Established in 2022.
Subfund of APS CREDIT FUND SICAV, a commingled regulated fund domiciled in Czech Republic. RHAPSODY II raised more than EUR 27,6 million.
In Q3 2024 subfund RHAPSODY II bought one fixed income portfolio in Romania and one corporate-secured portfolio in Montenegro, currently totaling 19 portfolios (excluding portfolios that are already closed). Subfund has also six additional portfolios in pipeline, two in Romania, one in Croatia, one in Poland, one in Bulgaria and one in Czech Republic. Investments are currently held in seven countries, diversifying the subfund RHAPSODY II investments through new markets, Poland, Greece, and Romania as an example. Specifically, in Poland, RHAPSODY II invested in a retail-secured portfolio, and in Romania, in corporate-secured, mixed-secured and retail-unsecured portfolios. The remaining pipeline for Q4 2024 and onwards looks promising. Results are in line with the targets, and subfund is collecting ahead of the model on a cumulative portfolio basis.
An expected overall net multiple is 1,5.
Performance Graph
Investment by Country
Investment by Portfolio Type
Investment Overview
| Investment Vehicle | Investment shares |
| Fund Base Currency | CZK |
| Fund Administrator | QI investiční společnost, a.s. |
| Regulator | Czech National Bank |
| Depositary | UniCredit Bank, a.s. |
| Auditor | ECOVIS blf s.r.o. |
| Target Markets | CEE & SEE1 |
| Asset Class | Alternative assets (NPLs & RE) 2 |
| Investment Period | 3 years after the end of capital raising |
| Investment Horizon | 3 years plus 2 one-year extensions |
| First Entry | September 2022 – December 2022 |
| Target Return | 12-15% p.a. (net of fees) |
| Valuation | Annual |
Fund’s Projects
| Secured Projects | 10 |
| Unsecured Projects | 5 |
| Mixed Projects | 3 |
| Fixed Income | 2 |
| Nominal Value of the Projects in mil. EUR | 253,53 |