Milton Samios

Investec in Australia has announced it had reached agreement to sell its local corporate and acquisition finance (CAF) loan portfolio to Metrics Credit Partners.

Investec Australia CEO and Country Head, Milton Samios, said: “We are pleased with this development as it will ensure local corporates continue to be served by a highly regarded local lender.

“It is a high-quality portfolio, which is a testament to the Investec approach to credit selection and risk management as well as to the Investec Corporate and Acquisition Finance Team (CAF), led by Simon Beissel, which has built this business over the past 10 years.”

The acquisition will cement Metrics Credit Partners as the country’s leading non-bank corporate lender, with a portfolio exceeding $6.5 billion.

Metrics’ Managing Partner, Andrew Lockhart, welcomed the acquisition, saying it would deliver enhanced investment opportunities for Metrics’ clients.

“This is a great outcome for investors because it will add to the diversity and liquidity across our funds and lead to an uplift in expected total returns. The credit quality of this portfolio is sound and provides a great opportunity to expand our relationship with Australian corporate borrowers.”

The portfolio comprises leveraged finance and fund finance loans to corporates and funds across business services, entertainment, retail, childcare, healthcare, mining services and financial services in Australia.

Investec’s Resource Finance and Project and Infrastructure Finance loan portfolios were not included in the sale process, which was run by the Investec Corporate Advisory team. This team is shortly to be spun out into a separate independent advisory boutique.

Investec, which has been in Australia for more than 23 years, announced at the end of last year that it was exiting the local market as part of its parent Investec Bank plc move to simplifying its business structure and focusing on its principal market in the UK.

The post Investec Australia’s corporate loan book sold to Metrics Credit Partners appeared first on AdviserVoice.

Georgina has over 25 years’ experience in the financial services and property industry. She gained early experience as a solicitor at Freehills and Mallesons Stephen Jacques and has held senior roles at AMP Capital Investors, Galileo Funds Management and Stockland.

More recently, Georgina has taken on a number of directorships, including as independent non-executive chairperson of Cbus Property, independent non-executive director of ASX-listed Viva Energy REIT and independent non-executive director of ASX-listed Tassal Group Limited.

Commenting on the appointment, Richard Longes, chairperson of Investec Property Limited, said: “Georgina brings significant global experience in corporate transactions, capital raisings, initial public offerings, funds management, corporate strategy and acquisitions and divestments to the board. Her skills compliment those of other directors and her appointment strengthens the independence of the board. We look forward to Georgina being an active contributor to the continued success of the Fund.”

Georgina holds a Bachelor of Arts and Bachelor of Laws.

The post Investec Australia Property Fund announces new independent non-executive director appeared first on AdviserVoice.

Eco Energy World has secured an A$10m development finance facility from Investec.

Investec Australia Limited’s Infrastructure Finance & Investment team has added to its local funding of green energy by helping a UK developer of solar projects expand in Australia.

Eco Energy World, a UK based renewables developer focused on global development of solar projects, has secured an A$10m development finance facility from Investec. Eco Energy World Group was founded in 2008 by cleantech entrepreneur Svante Kumlin and has pledged to develop a minimum of 1GW of solar projects in Australia by 2019.

The Investec facility will help fast track the development of Eco Energy’s already well advanced Australian portfolio of Queensland solar projects totaling in excess of 900MW of potential capacity. The facility will be utilised to fund late-stage development costs including network studies, grid applications fees and land acquisition payments.

Eco Energy’s development approved solar projects include the Chinchilla (20MW), Yarranlea (37MW), Aramara (130MW), Broadlea (100MW) and Bouldercombe (278MW) solar farms. Several of the projects are expected to reach financial close using a “merchant” revenue model and Eco Energy is in discussions with various counterparties for longer term offtakes for the remainder.

Eco Energy’s Managing Director, Pavel Tyle, said, “We are thrilled to have closed the financing transaction with Investec, it puts us in a very good position to achieve our 1GW by 2019 target here in Australia. Solar is a very cost-effective energy solution for Australia and we are excited to be part of this transformation of Australia’s energy mix.”

Investec is a specialist financier with significant expertise in the renewable sector. It is a subsidiary of Investec Bank plc and is part of the broader Investec Bank group. Locally, Investec has developed, advised on, or financed in excess of 1GW of solar and wind projects including all three stages of Hornsdale wind farm, the Collgar wind farm and the Oaklands Hill and Cooper’s Gap wind farms.

“Investec is delighted to have assisted Eco Energy World with this unique debt facility, which will enable them to complete the development of a number of their late-stage projects and focus their resourcing and efforts in further expanding their development portfolio” said Jeff Law, Head of Infrastructure Finance & Investment at Investec.

“Investec takes a bespoke approach to lending, particularly in the renewables space where we realise that no two projects or developers are the same. Investec prides itself on being flexible and efficient in the way it approaches opportunities,” Mr Law added.

The post Investec Australia supports Australian green energy sector appeared first on AdviserVoice.

Milton Samios

Investec Australia Limited yesterday announced its investment in investor platform business Wholesale Investor Pty Limited (Wholesale Investor). Wholesale Investor’s platform introduces emerging companies to sophisticated high net worth and professional investors in Australasia.

Investec has acquired a substantial interest in Wholesale Investor which makes it one of the largest shareholders in Wholesale Investor.

Wholesale Investor was established in 2008 and has built a large following in Australasia amongst sophisticated investors with over 13,000 subscribers in Australia and Asia. The business operates as an online-led intermediary, connecting companies and investors.

Investec Australia CEO Milton Samios said: “We are excited about our investment in Wholesale Investor and to further enhance our offering to growth and emerging companies.

“We are particularly attracted to Wholesale Investor’s overseas events and connectivity which aligns with our businesses in the UK and Hong Kong,” he said.

David Phillips and Hein Vogel from Investec’s Emerging Companies business added: “We have a strong history of working with and backing entrepreneurs and growing businesses.

“Our investment into Wholesale Investor is an extension of our presence within this ecosystem. Together with Steve and his team at Wholesale Investor, we are looking forward to continue helping emerging companies find capital and investors.”

Wholesale Investor Founder and CEO Steve Torso said: “We are delighted about the opportunity to work with Investec Australia and look forward to growing our business with Investec as our partner. Investec’s international presence, along with their focus on emerging companies and entrepreneurs matches our enthusiasm for this segment of the market.”

The post Investec Australia invests in Wholesale Investor appeared first on AdviserVoice.