ACP Mezzanine Ltd (ACPM.L: Quote, Profile, Research), an investor in European small and mid-size firms, plans to raise 150 million euros ($232 million) in a secondary share placement to fund a strong deal pipeline, it said on Wednesday.
AIM-listed, Jersey-incorporated ACP, which provides non-investment grade financing to small businesses in the
As at 2 May, ACP said its pipeline of advanced-stage investment opportunities amounted to about 350 million euros, which includes a joint venture with German financial consultant Conpair AG for a portfolio of German loan assets and funding for Leasecom, a French leasing business.
ACP said it expects to earn a post-leverage return on equity of over 20 percent across the portfolio of identified opportunities.
Together with its existing investments, ACP Mezzanine said it expects to achieve, by the fourth quarter, an annual dividend yield in excess of 15 percent. (Reporting by Hsu Chuang Khoo; Editing by Rory Channing)