\nWe review the main funds launched by private equity firms in March 2018. Specifically, we analyse the new funds from Art\u00e1 Capital, Black Toro Capital, Nekko Capital, the Benavent family and Trea Direct Lending.<\/p>\n
\nWe review the main funds launched by private equity firms in March 2018. Specifically, we analyse the new funds from Art\u00e1 Capital, Black Toro Capital, Nekko Capital, the Benavent family and Trea Direct Lending.<\/p>\n
The fund manager launched by the March Group in 2008 through Corporaci\u00f3n Financiera Alba, Art\u00e1 Capital<\/a>has broadened its investor base and investment typologies in Art\u00e1 Capital Fund II, its second fund, closed at \u20ac400M.<\/p>\n Art\u00e1 Capital Fund II's investors included Spanish family offices and domestic and foreign institutional investors, in addition to the backing of Corporaci\u00f3n Financiera Alba. Grupo March contributed just under 501TTP1T of the funds; Spanish family offices contributed 25%; the remainder came from domestic and international institutional investors.<\/p>\n This new fund aims to take controlling positions and to undertake leveraged transactions to increase investment returns, unlike Art\u00e1 Capital's first fund, which specialised in minority positions.<\/p>\n Art\u00e1 Capital expects to close two or three deals in Spain and Portugal in 2018. Last year, the asset manager successfully closed three exits: Flex, Resa-EnCampus and Berlys-Panasa, generating \u20ac300M in revenues. In addition, in 2017 it made three important investments: Gascan, Alvinesa and Satlink, for which it has dedicated 25% of Art\u00e1 Capital Fund II's investment potential.<\/p>\n <\/p>\n La gestora Black Toro Capital (BTC) ha lanzado su tercer fondo, BTC III, con un tama\u00f1o objetivo de \u20ac350M, tras completar un intenso 2017 en el que ha cerrado cuatro inversiones (Lacrem, Amichi, Torrot and Social Muving<\/a>) and announced the merger of Bionaturis and ADL, which it expects to close this year.<\/p>\n The Global FOND-ICO approved last November an allocation of \u20ac50M for BTC III, the launch of which comes at a time when 85% of the resources of BTC II, which closed in December 2016 with \u20ac235M, are already invested.<\/p>\n BTC is looking for companies with sales between \u20ac30M and \u20ac1,000M or EV between \u20ac30M and \u20ac750M, and net debt to ebitda ratios of less than 5x post-investment. The fund will invest between \u20ac20M and \u20ac75M per company, offering flexible capital and liquidity solutions to viable Spanish SMEs with significant financing needs.<\/p>\n<\/span>Black Toro launches third \u20ac100M fund<\/span><\/h2>\n
<\/span>Nekko launches \u20ac100M pan-European fund<\/span><\/h2>\n