Investment Banking Overview


Our investor network and depth of expertise in natural resources, financial institutions, technology, media, telecoms and commercial real estate across developing markets enables us to link investors to projects in some of the world's fastest growing economies.

The team is currently engaged in innovative projects across natural resources, real estate, financial and other sectors including M&A, debt & equity capital markets and corporate finance advisory around the world.

Products & Services


Capital Markets

Issuance of debt and capital including Eurobonds, High Yield Bonds and Structured Notes

Equity capital markets, including IPOs, convertibles, exchangeables, block trades and accelerated book builds, private placements

Advisory & Distribution

Connecting company management with international debt and equity investors, modelling, structuring, advising on both technical (indexing, listing strategy) and corporate actions

Our extensive client base and experience provides a unique ability to arrange and distribute transactions

Corporate Finance

M&A advisory and merger analysis Corporate finance advisory, involving review of business portfolios, capital structure, dividend policy and strategic alternatives

Energy finance including Reserve Based Lending (RBL), Project, Infrastructure and PXF transactions

Notable Trades


SWALA Oil and Gas
Off-Shore Gas

USD 130,000,000

Acquisition of 40% of PanAfrican Energy Corporation

M&A Advisor and Placement Agent
Ongoing

USD 400,000,000

Tender offer on the 2018 Eurobond (Nigeria)

Deal Manager
2017

Early Bird tranche

$25 million 144A 5-year USD notes

Acquisition of up to 40% of Pan African Energy Corporation (Mauritius) for a total consideration of USD130 million

 

Financial Advisor and Placement Agent

USD 60,000,000

Private placement of equity for a biogas and fertilizer plant on Lake Victoria (Kenya)

Advisor and Placement Agent
Ongoing

USD 132,094,262

Initial Public Offering of shares of GRIT: Real Estate Income Group on the London Stock Exchange

Joint UK Placing Agent

2018

 

Advisory to Banco BPI on the strategic options for its African subsidiaries 
(Portugal / Angola / Mozambique)

Joint Advisor
2015 - 2016

USD 120,000,000

Private Placement  (Nigeria)

Financial Advisor
2015

USD 700,000,000

Issue of 10-year notes by the Republic of Angola 
(Angola)

Placement Agent
2013

Investment Banking Management Team


London

 

Andrew Moorfield

Head of Natural Resources


Andrew was previously Head of Energy Origination for EMEA at Bank of Nova Scotia, and Global Head of Oil & Gas at Lloyds/ Bank of Scotland with responsibility for energy in London, Edinburgh, Sydney and Houston. Andrew began in banking at Citi in Asia and the UK, and Bank of America where he co-headed the European General Industrial Group. He’s UK founder of bfinance.com and ex-Chair of the OECD MENA Renewable Energy Taskforce. He has a Bachelor of Economics (Hons) from the University of Melbourne and MBA from the Wharton School

 

Dubai

 

Fabrizio Ferrero

Co-Head of Investment Banking, Head of Financials


With over 25 years experience at leading financial institutions, Fabrizio was responsible at Morgan Stanley for the relationship with leading financial services companies in Europe and emerging markets. He has an extensive track-record in M&A and capital markets transactions, having originated and executed over 60 deals across M&A, equity and debt for financial institutions in Europe and emerging markets. Having operated in emerging markets since 2004, Fabrizio pioneered deals for Morgan Stanley in new regions including Sub-Saharan Africa and Turkey. At Exotix, he spearheaded the investment banking operations. Fabrizio is a Visiting Professor at the Master of Science program in International Accounting at the University of Turin (Italy).

 

Lagos

 

Chiamaka Ezenwa

Head of Investment Banking West Africa


Chiamaka spent seven years at Morgan Stanley in London with primary focus on equity capital markets for Sub-Saharan Africa, the UK and Northern Europe, and four years in Lagos at FBN Capital, the investment-banking subsidiary of FBNH, Nigeria’s largest banking institution by total assets, most recently as Head of Equity Sales. She has originated and executed a variety of financing transactions across jurisdictions for international and Nigerian corporations. She has a Bachelor of Science (Hons) in Economics and Management from the University of Bristol and a postgraduate Diploma in Financial Strategy from Said Business School, University of Oxford.

 

London

 

Paul Michowicz, CFA

Head of Capital Markets


Paul has worked on both the buy and sell-side, including trading collateralised debt obligations and serving as Chief Risk Officer at Advisors Asset Management, Head of Syndicate at GMAC-RFC, Head of Investments for EMEA Fixed Income eCommerce at Lehman Brothers, Portfolio Manager of a $2 billion proprietary corporate and structured products book at Bankers Trust, and derivatives trader at Macquarie Bank. He has a Bachelor of Commerce (Honours) degree from the University of New South Wales and an MBA (Distinction) from the Wharton School at the University of Pennsylvania, where he was a Palmer Scholar and awarded the Ford Fellowship.

 

New York

 

Courtney Fellowes

Head of Private Placements


Courtney Fellowes is recognized for her expertise in raising capital and global institutional investor relationships across asset classes. During her 25 year career in emerging markets, Courtney has managed capital markets sales desks in New York for Aton Securities, Troika Dialog and Enclave Capital. She resided in Moscow from 1992-1997 where she was Finance Manager at PepsiCo and subsequently Head of Capital Markets Sales at ING Barings. Courtney holds a Bachelor of Arts from Queen’s University in Canada and a Master’s in International Finance and Russian Studies (Harriman Institute) from Columbia University.

 

Recognition & Awards


Best Investment Bank in Kenya

2018 Global Finance Awards

Best Investment Bank in Iraq

2018 Global Finance Awards

Best Frontier Markets Investment Banking Team in the UK

2016 - Capital Finance International

Best Boutique Investment Bank in Africa

2016 - Global Finance Awards