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Derek Vago – ACP Capital
Derek Vago, is founder and CEO of ACP Capital Limited, the AIM-listed integrated finance and asset management company focused on both the asset-backed and non asset-backed sectors in the European small and medium-sized enterprise markets.
By: Top Position
ACP Capital specialise in providing a comprehensive range of integrated financing products to the European SME market, including: equity, mezzanine, senior debt funding, including leveraged loan, and investment grade debt for all sectors. Since January 2006, ACP Capital have raised over €1 billion in equity and leverage facilities for their various vehicles and have the capability to finance up to €250 million per transaction on a standalone basis.
Derek Vago was previously Managing Director and Co- Head of the Asset Finance Group at Nomura International plc, where he was responsible for all balance sheet activities including equity, mezzanine and senior debt financing, underwriting, syndication and repackaging of assets in the real estate, non-asset backed, CDO and ABS/CMBS sectors.
With approximately 15 years experience of international finance markets, Derek Vago has corporate finance experience in European and Asian markets. Prior to AFG, he was co-head of the European Real Estate Investment Banking Group of Credit Suisse First Boston in London and, before that, he was responsible for putting in place the direct investment business within the European Real Estate Group at Bankers Trust, subsequently acquired by Deutsche Bank. Derek Vago has a Masters of Science degree in Real Estate Finance from New York University and both a BSc and a B Architecture degree from McGill University in Canada.
ACP Capital's operations have performed strongly in its second year of trading, with preliminary results for the year ending 31 December 2007 indicating ACP Capital generated operating income of £17.5 million (up from £4.0 million in 2006), consisting of interest income of £7.3 million, dividend income of £4.4 million and fees receivable of £5.7 million, and net operating income of £13.2 million (up from £0.1 million in 2006).
Following ACP Capital’s end of year announcement, Derek Vago commented: "With the establishment of ACP Capital's business model, operations have shown strong progress during 2007, generating £17 million of diversified operating income and £13 million of net operating income. During the Period we established our first two local origination platforms and our managed vehicle, ACP Mezzanine, had excellent performance. Equally satisfying are the continued development of Leasecom into a diversified lending business and our close collaboration with GCI management.
We will continue focus on establishing additional local SME origination platforms in the core countries of France, Germany, Italy and the UK, and shortly expect to announce further progress in this area. With a cash balance of £60 million at the end of 2007, we have significant capital and do not anticipate any need for additional equity capital to support our growth in 2008.
Our asset management business has progressed not only with the performance of ACP Mezzanine, but also through our efforts in creating further managed vehicles. We are currently warehousing £30 million of senior debt assets for ACP Capital High Income and have put in place a committed leverage facility. We are also in discussions with potential joint venture partners in various niche infrastructure sectors as part of our preparations for the launch of ACP Capital Infrastructure."
Editor’s Note: ACP Capital is represented by online advertising consultancy, Top Position. Please direct all press queries to Billy Howe. Email: Billy@topposition.co.uk or call: 0800 094 9001.