Appointment of Eric Youngblood as CFO and Nikolaj Larsen as Managing Director, Head of Strategic Investments
1 June 2006
ACP Capital Ltd announces the appointment of Eric Youngblood as Chief Financial Officer.
Eric (aged 43) has 18 years experience in Global Structured Finance, primarily in Securitisation, most recently at Nomura International plc where he was the Head of Asset-Backed Securitisation for the Asset Finance Group ("AFG").
Prior to Nomura, Eric was Director of Securitisation at CDC IXIS Capital Markets, where he was responsible for developing international securitization activities outside of France. Earlier in his career he was also Managing Director, Head of Structuring at Bear Stearns in both Madrid and London and Head of Asset Securitisation for Commerzbank in London.
During his career, Eric has been involved with transactions in, amongst others, the following sectors: residential and commercial mortgages, consumer loans, corporate loans, equipment leases, aircraft leases, trade receivables, government receivables and utility stranded costs, in more than 10 jurisdictions internationally.
ACP Mezzanine
It is intended that ACP Mezzanine will be a focused mezzanine provider specialising across the entire mezzanine loan spectrum, predominantly in the real-estate asset backed and leveraged loan sectors. Alongside the mezzanine loans provided for the Transaction, ACP is completing a number of further mezzanine loans totalling circa Euro 15m that will form part of ACP Mezzanine's initial portfolio, prior to its proposed admission to AIM (anticipated later this year). In parallel, ACP considers the underwriting of KFRI's mezzanine loans to be the first step in developing a German mezzanine lending subsidiary within ACP Mezzanine, to target the German small/mid cap market in general.
In addition ACP Capital Ltd announces the appointment of Nikolaj Larsen as Managing Director, Head of Strategic Investments.
Nikolaj (aged 31) has 6 years experience in Investment Banking. Prior positions include Head of Core Underwriting in the AFG team at Nomura International plc where he focused on asset backed deals such as the Earls Court and Olympia acquisition and nonasset backed deals such as the acquisition and financing of Nordsee GmbH for the German food retailer Kamps Food Retail Investment SA ("KFRI").
Recently, Nikolaj focused on increasing the value of KFRI for its shareholders by refinancing and acquiring the remaining stake in Nordsee GmbH. In addition Nikolaj has significant experience in M&A and equity advisory from his time at CSFB covering the European Energy sector. Commenting on both appointments Derek Vago, CEO of ACP Capital, said: "We are delighted to welcome both Eric and Nikolaj, they have substantial experience and will be a great asset to the company, particularly when we embark on the launch of our first £100m plus managed fund.
"Notes to Editors"
ACP Capital Ltd
ACP Capital is a Jersey based company, which listed on AIM in January 2006 and has a current market capitalization of approximately £70m. ACP is focused on providing an integrated finance approach (through the use of equity, mezzanine and/or senior debt) to businesses with strong asset backing and with recognised leadership positions in the sectors in which they operate. ACP is primarily seeking opportunities in Continental Europe, where opportunities for consolidation and growth are considerable.
ACP also intends to launch a series of alternative investment vehicles in primarily niche sectors focused on both asset-backed and non asset-backed investments by being a provider of funding across the entire capital structure. It will also act as fund manager for these vehicles, effectively establishing itself as an alternative investment and fund manager. The first such fund is ACP Mezzanine Limited, proposed to be listed on AIM later this year. It is ACP's stated aim to launch one new managed fund targeting a niche product sector each year.
Such vehicles will enable ACP to be a strategic investor and/or partner with companies who operate in sectors where ACP can provide both strategic advice and the funding described above.
ACP Capital has a highly experienced international management team. Derek Vago, CEO, was previously managing director and co-head of the AFG team at Nomura International plc where he was responsible for all balance sheet activities including equity, mezzanine, and senior debt financing across both asset backed and non assetbacked sectors. Among transactions he led for AFG were the acquisition of seven Center Parcs European assets and the acquisition of Earls Court and Olympia. Non executive directors include Heiner Kamps, founder of Kamps AG and a leading retail operator in Germany, and François Georges, former CEO of Pierres & Vacances. Mr. Kamps and Mr. Georges provide direct access to opportunities arising in Germany and France. In addition, Alan Braxton is a non executive director. Mr. Braxton is currently managing director of Presidio Partners, a leading international private placement advisor whose experience and expertise will help with establishment of the various listed investment funds.