Alantra generated revenues of €142.0m (+76.1%) and attributable net profit of €25.4m (+127.9%) in H1 2021
Date 27 July 2021
The Firm achieved record net revenues of €142.0m (+76.1%) driven by strong momentum across all business divisions. In Alternative Asset Management, net revenues reached €26.8m (+127.2%), due to an increase in fee-earning assets under management and a strong performance, resulting in success fees. Net revenues in Investment Banking reflected an unprecedented level of deal-making activity, reaching €90.8m (+63.6%); while Credit Portfolio Advisory net revenues also benefited from a stronger market momentum after a +92.0% increase, to €24.4m.
Operating expenses grew to €104.6m (+57.5%), due to an increase in variable retribution (+189.4%) related to the strong performance of the business, and higher fixed personnel expenses (+5.0%) and other operating expenses (+32.4%).
Net profit attributable to the parent reached €25.4m (+127.9%), of which €24.7m (+127.4%) correspond to the fee business, €0.2m (-86.2%) to the portfolio, and €0.5m to other results.
Alantra and its strategic partners raised its fee-earning assets under management to €14bn, out of which €2.3bn were from its consolidated businesses, and €11.7bn from the partnerships in which Alantra holds a significant stake.
The firm completed the first close of its Energy Transition Fund, raising €80m; and a €40m close of its newly launched Solar vehicle, aimed at investing in early-stage and ready-to-build solar energy projects.
Alantra’s Strategic Partnerships1 also delivered a strong performance in the first half of the year. Access Capital Partners and MCH Investment Strategies raised more than €600m, respectively; while Indigo Capital completed the first divestment in Italy, achieving more than 30% IRR, and announced the first senior hire in the country. Asabys Partners completed a final close of €87m, above its €75m target.
Alantra advised on 94 transactions worth c. €17bn year-to-date, a firm record, and continued to strengthen its specialized and diverse practice with the appointment of six senior professionals. Noteworthy transactions include the sale of Baird Capital’s Prescient Healthcare to Bridgepoint, Five Arrows’ investment in Sygnature Discovery, the sale of Aryzta’s North American business to Lindsay Goldberg for €850m, and the sale of gaming company ASPYR to Embracer Group for €450m. As a result of this strong performance, Alantra ranked as #1 independent advisor to European private equity houses and #3 independent advisor in Europe2.
Alantra participated in some of the most notable local capital markets transactions in Italy and Spain, including the IPO of Almawave and the reverse takeover by which Walterscheid Powertrain acquired Comer Industries in Italy; and the IPO of Actional Energía and the listing of Línea Directa in Spain. Meanwhile, Singer Capital Markets3 completed a strong semester both in trading and capital raising.
The Credit Portfolio Advisory division advised on 20 deals for a total volume of more than €23bn, including two of the largest NPE securitizations ever completed in Europe, Project Galaxy (€10.8bn), and Project Sunrise (€7.5bn).
1Alternative Asset Management businesses in which Alantra holds a strategic stake.
2Mergermarket League Tables (by volume) of financial advisors in Europe in H1 2021. The ranking includes only independent advisors.
3Alantra’s capital markets activity in the UK is carried out through Singer Capital Markets, where Alantra holds a stake of 30%.