Cascade Investment Fund and UDP create Trust Developer LLC for residential projects
Cascade Investment Fund and UDP establish Trust Developer LLC for residential real estate projects (photo: ifcascade.com)
Cascade Investment Fund, represented by PJSC ZNKIF Cascade-Invest (controlled by Vitaliy Khomutynnik), and UDP Asset Management, acting on behalf of the Boulevard of Fountains closed-end non-diversified venture investment fund (controlled by Vasyl Khmelnytskyi), have jointly established Trust Developer LLC to implement residential real estate development projects in Ukraine.
The Antimonopoly Committee of Ukraine granted the relevant approval for the creation of the company on June 19 to PJSC Closed-End Non-Diversified Corporate Investment Fund Cascade-Invest (represented by AMC Brokbiznesinvest) and LLC UDP Asset Management, acting in its own name, on behalf and at the expense of the Boulevard of Fountains closed-end non-diversified venture investment fund.
"Trust Developer LLC has been established to implement real estate development projects in Ukraine, primarily focusing on the design and construction of modern residential complexes," said Vitaliy Khomutynnik, CEO of Cascade Investment Fund.
The Fund noted that demand among Ukrainians for high-quality, security-adapted housing remains strong.
"Despite challenging circumstances, we believe that the residential real estate segment has significant potential. That is why we consider investment in this sector both appropriate and strategically sound," Vitaliy Khomutynnik added.
According to Opendatabot, the ultimate beneficiary of PJSC ZNKIF Cascade-Invest is Vitaliy Khomutynnik. The company reported a net profit of UAH 464.9 million in 2024.
The ultimate beneficiary of UDP Asset Management, acting in the interest of the “Boulevard of Fountains” investment fund, is Vasyl Khmelnytskyi through UPD Holdings Limited (Cyprus).
