Selected Situations
Below is a representative selection of transactions that Sancta Capital has originated and stewarded.
Built a sizeable over-the-counter position ahead of the official listing of a national stock exchange, becoming one of its first and largest foreign institutional shareholders. The business is a monopoly with captive control over all public listings and trading volumes in its market. Fully exited for a total return of 3.8x.
Anchored a first-of-its-kind senior secured pre-IPO sukuk to fund a regional telecoms operator's expansion. The notes carried strong governance rights and a convertible feature that let holders participate in the company's IPO on preferential terms. Fully exited at an IRR of 16% after four and a half years.
Led a successful, highly publicised legal and public-relations campaign to resist a majority shareholder's attempt to de-list a listed education company, then engaged with the business to strengthen investor relations and increase its free float. Fully exited for a total return of 4.0x.
Acquired a substantial participation in the senior secured term loan of a quasi-government financial group at a significant discount to par. The loan carried an irrevocable interest-payment guarantee from its state-linked parent and was secured against a minority stake in a US-listed asset manager, limiting downside while preserving meaningful upside. Fully exited at an IRR of 24% after 27 months.
Built a large position in the non-performing bonds of a collapsed healthcare group at 13 cents on the dollar to participate in its rescue-financing facility. The rescue financing allowed for the elevation of our cheaply sourced bonds into super-senior par claims with an option to convert into a disproportionate equity stake in the company post restructuring. Fully exited the total exposure for a total return of 2.75x.
Acquired claims at various stages of litigation against a trading conglomerate at a blended price of two cents on the dollar, and exited at six cents shortly after the commencement of liquidation proceedings. Fully exited for a total return of 3.0x.
Selected situations are not necessarily representative of all investments made and are not indicative of the overall performance of any fund or account. Past performance is not a reliable indicator of future results.