Key Takeaways
- • Kartesia Asset Finance (KAF) has deployed €88m across the first three transactions from its KAF III fund, financing aviation, maritime and logistics assets in Europe and the US, according to a statement from the firm.
- • KAF III has reached a fund close of €366m against a €500m target, with €50m committed by the European Investment Fund and institutional investors accounting for more than 80% of the LP base.
- • KAF plans to deploy between €300m and €400m annually across its asset finance strategies, per Managing Partner Fabrice Fraikin.
- • KAF expects to complete a further 15 to 20 transactions for KAF III, secured against assets essential to borrowers' operations and supported by EU programs including InvestEU and the ALSD Instrument.
Summary
Kartesia Asset Finance (KAF), managed by Flexam Invest, has invested €88m across the first three transactions from its KAF III fund, financing aviation, maritime and logistics assets in Europe and the US, according to a statement from the firm. KAF specialises in financing tangible mobile assets for European mid-cap companies and SMEs.
The deployments follow a recent close that brought KAF III to €366m against a €500m target. Commitments include €50m from the European Investment Fund, and institutional investors account for more than 80% of the fund's LP base.
The first transaction came in May, when KAF provided €17m to refinance three helicopters used for search and rescue operations in Spain. The junior financing increased advance rates and reduced equity requirements for an aerospace operator with which KAF has completed five transactions across its first two funds. Between June and August, the fund provided €36m to finance logistics assets in Spain, including semi-trailers and refrigerated containers, supporting the borrower's fleet expansion; the financing is aligned with the climate objectives of the European Recovery and Resilience Facility. In September, KAF completed a €35m refinancing of specialised vessels serving the US offshore wind sector, a sponsor-backed transaction that included security over the underlying assets and supported a restructuring of the borrower's capital structure.
Managing Partner Fabrice Fraikin said the platform aims to deploy between €300m and €400m annually across its asset finance strategies, targeting transactions where structuring complexity can generate additional spread over traditional corporate lending. Chairman and Managing Partner Florian de Sigy said KAF has completed deployment of its FTAIF II fund and has recruited several senior investment professionals, with further hires planned. KAF III expects to complete a further 15 to 20 transactions secured against assets essential to borrowers' operations, with investments benefiting from European Union support under the InvestEU Fund and the ALSD Instrument.
The deployments follow a recent close that brought KAF III to €366m against a €500m target. Commitments include €50m from the European Investment Fund, and institutional investors account for more than 80% of the fund's LP base.
The first transaction came in May, when KAF provided €17m to refinance three helicopters used for search and rescue operations in Spain. The junior financing increased advance rates and reduced equity requirements for an aerospace operator with which KAF has completed five transactions across its first two funds. Between June and August, the fund provided €36m to finance logistics assets in Spain, including semi-trailers and refrigerated containers, supporting the borrower's fleet expansion; the financing is aligned with the climate objectives of the European Recovery and Resilience Facility. In September, KAF completed a €35m refinancing of specialised vessels serving the US offshore wind sector, a sponsor-backed transaction that included security over the underlying assets and supported a restructuring of the borrower's capital structure.
Managing Partner Fabrice Fraikin said the platform aims to deploy between €300m and €400m annually across its asset finance strategies, targeting transactions where structuring complexity can generate additional spread over traditional corporate lending. Chairman and Managing Partner Florian de Sigy said KAF has completed deployment of its FTAIF II fund and has recruited several senior investment professionals, with further hires planned. KAF III expects to complete a further 15 to 20 transactions secured against assets essential to borrowers' operations, with investments benefiting from European Union support under the InvestEU Fund and the ALSD Instrument.
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