Vantage Quattro Project delivered 32% IRR to the investors
PRAGUE, Feb. 12, 2021 /PRNewswire/ -- This success story of a special situation transaction begun in 2018 when consortium of partners comprising APS, Balbec Capital, and Nomura acquired VB-Leasing International Holding, a leasing company headquartered in Vienna with operational subsidiaries in Croatia, Serbia, Bosnia and Herzegovina and Slovenia with nearly 20,000 vehicles under management. The net asset value when the economic benefit passed to the partners was €111 million. Two years and one global pandemic later the project reached the completion after having delivered 32% IRR over the equity investment.
APS acted as the underwriter and manager for this deal. APS proved as capable of underwriting deals, processing them from beginning to closure, and managing such a challenging special situation successfully in favour of its partners (Nomura, Balbec). Vantage Quattro project demonstrated APS's expertise in the area of management and advisory services related to performing loans and leases with complex structures.
"This extraordinarily complex transaction confirmed our position as a leading investor and asset manager in special situations, in private equity, and in asset-backed loan portfolios in emerging Europe. I am very satisfied with our team's work on this deal. It's a huge team accomplishment, and we proved that we can manage knottier opportunities beyond NPL projects and portfolios," stated Martin Machoň, CEO of APS.
Vantage Quattro performed very successfully during the COVID-19 period and exceeded the original expectations of investors upon the exit milestone. Other financial risks were also well managed. As of now, all three out of four operational companies in Bosnia, Serbia, Slovenia, and Croatia have been sold and the last one with minor remaining exposure is pending completion.
Nomura is an Asia-headquartered financial services group with an integrated global network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its four business divisions: Retail, Asset Management, Wholesale (Global Markets and Investment Banking), and Merchant Banking. Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com.
Balbec Capital LP is a global private investment firm with expertise in sourcing alternative credit investments, with a focus on obligors or assets in bankruptcy proceedings, restructuring, or some other form of distress. Founded in 2010 by a senior management team that helped pioneer investment opportunities in consumer insolvency assets, Balbec capitalizes on its extensive transactional experience, global infrastructure, strategic partnerships and proprietary analytics. The Firm's global platform enables it to rotate capital to attractive risk-adjusted investment opportunities, while maintaining intense focus on capital preservation and mitigating downside risk.
APS is active in investments, debt portfolios management and recovery, and in real estate, chiefly in the South and Southeastern Europe, where it provides complex services in the areas of consulting, management of receivables, investment, and asset management. The company was founded in 2004 and is headquartered in Prague, Czech Republic.
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