Vantage Exits Genser Energy

Source(s): Vantage Capital

Africa-focused private credit fund manager Vantage Capital has exited its investment in Genser Energy, a US-based company that provides distributed power generation services to industrial and mining companies in Ghana. Vantage exited Genser to a consortium consisting of Africa-focused trade finance firm Barak Fund Management and South Africa-based banks Standard Bank, Nedbank, and the Development Bank of Southern Africa. The consortium has reportedly agreed to provide USD230 million in financing to Genser for debt restructuring and expansion capital. Vantage originally provided USD18.5 million in financing to the business in March 2013. Financial details of the latest transaction were not disclosed.