BIZ BUZZ: M&A, infra deal makers unite 

One of the busiest boutique merger and acquisition (M&A) and debt advisory firms in town today has teamed up with another independent advisory firm to jointly undertake projects in the Philippines, primarily those in the infrastructure space that involve both public-private partnership (PPP) and fund-raising activities.

We’re talking about AlphaPrimus Advisors Inc., founded by veteran investment banker Manuel “Manolet” Salak III in 2018 after retiring as country head of Dutch financial giant ING.

AlphaPrimus has signed up Polestrom Consulting Inc., cofounded and headed by PPP expert Lea Odullo, as partner.

Polestrom’s deep experience in helping clients develop PPP proposals and projects is seen to complement AlphaPrimus’ structuring experience, domestic and cross-border client relationships and expertise in capital-raising.

It’s not a merger but a “strategic cooperation.” Their goal is to create a one-stop shop for PPP proponents who also require additional financial muscle to take projects off the ground.

Salak sees this partnership as something that would push “transformational” projects in this part of the world.

Odullo previously worked as a consultant at the Asian Development Bank and as financial sector specialist at the government’s PPP Center. She had also worked at South Africa-based Standard Bank.

Established in 2016, deal principals of Polestrom hail from diverse but specialist legal and financial backgrounds in infrastructure PPP.

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On the other hand, the principals of AlphaPrimus (who, aside from Salak, also include ex-BPI executive Natividad Alejo), have all worked on domestic and cross-border deals advising conglomerates, multinationals and family offices.

Aside from infrastructure, they have also been active in energy, financial services, food and telecommunications and media sector deal making. The firm bagged back-to-back “Best Philippine M&A House” awards from The Asset Magazine in 2021 and 2022.

“An important aspect of this cooperation is our mutual desire especially to promote social infrastructure projects, which focus on addressing the needs of the poorer members of our society,” Salak said.

“By combining the strengths of each party, we increase the probability of success of each of the projects or mandates that we undertake,” Odullo said.