Portobello Fondo III, FCR

Acronym: Portobello III


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Portobello Capital Gestión, SGECR, S.A.  (Portobello Capital)

Address: Calle Almagro 36, 2° planta. 28010 Madrid (Spain).

Phone: +34 902918295.

Fax: 34 914314523.

Site: http://www.portobellocapital.es/

eMail: info@portobellocapital.es

Description: This is a generalist fund aims to invest in leading companies from Spain and Portugal with sustainable competitive advantages and clear growth potential.

Vintage year: 2014. (Between 9 and 11 operations are expected in a 5 years).

Financing stages: acquisitions (LBOs, MBOs, MBIs) and development capital.

Geographic preferences: Spain and Portugal.

Sector preferences: generalist with special interest in food, services and health. Financial, real-state and technology sectors are excluded.

Typical investment: equity investment between € 6 and 10 millions. Mostly controlling stakes.

Typical investee: mid-cap companies (with enterprise value between € 50 and 500 million), in the following investment situations: transition in family-owned businesses, sale of non-core asset sales by industrials, involvement of management teams in the capital of the company (MBOs), consolidation/build up processes, opportunities for operational improvement and companies undervalued by the market.

Porfolio: Industrias Alimentarias de Navarra (IAN). 
Other companies in which same fund manager has invested are: The Ice Cream Factory Group, Multiasistencia, Mediterránea de Catering, Stock Uno, Festa and Veinsur (Divestments: Angulas Aguinaga, Hofmann, Maxam and Indas).

Fund participants: This fund has received contributions from the European Investment Fund  (€ 40 million), from Instituto de Crédito Español (€ 60 million, through FOND-ICO global), from investment and pension funds and international insurance companies. mostly german, french and italian (such as AXA and Generali) and from national investors, such as La Caixa, Bankia y Banco Santander.

Investment criteria: learder companies, with sustainable competitive advantages and clear growth potential, with a first-level managing team and leverage capacity.