Mr. Gadmer is a Managing Director within Houlihan Lokey’s Financial Restructuring Group and Head of the firm’s Sovereign Advisory. Over the past 25 years, notably until recently as Managing Director in Lazard’s Sovereign Advisory Group, Mr. Gadmer became a lead expert across various industries and markets in areas such as restructuring, capital markets, debt management (DCM and restructuring), financing, crisis management and resolution mechanisms, SOE financial management, capital structure optimization, infrastructure, macro-fiscal, banking stability, and NPL management. He is based in the firm’s Paris office.
Mr. Gadmer has been involved in some of the largest and most complex sovereign debt restructurings, including recently: Sri Lanka ($62 billion external and domestic debt—ongoing), Zambia ($17 billion external debt—ongoing), Ghana ($40 billion external and domestic debt—ongoing), Suriname ($3 billion external debt—2023), Sudan ($50 billion HIPC debt—2021), Argentina ($67 billion external debt—2020), Ecuador ($17 billion external debt—2020), and Ukraine ($23 billion external debt—2015).
In addition, Mr. Gadmer notably advised South Africa’s Eskom on its $25 billion debt for the unbundling and balance sheet optimization strategy (2018–2023), Oman’s OQ on project finance debt management (2022–2023), Azerbaijan’s Southern Gas Corridor on optimal financing strategy and debt raising (2018, $8 billion), and Croatia on the LME of its road and motorway sector publicly guaranteed debt (2017/2018, €5 billion).
Other selected transactions include advising on the Hyphen $10 billion green hydrogen project in Namibia (2022–2023), advising Naftogaz of Ukraine on its $1.5 billion LME (2022–2023), advising Pakistan on the settlement of an ICSID arbitral award and the revival of the Reko Diq mining project (2021–2022), and advising various clients in Turkey, Ethiopia, Gabon, Ecuador, Kazakhstan, and Ukraine on numerous structured financings and refinancings.