity flagship. In January 2020, it was established for clients by the J&T Finance Group. J&T Investiční společnost was appointed the fund’s manager. Its shares have been traded on the Prague Stock Exchange since May 10 this year.
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The main focus of the long-term diversified portfolio is the areas of real estate, energy, media, tourism and leisure, e-commerce and the new economy sectors.
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Patrik Tkáč has recently been investing significantly on world stock exchanges through Vesa Equity Investment, which he co-owns with Daniel Křetínský. He has 53 percent in the company, the rest is owned by Tkáč. Together, they bought shares in the British Royal Mail or the German retail chain Metro.
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