The Company is an alternative investment fund within the meaning of the Alternative Investment Fund Manager Directive and is a reserved alternative investment fund within the meaning of the RAIF Law.
About AnaCap Financial Europe
AnaCap Financial Europe S.A. SICAV-RAIF invests in a diverse range of primarily non-performing debt across Europe. The Company has the capability to price and purchase a wide range of debt, including portfolios of unsecured and secured consumer, SME and mortgage debt, among others. The company was formed on the 28th June 2017 and acquired a portfolio of assets from existing AnaCap Credit Funds on the 21st July 2017. As at 30 June 2019 AFE had Estimated Remaining Collections “ERC” over 84 months of €550.1m with 41% of ERC in Italy, 21% in Portugal, 24% in Spain and the remaining ERC derived from investments in Romania, Poland and the UK. In 2018, the Company invested €162m in acquiring new portfolios.
AFE benefits from a wide network and extensive track record in origination, pricing and servicing that AnaCap has developed since 2005 in the European financial services sector, including as an early mover into each of its core geographies as the local debt sale market developed to include a wider range of both unsecured and increasingly secured asset types. The Company’s investment approach is further underpinned by AnaCap’s proprietary digital platform, Minerva, which provides the ability to harness highly granular data and intelligence converting it into actionable information.
News & Events
Tuesday
19th
November 2019
09:00 . Q3 2019 Financial Results Release
AnaCap Financial Europe S.A SICAV-RAIF released the Financial Results for Q3 2019.
Wednesday
16th
October 2019
03:30 . Changes to Anacap Financial Europe S.A. SICAV-RAIF Investment Recommendation Committee
Friday
6th
September 2019
09:00 . AnaCap Financial Europe to meet and present with investors at the J.P. Morgan 2019 European High Yield & Leveraged Finance Conference
AnaCap Financial Europe S.A. SICAV-RAIF (“AFE”) announces today that it will be meeting and presenting with investors at the J.P. Morgan 2019 European High Yield & Leveraged Finance Conference on 6th September 2019.
Bonds
AnaCap Financial Europe S.A SICAV-RAIF
€325,000,000* Senior Secured Floating Rate Notes due 2024
Three-month EURIBOR plus 5% per annum, reset quarterly
Interest Payment dates quarterly on February 1 , May 1,August1, and November 1, commencing on November 1 2017
Trade Date 13 July 2017
Maturity August 1 ,2024
*During Q2 2019 €17,500,000 Senior Secured Floating Rate Notes were purchased and cancelled with immediate effect.
Management and Governance
Board of Directors
The persons set forth below are the current members of the Board of Directors of the Company:
Chris Ross-Roberts
Chris became a Director of the Company on June 28, 2017.
Chris was previously the Chief Financial Officer of Cabot Credit Management from July 2012 to December 2015. Prior to joining Cabot Credit Management, Mr. Ross-Roberts worked as the group finance director of BPP Holdings PLC (included in the FTSE 250 Index), which was sold to Apollo Global, Inc. in 2009, following which he assisted with the integration of BPP Holdings PLC into Apollo Global, Inc. He has over 22 years of board level experience in business services, including a period as chief executive officer. Chris has strong experience in acquisitions and disposals, including two public- to-private transactions, and for private equity portfolio companies. Chris holds a BSC in Accounting and Finance from Loughborough University.
Edward Green
Edward became a Director of the Company on July 18, 2018. Edward joined AnaCap in 2007 and is Chief Operating Officer for AnaCap’s credit investment strategies. He is responsible for oversight of the operational delivery of portfolio performance, incorporating master servicing, servicer selection and due diligence and ongoing engagement and review of all servicers and advisors. Ed was previously a Managing Director in the Business Services team where he was driving the operational transformation and day to day engagement with portfolio companies within AnaCap’s Private Equity portfolio. This included building Cabot Credit Management into the UK’s leading NPL debt purchasing company, following the merger of Apex Credit Management and Cabot Financial. Prior to joining AnaCap, Ed worked as a management consultant for Oliver Wyman, where he led a broad range of assignments across both the banking and insurance sectors and advised senior management teams in the UK, US, Continental Europe and Scandinavia Ed is a CFA Charterholder and holds a Master’s of Philosophy from the University of Cambridge.
Audrey Lewis
Audrey became a Director of the Company on June 28, 2017. Audrey is a UK qualified Chartered Accountant and Chartered Company Secretary with over 20 years experience in the banking and financial services sector in Bermuda and Luxembourg. She has been acting as an independent director for Luxembourg regulated funds and domiciled companies, linked to private equity funds and funds regulated and listed in other jurisdictions, for 10 years. She has experience in structures investing in real estate, European infrastructure, real estate debt, distressed debt and business turnarounds. Prior to this, Audrey worked at HSBC Security Services Luxembourg S.A., formerly the Bank of Bermuda Luxembourg S.A. Audrey is a member of the UK Institute of Directors and has the IOD Diploma in Company Administration and is a Certified Director with the Institut Luxembourgeois des Administrateurs (ILA). Audrey has a BCom (hons) degree from Birmingham University, England.
Hugo Neuman
Hugo became a Director of the Company on June 28, 2017. Hugo is a qualified lawyer in Dutch Civil and Tax law with over 25 years experience in the corporate services and financial services sector in The Netherlands, Switzerland, United Kingdom and Luxembourg. He has been acting as an independent director for Luxembourg domiciled companies and regulated funds, linked to private equity funds, pension funds and listed companies mainly from North America and Europe, for 12 years. These Luxembourg companies and funds invest in a wide range of assets including real estate in various European jurisdictions, energy production and infrastructure, debt portfolios, including distressed debt and structured finance products, and various commercial businesses. Hugo worked for a corporate services provider in various European jurisdictions with a focus on corporate finance. Hugo is a member of the Institut Luxembourgeois des Administrateurs (ILA) and holds two degrees from Leiden University, The Netherlands.
Yazid Oudina
Yazid became a Director of the Company on 31 July 2019. Yazid is a Client Service Manager at IQ EQ Fund Services (Luxembourg) S.A. where he is responsible for the oversight of the operational delivery. He is an executive professional in Private Capital activity based in Luxembourg with a demonstrated history (12 years) working in the Investment Management industry sector and joined IQ EQ in 2018. Yazid previously worked in the fund industry, covering core services across all private capital activities (Real estate, Infrastructure and Private Debt) with a focus on corporate governance. Yazid holds a Bachelor of Business Administration from the University of Metz, France.
Company’s AIFM
Carne Global Fund Managers (Luxembourg) S.A. is a public limited company (soci´et´e anonyme), incorporated and existing under the laws of Luxembourg.
Portfolio Manager
The Company’s AIFM has delegated in full the portfolio management of the Company’s assets to the Portfolio Manager (AnaCap Investment Manager Limited) pursuant to an investment management agreement dated June 28, 2017 between Carne, the Portfolio Manager and the Company (the ‘‘Investment Management Agreement’’).
Investment Adviser
The Portfolio Manager will receive advice and assistance in the performance of its duties from the Investment Adviser (AnaCap Financial Partners) pursuant to an advisory agreement dated June 1, 2015 between the Portfolio Manager and the Investment Adviser (the ‘‘Advisory Agreement’’).
AnaCap Financial Partners requires unanimous approval from its Investment Recommendation Committee prior to making a recommendation to the Portfolio Manager. The members of the Investment Recommendation Committee are:
Joe Giannamore
CEO-CIO
24 years of experience
Joe founded AnaCap Financial Partners in 2005 as Europe’s first specialist private equity firm focusing on the financial services sector. Since inception, the partnership has grown from €300 million to more than €3 billion of assets under management, and AnaCap is now the leading financial services investor in Europe, owning three insurance businesses and banks in five jurisdictions.
Before founding AnaCap, Joe co-founded auto finance company On:line Finance, which was the first investment grade rated start-up in Europe and the first lender over the internet in Europe. From launch, On:line grew to over a billion dollars in assets within five years, and was one of the ten fastest growing companies in the UK during that period. On:line was subsequently acquired by GMAC UK, the UK finance arm of General Motors, with Joe becoming CEO of GMAC UK. Previously, he was a Vice President at Salomon Brothers.
Justin Sulger
Partner - Head of Credit
22 years of experience
Justin joined AnaCap shortly after inception in July 2006 as part of the Business Services team, before building out AnaCap’s Risk & Liability Management function and launching AnaCap's Credit investment strategy. He continues to manage AnaCap’s Creditoperation, which has grown to more than €1 billion of assets under management since its launch in 2009.Prior to joining AnaCap, Justin was a Vice President
Prior to joining AnaCap, Justin was a Vice President in Morgan Stanley's Securitised Products Group in London, focusing on debt structuring and principal finance. Justin began his career in Fixed Income at Goldman Sachs in New York before relocating toLondon. He also served as a Managing Director of Lunar Group, a private equity investor in China.
Chris Ross-Roberts
CFO – AnaCap Financial Europe
22 years of board level experience
Chris joined AnaCap Financial Partners LLP on 1st July 2017 and acts as CFO of the AFE business.
Chris was previously the Chief Financial Officer of Cabot Credit Management from July 2012 to December 2015. Prior to joining Cabot Credit Management, Chris worked as the group finance director of BPP Holdings PLC (included in the FTSE 250 Index), which was sold to Apollo Global, Inc. in 2009, following which he assisted with the integration of BPP Holdings PLC into Apollo Global, Inc. He has over 22 years of board level experience in business services, including a period as chief executive officer. Chris has strong experience in acquisitions and disposals, including two public- to-private transactions, and for private equity portfolio companies. Chris holds a BSC in Accounting and Finance from Loughborough University.
