View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
November 4, 2020

Asset manager Waterfall places £639m bid for Alternative Credit Investments

By Verdict Staff

US-based Waterfall Asset Management has agreed to acquire Alternative Credit Investments (ACI) in an all cash transaction valued at £639.2m.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

Under the terms of the deal, each ACI shareholder will receive £8.70 in cash for each ACI share as well as an interim dividend of up to £12 per share for the third quarter of the year.

Commenting on the deal, ACI chairperson Simon King said: “The Board welcomes and unanimously recommends the Offer from Waterfall, which we believe is the best outcome for shareholders, providing liquidity and certainty.

“The offer already has the support of holders of 40.8% of the Company’s shares and we urge undecided shareholders to consider the advantages of this firm cash offer against the alternatives in highly uncertain markets.”

Waterfall, which specialises in acquiring, managing, servicing, and financing commercial loans, has been named as ACI’s delegated portfolio manager since October this year.

The company will acquire ACI through its newly incorporated unit Waterfall EIT UK.

Waterfall partner Patrick Lo said: “We are very pleased to announce this Acquisition with the unanimous recommendation of the Board of ACI.

“As an experienced asset manager in the structured credit market, we believe that the Acquisition represents an attractive opportunity to secure a portfolio of assets that fits with our existing investment strategy, while seeking to provide ACI Shareholders with certain and timely liquidity at an attractive price.”

The deal, subject to the satisfaction of the conditions, is expected to close during the first quarter of the next year.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International