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Fort Estonia Advises Tuleva on Mandatory Pension Fund Manager Application

Fort Estonia Advises Tuleva on Mandatory Pension Fund Manager Application

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Fort has advised Tuleva Fondid AS on its successful application for authorization from Estonia's Financial Supervision Authority for its launch of mandatory pension funds, with simultaneous registration of two second-pillar pension funds.

According to Fort, "Tuleva Fondid AS serves as Estonia’s first and only pension fund manager which is owned by the pension savers themselves, and the capital requirement of which was fulfilled through crowdfunding. Furthermore, it serves as the first management company pursuing an exclusively passive investment policy. The novelty of the business model, the amendment of legal acts in the process, the desire to achieve both the issue of the authorization, and the simultaneous (usually a separate procedure) approval of the conditions of two pension funds and so on required innovative solution-finding from the entire team."

The Fort team was led by Estonian Partner Kirsti Pent, supported by Attorney Kristel Raamat.

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COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

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COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

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