Perseus is a residential real estate portfolio of approx. 8,500 well invested flats across Eastern Germany, 50% thereof in Leipzig. Adurion purchased these assets out of distressed situations. Since the acquisition end March 2008, Adurion has appointed efficient property managers and combined with effective asset management we are able to increase occupancy and rents while incurring low capex spend, thereby substantially growing cash yield. The primary co-investors were Whitehall Street Global Real Estate Limited Partnership 2007 who were advised by Goldman, Sachs & Co., Adurion Global Opportunity Fund who were advised by Adurion Capital Limited, and several important family offices. Adurion Capital Limited acted as sole arranger of the transaction.

The British Colonial is a historic property in downtown Nassau, Bahamas, centred around a 291 rooms hotel currently operated by Hilton. Founded by visionary billionaire Henry Flagler in 1898, the hotel has since been a favourite venue for famous guests and James Bond movies.
The property comprises 107,000 square feet of prime office space and 6 acres of additional waterfront land. Adurion intends to undertake a substantial renovation of the hotel, improve the management and profitability of the offices and develop the adjacent land into a luxury mega-yachts marina resort including condo and retail space. Adurion acquired control in December 2006 following an extensive due diligence process.

Hypnos is a residential real estate portfolio of approx. 1,900 flats peripherally located to major cities in East Germany. The buildings are fully renovated and break down in approx. 30% modern- and 70% pre-war architecture. The assets were acquired out of insolvency situations from four different sellers.
The portfolio as-is already represents an attractive assets that generates substantial cash flow. Adurion has appointed an experienced facility manager and hired a property manager to reduce vacancy and achieve higher rent levels on new lettings. Adurion intends to create an attractive, larger portfolio that can be sold on to a larger buyer. To this aim, Adurion may seek complementary add-on investments.

ITI Energy Limited manufactures a patented, advanced gasifier system that combined with the most up-to-date, commercially available gas clean-up systems generates a very clean, synthetic gas that can fuel an internal combustion engine.
Developed over ten years at Newcastle University The ITI Energy Gasifier was specifically designed to handle a wide range of "difficult" or negative-value feedstocks and is particularly suited to the conversion of Refuse Derived Fuel (RDF) such as household waste that would otherwise have to be landfilled or incinerated, into energy. It is a very efficient system converting 1 tonne of pelletized RDF into 1MWh electric power and 1.5 MWh of thermal energy, after subtracting the parasitic load. The gasifier has a very small footprint measuring only 12 metres x 4 metres (with an approximate height of 8 metres), making it ideal for positioning within a discreet structure either near the source of the waste/feedstock or in proximity to the energy offtaker.
ITI has already been awarded planning permission for a 5MWh gasifier system project in Teeside, for the conversion of RDF into electricity. The project will require 5 ITI gasifier systems and it is expected that commissioning of this project will be completed by end 2007.
ITI has also been awarded a contract for the supply of their patented gasifiers to Caithness Heat and Power Limited (CHPL), a special purpose vehicle set up by Caithness Local Authority. CHPL will exploit technology for the conversion of biomass into heat and power as part of an overall Combined Heat and Power (CHP) system to be used in Wick, Scotland. The Caithness project is to install a CHP system for both heating part of the town of Wick as well as generating electricity. CHPL chose ITI Energy Limited after putting the contract out to tender in the course of which they received a number of alternative proposals.
Wick has a range of housing and buildings which are currently heated by a variety of fuels, ranging from coal to heavy fuel oil. The CHP scheme will upgrade the internals to the housing and provide affordable warmth to these housing tenants and Council buildings. In addition the Pulteney Distillery requires significant heat and has process waste heat which can be made available to a district heating network.
The installation and commissioning of the first gasifier is planned to be completed by April 2007.

Dierking Immobilien is a commercial real estate portfolio based in and around Hanover, Germany. The portfolio comprises office buildings, commercial spaces, warehouses, a motel, a hotel, a fitness club and a petrol station.
Since the acquisition, Adurion Capital has installed new management which has dramatically increased occupancy, sold off certain assets and implemented a refurbishment program.