Vantage Capital, Africa’s largest mezzanine fund manager, announced today that it has provided $23 million of mezzanine debt funding to PickAlbatros Hotels. The proceeds will be used to fund working capital and renovation work on several recently-acquired hotels.

PickAlbatros is a leading hotel owner and operator in Egypt, with a portfolio of 15 operating hotels and close to 10,000 rooms across the Red Sea resort towns of Hurghada, Sharm El Sheikh, Sahl Hasheesh and Marsa Alam. It al...