AlbaCore Capital Group (AlbaCore), a European credit specialist with ~USD91 billion in assets under management, has achieved the largest private realisation in its five-year history as it refinances its position in Modulaire Group and exercises its warrants.
AlbaCore Capital Group (AlbaCore), a European credit specialist with ~USD9 billion in assets under management, has achieved the largest private realisation in its five-year history as it refinances its position in Modulaire Group and exercises its warrants.
In 2018, AlbaCore underwrote a private bespoke solution for EUR335 million of junior debt with warrants for Modulaire Group, then known as Algeco Scotsman, anchoring a constellation of nearly a dozen related investments in the company totalling more than EUR620 million.
The closing of Brookfield Business Partners’ acquisition of Modulaire Group from TDR for ~USD5 billion, announced in June 2021, has resulted in the refinancing of AlbaCore’s debt position, as well as the realisation of its warrants, effectively putting an end to the four-year period of investing in the company.
