Chenavari Capital Solutions has published its first set of results. These cover the period from 12 July 2013 to 31 March 2014. Chenavari Capital Solutions was admitted to listing on 7 October 2013, raising £130m.
The net asset value at the end of the period was 100.91p – a 3.0% increase on the initial value on listing (after deducting the expenses of the issue). The share price on 31 March 2014 was 104.25p. The company expects to declare its first dividend in July.
During the period Chenavari Capital Solutions invested £81m in 9 secondary and one primary transaction and was 61% invested on 31 March. About 40% of the portfolio is exposed to loans to small and medium sized enterprises and about 16% to mortgages. The biggest geographical exposure at the end of the period was to Portugal.