A recurrent question from investors in our fundraising meetings across strategies is how we manage underperforming or defaulting assets. Let’s face it: in the private credit asset class restructuring is an intrinsic part of the business and a reason why investors pay management fees. And ultimately, what sets apart fund managers.

In July this year, Kartesia provided a senior financing package of up to £41m to support Talenthouse AG with its acquisition of the remaining shareholding in Coolabi Group Ltd (“Coolabi”) and fund future growth plans. Coolabi is a media group that specialises in the creation, development and brand management of children’s and family intellectual property rights (IP).

In August this year, Kartesia announced their investment in “Project Morel”, the acquisition and merger of Okechamp S.A. in Poland and Greenyard Prepared Foods in the Netherlands to form Okechamp Group. Kartesia committed a total of €78m debt and equity from its Kartesia Credit Opportunities Funds (KCO) IV & V. The capital injection was made with the aim of strengthening the group’s balance sheet, allowing it to pursue further organic and external growth and accelerate its international development. Headquartered in the Netherlands and Poland, Okechamp Group is Europe’s leading producer of highest quality preserved mushrooms with an annual production volume of over 115kt. The company operates a large mushroom farming unit in Poland and two mushroom processing units in Poland and the Netherlands, as well as distribution capabilities across more than 40 countries on six continents.

This year has been a transformational one for Kartesia’s Senior Opportunities (KSO) strategy across Europe, which now has on-the-ground representation in all of our key markets – Spain, France, the DACH region, the Benelux and the UK – and has closed transactions in a number of these jurisdictions.

As highlighted in our Edito, the ability to be flexible and agile is at the core of our business model and allows us to add significant value for our portfolio companies, which has been particularly important given the events of the past few months amid the coronavirus pandemic. The examples of Tunstall and International Cookware exemplify our approach and the variety of ways we can support businesses through difficult circumstances.

Kartesia wrote a new page in Vitaldent’s history by replacing its former debt provider and making new resources available that shall boost the growth of the leading dental operator in Spain and Italy. Jaime Prieto, Managing Partner, and Tomás Neuhaus, Associate Director, explain the steps and implications to get to this new scenario.