Project Finance Corp

What We Do

We focus on small and medium sized private equity fund and niche transactions in the secondary market as an intermediary or consultant (below EUR 100 million in deal size). We give attention to smaller or more complex transactions. Our objectiveis always to maximize the seller’s value. Closed 43 transactions over a 11-year period.

We implement all types of secondary transactions; however, we have a keen eye to fund of funds transactions, restructuring of small and medium sized PE funds and single line deals. No matter what transaction, our focus will always be on maximizing the seller’s value.

Oeistein Helle, CFA

Founder

Project Finance Corp founder, Oeistein Helle, CFA, a Norwegian native holds 15 years of front office corporate finance and secondary private equity experience.

Oeistein has worked both on the buy side and the sell side. He has been part of organizations such as Argentum Asset Management (Bergen), DnB Markets (Bergen) and Castelar Corporate Finance (Oslo). He holds a Master in Advanced Finance from IE Business School (Madrid), and he is a CFA charterholder.

Closed more then 40 transactions in the institutional market.

Skills

Contact

+47 41 53 27 02

oeh@pfcorp.no

Our Focus
Niches

LP shares of
funds and FoF
The secondary market is the only way for individual LPs to exit early from their private equity investments if required. We have executed numerous buyout and venture fund transactions maximizing the sellers value.

This includes two stage bidding contests when applicable. Traditionally our most successful niche is transactions involving fund of funds. Previously we have gathered HNW and family office sellers in one club deal and sold to the highest bidding institution. Often there are only one or two potential buyers in such transactions.

Fund restructuring
Fund restructuring is a transaction in which new LPs agree to make a significant cash investment to provide a liquidity opportunity to the existing investors in a fund that is approaching the end of its term.

The cash is provided to a new fund vehicle, managed by the existing sponsor, that acquires all of the portfolio from the existing fund.

The terms of the new fund are designed to provide more time for the sponsor to manage the portfolio and to align the sponsor’s interests more closely with those of the investors going forward. Top-up capital is also normal.

Single lines
A single line LP secondary can be perceived as the restructuring or sale of a fund holding only one tail-end investment. A direct single line secondary is the sale of a company or a minority stake between GPs or a GP and a corporate investor.

The company may need a new GP to fulfil its potential. It may need new impulses, or just additional funds that the selling GP does not have available. Deal by deal financing is the financing of a sponsor's single deal by one or more LPs through a fund structure.

Usually 10% carried interest offered, and not 20% to the sponsor.