Lindorff, the leading full-service credit management service company in Europe 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 EUR 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 EUR 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.
– These co-investment partnerships are another milestone in our growth strategy, says Lindorff CEO Klaus-Anders Nysteen, adding – it will allow us to leverage the opportunities we see in the market for non-performing loan portfolios.
Founded in 1898, Lindorff is the leading full-service European credit management service provider, offering services within debt collection and debt purchase as well as payment and invoicing services.
The company has 4300 employees in 13 countries with headquarters in Oslo, Norway. In 2015 Lindorff generated EUR 534 million in net revenue (2014: EUR 475 million).
Lindorff is majority owned by Nordic Capital Fund VIII. www.lindorff.com