Lindorff has agreed to enter into separate strategic co-investment partnerships with CarVal Investors and AlbaCore Capital. CarVal Investors and AlbaCore Capital intend to deploy up to €350m in aggregate as part of the co-investment partnerships, to be invested in unsecured non-performing loans in Europe.
CarVal Investors is a leading global alternative investment fund manager focused on opportunistic and credit-intensive assets and market inefficiencies. The firm, which was founded by Cargill in 1987, has approximately €10 billion in assets under management. CarVal Investors will deploy this investment on behalf of funds it manages.
AlbaCore Capital, founded in 2016, is a European asset manager focused on investments in public and private credit markets. AlbaCore Capital has a long term approach to investing based on fundamental research and relative value across credit markets and asset classes.
CarVal Investors and AlbaCore Capital have signed separate commitment letters to Lindorff in respect of their co-investments, subject to final documentation.
Lindorff CEO Klaus-Anders Nysteen said “These co-investment partnerships are another milestone in our growth strategy – it will allow us to leverage the opportunities we see in the market for non-performing loan portfolios”.