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      Kartesia Asset Finance deploys €88m across first three KAF III investments

      Kartesia Asset Finance (KAF) has invested €88m across the first three transactions from its KAF III fund, financing aviation, maritime and logistics assets in Europe and the US, according to a statement from the firm.

      The investments follow a recent close that brought the fund to €366m against a €500m target. Commitments include €50m from the European Investment Fund, with institutional investors accounting for more than 80% of its LP base.

      In May, KAF provided €17m to refinance three helicopters used for search and rescue operations in Spain. The junior financing increased advance rates and reduced equity requirements for an aerospace operator with which KAF completed five transactions across its first two funds.

      The fund subsequently provided €36m across June and August to finance logistics assets in Spain, including semi-trailers and refrigerated containers. The financing supports the borrower’s fleet expansion and is aligned with the climate objectives of the European Recovery and Resilience Facility.

      In September, KAF completed a €35m refinancing of specialised vessels serving the US offshore wind sector. The sponsor-backed transaction included security over the underlying assets and supported a restructuring of the borrower’s capital structure.

      KAF, managed by Flexam Invest, specialises in financing tangible mobile assets for European mid-cap companies and SMEs.

      Managing Partner Fabrice Fraikin said the platform aims to deploy between €300m and €400m annually across its asset finance strategies, targeting transactions where structuring complexity can generate additional spread over traditional corporate lending.

      Chairman and Managing Partner Florian de Sigy said KAF has completed deployment of its FTAIF II fund and recruited several senior investment professionals, with further hires planned.

      KAF III expects to complete a further 15 to 20 transactions secured against assets essential to borrowers’ operations. The investments benefit from European Union support under the InvestEU Fund and the ALSD Instrument.


      Source: Private Equity Wire
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