Spain-headquartered Abac Capital closes debut fund at €320M

Abac Solutions Manager (ASM) has called the final closing of its maiden fund Abac Solutions (SCA) SICAR that targets mid-market investment opportunities in Spain. The fund closed after receiving capital commitments of €320mfrom a mix of institutions, including pension funds, endowments, financial institutions, fund of funds and family offices. The fund reports strong support from investors despite a challenging market environment to raise the largest first time fund in Southern Europe for almost a decade.

Of the capital raised, approximately 60% was committed from European investors, 30% from North American investors and 10% from Asia Pacific investors.

Abac Solutions has already committed capital to two Spanish leading companies: Metalcaucho, an automotive aftermarket supplier, and Figueras International Seating, a high-end global seating systems provider.

Oriol Pinya, Founding Partner of Abac Capital, the exclusive advisor of ASM says: “We believe the Spanish mid-market is an attractive investment space with excellent opportunities for Abac’s sustainable value investing strategy. We look forward to adding new portfolio companies to the two deals we have already successfully completed.”

Borja Martínez de la Rosa, founding partner of Abac Capital explains: “The fund aims to invest around €20m to €50m per deal in eight to 12 companies, in situations where an ownership change, increased liquidity and better governance can unlock significant value.”

MVision Private Equity Advisers acted as global fundraising adviser. King & Wood Mallesons acted as legal counsel.

 

Source: Abac Capital Press Release

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