Mezzanine Fund

This is one of the largest dedicated mezzanine funds in South Africa. It invests in credit assets that are typically subordinated to other tranches of debt, but still rank ahead of common stock or equity in a company.

Given that mezzanine assets are inherently more risky, we typically look to transact with companies that portray the following features:

• A market-leading company in stable, non-cyclical industries
• Companies with strong competitive advantages and robust barriers to entry
• Companies with good track records of consistent and predictable free cashflow generation
• Companies with strong shareholders of reference
• Companies with committed and incentivised management teams.

Our ability to structure innovative risk-funding solutions, as well as our strong relationships with a number of leading South African investors and companies, has contributed to this fund’s success.

This fund participated in the 2009 refinancing of the V&A Waterfront, the largest property transaction in Southern Africa at the time. Our most notable transactions with a range of high-profile companies are tabled below.