Kinnerton Opportunistic Credits C DAC

Fund Manager: Kinnerton Credit Management

Launch date (now closed): December 2015

Committed capital: DKK 765 million

Kinnerton's third fund’s strategy is an extension of Sub-fund B’s strategy comprising investments in newly issued credit facilities for residential real estate development in the credit constrained Danish market.

The current credit demand exceeds the supply and hence offers attractive opportunities for alternative credit providers.

Kinnerton Mortgages Funds Plc Sub-Fund Opportunistic Credits B

Fund manager: Kinnerton Credit Management

Closed: October 2013

Committed capital: DKK 1.156 billion

Kinnerton's second fund invests in performing and non-performing commercial and residential mortgages in Denmark, Sweden and Germany.

The fund initially acquired the mortgage portfolio of about 5,800 mortgages from the Danish bad bank, Finansiel Stabilitet. Investors committed DKK 956 million to the fund at the launch, and in December 2014 an additional DKK 200 million was committed to the fund.

The value creation is based on an opportunistic approach, which is to manage and hold the portfolio until maturity. Additionally, the strategy is to restructure non-performing mortgages and improve the credit quality of the portfolio while at the same time collecting interest and repayments from the mortgages.

Based on the cash flow from the portfolio and the additional commitment, the strategy was expanded in 2014 to cover the acquisition of newly issued credit facilities for residential development and junior commercial.

The fund will on an opportunistic basis also participate in forced sale auctions and acquire properties to defend mortgages.

Kinnerton Mortgage Funds Plc Sub-Fund Danish Mortgages A

Fund manager: Kinnerton Credit Management

Closed: 2011

Committed capital: DKK 615 million

The fund’s strategy is based on a conservative and single digit return investment strategy providing Danish households mortgage credit predominantly after 1st lien mortgage bank financing.

The life of the fund is expected to be up to 15 years from launch.

Get in touch

To find out more about Kinnerton Credit Management