LONDON (Alliance News) - Chenavari Capital Solutions Ltd on Thursday said it produced a net asset value total return of 7.68% in the year ended September 30.
NAV per share rose to 99.41 pence from 97.90p over the course of the year, in respect of which the company paid dividends of 7.50p.
The company's mid-market share price was 98.25 pence on September 30, equivalent to a discount of 1.17% to NAV.
Chenavari Capital Solutions does deals with UK and European banks seeking to complete transactions as they shore up their balance sheets as they adjust to capital rules enforced since the financial crisis of 2008-09.
"The focus continues to be on risk sharing transactions with bank counterparties while opportunities in portfolio acquisitions and warehousing transactions will be considered if the risk return profile is attractive," investment manager Chenavari Investment Managers (Luxembourg) Sarl said.
"The pipeline looks strong and we believe it will continue to build throughout the first quarter of 2016 as issuers launch new transaction processes. This should result in multiple investment opportunities over the coming months. The transactions that we are currently working on include an Italian SME equity tranche, a corporate loan tranche from a French bank, a portfolio of Spanish performing mortgage loans and an Austrian SME mezzanine tranche," the investment manager added.
Shares in Chenavari were untraded on Thursday, having last traded at 91.32 pence.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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