Hedge Fund Converts Network Loan into Equity (1)

BVI chartered Quantek Opportunity Fund has purchased 14% of Spanish language US network CaribeVision. The investment fund lent CaribeVision $15.7m last fall and recently converted that facility into equity. The fund, which also holds positions in Spain’s Telecinco and Mexico’s Azcarraga, was attracted by the network’s growth prospects. “This was not a shot in the dark,” Johannes Goderbauer, an investment banker at Bulltick Capital Markets, the arranging bank, tells LatinFinance. “We believe that this has tremendous potential.” Quantek is focused 100% on Latin America and its investments range from asset backed debt to private equity. Focusing on Hispanics from the Caribbean area, CaribeVision has operations in Miami, New York and Puerto Rico.