ACP Mezzanine to launch on AIM

AIM-listed ACP Capital Ltd, a Jersey-based niche investment and fund manager, is to launch a mezzanine offering on AIM later this year. Jeff Bennett, who joins from Morgan Stanley where he was managing director in the leveraged finance group, has been appointed chief investment officer for the new vehicle called ACP Mezzanine.

ACP Capital listed on AIM in January 2006 and has a current market capitalization of approximately £70m. The business is focused on providing an integrated finance approach (through the use of equity, mezzanine and/or senior debt) to businesses with strong asset backing. ACP is primarily seeking opportunities in continental Europe.

Part of ACP’s strategy is to launch a series of alternative investment vehicles mainly in 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, establishing itself as an alternative investment and fund manager. ACP Mezzanine is the first such fund to be launched. ACP Capital intends subscribing for not less than 10% of the equity in ACP Mezzanine at its launch. ACP aims to launch one new managed fund targeting a niche product sector each year.