Carta Capital achieves three successful exits
Thursday, July 14, 2011 at 06:37AM Carta Capital Limited (“Carta Capital”), the UK lower mid-market mezzanine investor has exited three of its investments, each generating a significant cash multiple return and IRR.
Carta Capital has exited three investments, each generating a cash multiple of 1.6-1.8x and an IRR of 14-18%. The businesses exited were: Hobbs Holdings No 1 Ltd (“Hobbs”), Refresco Holdings BV (“Refresco”) and KG Group Holdings Ltd (“Kurt Geiger”).
“We are delighted to announce the exit of another three investments from our portfolio, supporting the attractive risk-return prospects of mezzanine in the lower mid-market. We believe that the lower-mid market is an attractive space for mezzanine lending due to the high levels of deal flow combined with lower competition with more conservative deal structures. In particular, the current environment makes it a particularly interesting time for mezzanine investment where the aftermath of the recent financial crisis has further reduced competition and the willingness and the ability of the banking sector to lend to the lower mid-market.” says Alison Goold, Managing Partner of Carta Capital.