After a 4-year investment period, Vantage has been fully exited through a combination of sale proceeds and a senior debt refinance by FedGroup
JOHANNESBURG, South Africa, February 11, 2026/ —
Official Announcement by Vantage Capital
Vantage Capital, Africa’s largest mezzanine debt fund manager, announced that it has fully exited its investment in Seaton Estates (“Seaton”). Seaton is a residential coastal development located on the North Coast of Kwa-Zulu Natal, South Africa. The promoter of Seaton is Collins Residential. It is the residential arm of a diversified group with interests in the real estate, hospitality, and agricultural sectors in South Africa and internationally.
Overview of Seaton Estates Development
The Seaton development sits on prime property. It has direct access to a kilometre stretch of beach frontage. The development comprises 1,150 opportunities. These include 600 single residential stands and 22 planned urban developments. The urban developments offer a further 550 sectional title opportunities.
The estate is designed as an eco-conscious coastal development. It is characterized by wild grasslands, ocean views, and rehabilitated indigenous forests. Facilities include a country club with multi-disciplinary sports. There is also an equestrian centre with arena’s and stabling. Residents enjoy direct beach access. Moreover, the estate features 26km of walking, running, and bridle trails through rehabilitated natural forest and grasslands.
Later stages will include commercial mixed-use nodes. These will offer retail, education, and office facilities. So, the development is near the popular leisure towns of Salt Rock and Ballito.
Structure of the Mezzanine Funding
Vantage first invested in Seaton in January 2022. It arranged R360 million of mezzanine funding. The funding supported the development of initial phases of common use infrastructure and bulk services. This was primarily for single residential units.
After a 4-year investment period, Vantage has been fully exited from its investment in Seaton Estates. The exit was achieved through a combination of sale proceeds and a senior debt refinance by FedGroup. Werksmans acted as legal counsel for Vantage.
Commentary from Vantage Capital Leadership
Roshal Ramdenee, Partner at Vantage Capital, said:
“This investment demonstrates how structured mezzanine capital can unlock large-scale infrastructure development in complex residential projects. Our funding enabled the timely delivery of critical bulk infrastructure. This supported strong sales momentum and value creation across the estate. We are pleased to have partnered with Collins Residential on a high-quality coastal development. We have achieved an outcome that reflects both the strength of the underlying asset and disciplined execution over the investment period.”
Luc Albinski, Executive Chairman at Vantage Capital, added:
“Seaton Estates marked the first investment of our Fund IV program. Also, it set the tone for what we aim to achieve. From the outset, we partnered with an exceptionally entrepreneurial KZN-based group known for executing large and complex developments. Despite the disruptions of the KZN riots, extreme weather events, and unavoidable approval delays, the partnership remained resilient. Collaborating with such a professional and committed team has been a genuine pleasure.”
Commentary from Collins Residential
Jon De Bufanos, Financial Director at Collins Residential, added:
“Vantage Capital’s mezzanine funding played an important role in supporting the delivery of key infrastructure during the early phases of the Seaton Estates development. The funding structure gave us flexibility during a challenging period. It allowed the project to continue progressing in a measured and disciplined way. We appreciated Vantage’s practical, collaborative approach throughout the investment period and their contribution to the development of Seaton.”
About Vantage Capital:
Vantage Capital Group was established in 2001 and is the largest independent pan-African mezzanine debt fund manager on the African continent. It has raised funds of US$ 1.6 billion in seven distinct mezzanine and renewable energy debt funds as well as in a technology fund and has to date made 66 investments across the African continent.
Vantage targets investment opportunities, with a focus on mezzanine debt, of US$ 10 – 50m across more than a dozen key African markets. Mezzanine debt is an intermediate form of risk capital, which is situated between senior debt, the lowest risk tranche of the capital structure, and equity, the highest risk. It combines elements of both debt and equity thereby providing companies with long-term funding on terms which are less dilutive to shareholders than pure equity.
Vantage recently launched an education investment platform which is targeting the education markets of Poland and Czechia.
