Alantra Private Equity Fund III reaches hard cap at €450mn
Date 13 February 2017
Type Alternative Asset Management
Alantra has achieved a final €450 million close for its latest middle market private equity fund, Private Equity Fund III. It is the largest raised in the Spanish mid-market since 2008.
In a context of macroeconomic and political uncertainty, Alantra PEF III reached its hard cap, following significant support from existing investors.
Alantra PEF III has a diversified and quality investor base comprising fund of funds, financial institutions, development finance institutions and family offices. In addition to the commitments from institutional investors, Alantra and the management team have committed €45mn.
The Fund will maintain the Group’s strategy of capitalizing on the opportunity to create and realize value from middle market Iberian acquisitions with strong international ambitions.
Alantra’s Private Equity division, made up of a team of 15 professionals, boasts more than 25 years’ experience and has more than €1.0bn of assets under management.
Madrid– Alantra Private Equity is pleased to announce it has reached a final close on its third Private Equity fund (“PEF III”), raising a total of €450 million. In a context of macroeconomic and political uncertainty, PEF III was oversubscribed at its hard cap, following significant support from existing investors.
“Reaching the Alantra PEF III’s €450mn hard cap is a strong sign of support from our investors that would not have been possible without Alantra’s strong track record of growing and improving companies also in more challenging times”, said Gonzalo de Rivera, CEO of Alantra Private Equity. “There is a strong pipeline of quality investment opportunities we are actively studying, although we will be very disciplined in the selection of our portfolio companies”.
Alantra’s Private Equity division has one of the largest and most experienced teams in Iberia and manages more than €1.0bn of assets under management. This coupled with Alantra Group and its Executive Network, combine to generate proprietary deal flow.
The Fund, which has attracted significant support from existing investors, will have a diversified investor base comprising fund of funds, financial institutions, development finance institutions and family offices. In addition to the commitments from institutional investors, Alantra and the management team have committed €45mn.
The fund, which will have a five-year investing period and another five-year divesting period, will take majority ownership interests in unlisted, medium-sized (equity value: €35-90m) Spanish and, to a lesser extent, Portuguese companies with international expansion ambitions, principally in the technology and industrial sectors.
KWM acted as Fund legal advisor.