Argentem Creek Partners (ACP)

Argentem Creek Partners (ACP) UA RU
Argentem Creek Partners (ACP) is an investment firm headquartered in the United States

Argentem Creek Partners (ACP) is an investment firm headquartered in the United States.

Argentem Creek Partners (ACP) is an investment firm headquartered in the United States, with offices in Abu Dhabi, Buenos Aires, London, Minneapolis, and New York. ACP specializes in emerging markets and engages in investments related to special situations, private credit, high yield, and bespoke capital solutions across the capital structure. The company's focus is on delivering value for investors, partners, and the local communities it operates in.

The firm has gained recognition for its expertise in investing in complex situations and challenging markets and jurisdictions. Argentem Creek Partners excels in identifying strategic and high-quality assets, particularly in sectors such as natural resources, production, agriculture, and related infrastructure. Their investment strategy involves implementing balance sheet restructurings, capital structure optimizations, governance enhancements, and capitalizing on market dislocations. ACP attributes its successful track record to a disciplined, bottom-up investment approach and a robust network of local and global partners.

Argentem Creek Partners was founded in 2015 by Daniel Chapman and his team, formerly of Black River Asset Management, a subsidiary of Cargill Inc. Since its inception, the firm has invested over $2.5 billion across more than 75 corporations and 20 countries.

Argentem Creek Partners Projects in Ukraine

GNT Group

Argentem Creek Partners Company has a significant stake in GNT Group, a vertically integrated agri supply chain and services group operating in Ukraine. GNT Group, which includes GN Terminals (registered in Cyprus) and OOO Olimpex Coupe International, is involved in processing, storing, and exporting agricultural products through major terminals in Ukraine. ACP invested in the development of a large grain marine terminal and logistics hub in Odessa (GN Terminals) in December 2019. However, ACP's initial goal of improving governance and transparency within GN Terminals has not been achieved, prompting ACP to enforce its security measures.

So far, the owners of the GNT Group, Sergey Groza and Vladimir Naumenko, have not returned $75 million to the Argentem Creek Partners. Moreover, they owe another $20 million to Innovatus.

What prospects await the owners of the GNT Group:

The journalist, who conducted the investigation, reports that the current situation with the GNT Group is as follows:

• The litigation against various legal entities within the GNT Group continues in the UK, Switzerland, Cyprus, the UAE and Ukraine.
• Additional criminal cases are initiated or in the process of filing in Cyprus, the UAE, and Ukraine.
• The managers of the former beneficiaries of the Groza and Naumenko group have been suspended or are in the process of being suspended in all the above jurisdictions.

These circumstances have already led to the termination of contracts of several counterparties with the GNT Group companies. The companies from the agricultural market cite the facts of transferring funds to the accounts of third parties for Olimpex services.

“Apparently, that is why the debtors made noise in the media instead of repaying the debt or purely legal struggle. The closer the inevitability of punishment, the louder the “great strategists” scream in despair that happiness was so close,”- the journalist summed up.

By the middle of 2024, the total amount of debts of the GNT Group to Argentem Creek Partners and Innovatus amounts to more than 150 million US dollars.

Details of the actions of Argentem Creek Partners and the GNT Group (owner of Olimpex Coupe International):

• Argentem Creek Partners and Innovatus commenced liquidation on December 20, 2022 and appointed new directors across the GNT Group. Their goal was to protect the group from the further embezzlement of assets, but they received a countermeasure from the GNT group, which consisted of a number of fraudulent actions.
• Serhiy Groza and Volodymyr Naumenko (owners of GNT Group and the company "Olimpex Coupe International") created a number of companies in different jurisdictions with hidden debts. "Pivdenniy" and "Vostok" banks were involved in those fraudulent actions. Companies with hidden debts ultimately prevented foreclosure by American creditors in the event of GNT Group default.

• When ACP and Innovatus started the foreclosure procedure - Serhiy Groza and Volodymyr Naumenko illegally withdrew assets from Olimpex Coupe International through Pivdenniy and Vostok banks for a symbolic part of their value. The so-called "poisonous pill" mechanism was used. The point was to make the desired company become less attractive to a potential acquirer. How it looked in practice: half of the grain terminal, of the market value circa $350 million is sold to a company from the Groza and Naumenko’s pool of companies, namely Sunolta Group, for $4.3 million,due to a fictitious foreclosure, and then the buyer transferred the asset as a mortgage to other controlled by Graza and Naumenko companies.

• In November-December of 2022, on the brink of enforcement actions by ACP and Innovatus, it was discovered that Denić, Groza and Naumenko had transferred $115.4 million from the Group's account to Barclays Bank. $28.2 million was transferred to GNT Europe, which is owned by GNT Group’s CFO Dušan Denić.
• In January 2023, the High Court of England ordered the worldwide seizure of the assets (WFO) of Groza and Naumenko. This decision prevents the embezzlement of assets.
• Complaints were submitted to the Ministry of Justice of Ukraine. The anti-raider commission of the Ministry of Justice reviewed the submitted documents and made a decision to return the property back to "Olimpex Coupe International", using the fact that the assets should be used to satisfy the claims of creditors - Argentem Creek Partners and Innovatus.

Interpipe

Interpipe Group, a Ukrainian manufacturer and supplier of steel products, operates multiple steel mills in Ukraine, focusing on processing scrap and producing railway wheels, stainless steel pipes, and ERW steel pipes. ACP invested in Interpipe in 2017 and played a pivotal role in the company's restructuring process, enabling it to recover from losses experienced in the Russian market in 2014. The restructuring efforts helped normalize Interpipe's operations and secure its future, safeguarding the jobs it provides.

DTEK Energy

ACP has invested in DTEK Energy bonds since 2017. DTEK Energy, the largest thermal generation company in Ukraine, manages both generation and coal mining activities. DTEK Renewable Energy, a subsidiary of DTEK, oversees the company's renewable energy assets and is the country's largest green energy investor. With significant solar and wind power plants, DTEK Energy plays a crucial role in Ukraine's energy sector.

Lemtrans

Lemtrans, Ukraine's largest private rail operator

Lemtrans, Ukraine's largest private rail operator, specializes in freight transport and owns a fleet of over 20,000 gondola cars, transporting more than 52 million tons of cargo annually. The company also operates maintenance and technical facilities. Argentem Creek Partners acquired leases related to Lemtrans in September 2018, resolving uncertainties surrounding the company's leasing arrangements and contributing to its stability. ACP's investment in Lemtrans has been fully realized.

Large Ukrainian Agricultural Holding MRIYA

Argentem Creek Partners took on the challenge of restructuring MRIYA, one of Ukraine's largest agricultural holdings, following its default on bonds and loans in August 2014. ACP purchased debts from various holders and worked closely with the new management to implement a restructuring strategy over a four-year period, commencing in 2015. The aim was to establish a profitable and transparent agribusiness adhering to Western standards. In 2019, ACP successfully sold the restructured company to a strategic investor in the agricultural sector, marking one of Ukraine's largest transactions in that industry. The project not only attracted additional investments but also set precedents for debt restructurings. ACP's involvement led to improved transparency, management quality, and the preservation of 1,500 jobs in rural areas. This investment has been fully realized.

Expansion into Great Britain

With its headquarters located in the heart of London, the company has established a strong presence in the competitive landscape of the British financial sector. Specializing in investment management and advisory services, Argentem Creek Partners caters to a diverse clientele, including institutional investors, corporations, and high-net-worth individuals. The company's core strength lies in its team of seasoned professionals who possess deep expertise in various areas of finance. These professionals bring a wealth of experience from prestigious financial institutions, enabling Argentem Creek Partners to offer comprehensive and tailored solutions to its clients.

Diversification and Entry into the United States

Argentem Creek Partners is a renowned financial services company based in the United States. Established with a strong commitment to delivering exceptional value to its clients, Argentem Creek Partners has gained a reputation for its expertise in investment management, financial advisory, and capital market services. The company was founded by a team of experienced professionals who recognized the need for a comprehensive and client-centric approach to finance. With a diverse range of backgrounds in banking, asset management, and consulting, the founders aimed to create a firm that combines extensive industry knowledge with a personalized touch. As a leading financial firm in the United States, Argentem Creek Partners continues to uphold its commitment to delivering exceptional financial solutions and personalized service to its clients. With a solid track record of success and a dedication to innovation, the firm remains poised to navigate the complexities of the financial landscape and help its clients achieve their financial goals both now and in the future.

UAE: A Gateway to the Middle East

Abdulla Abdul Aziz AlShamsi, Acting Director General of ADIO and Daniel Chapman, CEO Argentem Creek Partners

The United Arab Emirates (UAE) has emerged as a key hub for global business, attracting investors and entrepreneurs from all corners of the world. Sensing the vast potential of the UAE market and its strategic location bridging Europe, Asia, and Africa, Argentem Creek Partners established a presence in Dubai in 2016. This expansion enabled them to capitalize on the region's rapid economic growth, particularly in sectors like hospitality, tourism, and infrastructure development.

In collaboration with the Abu Dhabi Investment Office (ADIO), Argentem Creek Partners (Argentem Creek) plans to establish a regional hub in the Abu Dhabi Global Market (ADGM), which stands as the prominent international financial center in the region. This joint venture is a component of ADIO's Innovation Programme, valued at AED 2 billion (USD 545 million), which is dedicated to fostering innovative companies in rapidly expanding sectors, including financial services. The primary objective of Argentem Creek's upcoming hub is to enhance accessibility to investment prospects spanning the Middle East and North Africa (MENA) as well as Asia.

Key Business Segments and Collaborations

Argentem Creek Partners' success can be attributed to its diversified business segments and strategic collaborations. The company has ventured into sectors such as energy, logistics, technology, finance, and agriculture.

By partnering with local companies, governmental organizations, and industry experts, Argentem Creek has leveraged local knowledge and expertise to navigate complex regulatory landscapes and drive successful projects across its global network.

In its projects, the firm focuses on the long-term financial well-being of the companies in which it invests. ACP adopts a client-centric approach, working collaboratively with their clients and taking the time to understand their goals, risk tolerance, and aspirations, which allows them to develop customized strategies that maximize returns while minimizing risks.

Sustainable Investing

Recognizing the increasing importance of sustainable investing, Argentem Creek Partners has made significant strides in integrating environmental, social, and governance (ESG) factors into their investment strategies. ACP believe that sustainable investing not only promotes positive change but also generates superior long-term returns. By aligning their clients' investment goals with sustainable practices, the firm ensures that their portfolios reflect both financial objectives and ESG stewardship. Argentem Creek Partners’ track record of delivering superior investment performance has earned them recognition and trust from a discerning clientele. The firm has been the recipient of several industry accolades and awards, validating their commitment to excellence and their ability to generate value for their clients.

Conclusions about Argentem Creek Partners

Argentem Creek Partners stands as a beacon of excellence in the financial industry, driven by its client-centric approach, commitment to innovation, and unwavering dedication to excellence. With a history rooted in integrity and a vision focused on the future, this trailblazing firm continues to redefine the way financial services are delivered. As the company forges ahead, embracing sustainable investing, leveraging advanced technologies, and building strategic partnerships, Argentem Creek Partners will undoubtedly leave an indelible mark on the financial world, transforming the lives of their clients and shaping the industry for years to come.