Alantra generated net profit of €30.7 million (+50.8% YoY) in the first nine months of the year
Date 30 October 2019
Type Financial Results
Net revenues increased by +42.4%, up to €150.7m, mainly due to the growth in the investment banking division (+52.7%).
Year-to-date, Alantra advised on 145 transactions (+34% YoY), out of which 59 were in M&A, 33 in credit portfolio advisory, 30 in ECM, 18 in debt and five in strategic advisory.
Net revenues from asset management increased by +20.2% driven by an increase in performance fees (+133.7%).
Operating expenses amounted to €123.7m, representing a 50.2% increase. Most of this increase in expenses is related to the incorporation of new teams and activities, and a higher variable compensation directly linked to the strong performance of the business (+ €14.9m).
Net profit attributable to the parent reached €30.7m (+50.8%), of which €26.0m derived from the fee business (+81.0%). In addition to the fee business, the Group generated profits from portfolio divestments of €1.3m and extraordinary results of €3.5m.
In Asset Management, direct investment fee-earning AuM increased by €140m over the last twelve months, reaching €2.2bn.
The Group started fundraising for a new direct lending vehicle, focused on Real Estate, with a target size of €150m. In addition to this, the Private Debt team completed another investment and a disbursement.
The Real Estate practice added a new investment (NH Sotogrande) to its hotel portfolio, which totals €173m of AuM.