Net revenues increased by +6.6%, up to €214.2m, mainly driven by international expansion of its advisory business (which comprises the investment banking and credit portfolio advisory divisions). This business generated record-revenues of €165.2m (+22.6%) in 22 markets. Alantra was engaged in significant and complex M&A transactions globally, elevating its average fee to €1.1m (+16.1% YoY).
Net revenues from asset management reached €47.5m, which represented a -26.8% decrease compared to previous year, due to a decrease in performance fees (-41.8%) and a change in the consolidation perimeter changed following the Alantra WM deal1. Like-for-like management fees from alternative assets increased by +3.1%.
Alantra won the Pan-European Corporate Finance House of the Year 2019 in the Private Equity Awards as a recognition for the expansion of the firm as well as the value created for its clients across Europe.
The Group completed the integration of the KPMG UK team incorporated in July 2018 and strengthened its hubs in Ireland, Italy, Portugal and Greece. This division is the leading advisor to financial institutions, platforms, investors and financiers for credit and real estate portfolios across Europe, with over 180 professionals devoted to this service in six countries.
Finally, Alantra acquired a majority stake in urbanData Analytics, a proptech firm that pioneers the use of big data artificial intelligence in the real estate sector.
Alantra entered Venture Capital through the acquisition of a strategic stake in Asabys Partners, a Pan-European Venture Capital firm specialized in investments in the life sciences and health sectors, and the reinforcement of its Real Estate practice with the incorporation of a new team led by Juan Velayos.
The Private Equity, Private Debt and Real Estate divisions completed a total of 6 investments, 2 add-ons and 1 divestment during the year.
The Group completed the fundraising of a new private debt fund and started the fundraising of a new real estate private debt fund. Total assets under management in direct investments stood at €2.3bn.
1) Alantra Wealth Management is consolidated under the equity method since June 2019
2) The 2019 dividend yield has been calculated dividing the dividend per share corresponding to 2019 by the average closing share price during 2019 (14.62 euros per share)