Kartesia is pleased to announce that the investment of the KCO III fund into the B Notes of the CLO vehicle AVOCA XIV have been fully repaid at par.
Kartesia is pleased to announce that the investment of the KCO III into the unitranche debt issued by Kufner was repaid at par following the exit of the Company by VMS. Kufner, founded in 1862 and headquartered in Munich, is a global manufacturer of technical textiles with a particular focus on interlinings used in apparel applications as well as in other technical textile segments, e.g. automotive seating.
Kartesia is pleased to announce that the investment of Altercap I and Altercap II funds into the senior and mezz debt issued by EDS was repaid at par following the sale of the Company to DPE. Euro-Druckservice GmbH (EDS), headquartered in Germany, is the leading provider of retail marketing communications solutions (around printed leaflets) in the CEE region. With more than 1500 FTEs across 8 sites in 5 countries, EDS has an unmatched footprint in the region and is able to serve its large and diversified blue-chip customer base (international retailers) locally.
Kartesia announced today that its two funds KCO III and KCO IV invested the subordinated notes of Oak Hill European Credit Partners VI as a meaningful minority investor. Oak Hill European Credit Partners is originally a US manager set up in 1991 focused on credit instruments, which currently manages over 30 bn$ of assets of which 13 bn$ in the performing loan space. More specifically, they raised a total of 26 CLO since inception of which 5 were issued in Europe (including 3 “2.0” CLOs).
Kartesia has enjoyed a milestone year in 2017. On the fundraising side, we closed Kartesia Credit Opportunities IV, a 862 million fund that continues Kartesia’s strategy of investing in primary and secondary debt and CLO transactions for small and middle market companies in Europe. We are delighted to welcome new world-renowned investors from the USA, Europe and Israel, and we are equally pleased by the renewed faith shown by our KCO III investors.
Foraco, a leading global mineral drilling services company facing the challenges of industry-wide overcapacity
Foraco International is a leading global mineral drilling services company that provides a comprehensive and reliable service offering in mining and water projects. Supported by its founding values of integrity, innovation and involvement, Foraco has grown into the world’s third-largest global drilling firm, with a presence in 22 countries across five continents.
Kartesia is pursuing its strategy of investing opportunistically in the collateralised loan obligation (CLO) market, thereby continuing KCO III investment thesis. In July, KCO IV closed its first CLO deal by acquiring the majority of the subordinated notes of BNP Paribas AM 2017 CLO, a new European CLO vehicle.
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