South Africa: Vantage Capital exits real estate development
Vantage Capital, Africa’s largest mezzanine debt fund manager, has fully exited its investment in Seaton Estates.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
Vantage Capital, Africa’s largest mezzanine debt fund manager, has fully exited its investment in Seaton Estates, a residential coastal development located on the North Coast of Kwa-Zulu Natal, South Africa. The promoter of Seaton is Collins Residential, the residential arm of a diversified group with interests in the real estate, hospitality, and agricultural sectors, both in South Africa and internationally.
Vantage first invested in Seaton in January 2022 by arranging R360 million (about $23 million) of mezzanine funding for development of initial phases of common use infrastructure and bulk services. After a four-year investment period, Vantage has been fully exited through a combination of sale proceeds and a senior debt refinance by FedGroup.
Roshal Ramdenee, partner at Vantage Capital, said: “This investment demonstrates how structured mezzanine capital can unlock large-scale infrastructure development in complex residential projects. Our funding enabled the timely delivery of critical bulk infrastructure, which in turn supported strong sales momentum and value creation across the estate. We are pleased to have partnered with Collins Residential on a high-quality coastal development and to have achieved an outcome that reflects both the strength of the underlying asset and disciplined execution over the investment period.”
Luc Albinski, executive chairman at Vantage Capital, added: “Seaton Estates marked the first investment of our Fund IV programme and set the tone for what we aim to achieve. From the outset, we partnered with an exceptionally entrepreneurial KZN-based group known for executing large and complex developments. Despite the disruptions of the KZN riots, extreme weather events, and unavoidable approval delays, the partnership remained resilient. Collaborating with such a professional and committed team has been a genuine pleasure.”
Jon De Bufanos, financial director at Collins Residential, added: “Vantage Capital’s mezzanine funding played an important role in supporting the delivery of key infrastructure during the early phases of the Seaton Estates development. The funding structure gave us flexibility during a challenging period, while allowing the project to continue progressing in a measured and disciplined way. We appreciated Vantage’s practical, collaborative approach throughout the investment period and their contribution to the development of Seaton.”
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe now