Abac holds €320m final close for maiden fund

The fund is the first vehicle managed by the Spanish GP, founded in 2014 by a number of former Apax Partners employees. According to press reports, the vehicle achieved the largest final closing for a maiden fund in southern Europe since the 2008 crisis.

MVision Private Equity Advisers acted as global adviser for the fundraising activity, while King & Wood Mallesons acted as legal adviser.

Investors
The fund secured 40% of its commitments from European institutional investors, while 30% of the capital was committed by investors based in North America and 10% by Asian investors. The remaining 20% was committed by Spanish investors.

Investments
The vehicle targets majority acquisitions in Spanish mid-sized companies with an enterprise value in excess of €30m, investing equity tickets ranging between €20-50m. It will primarily invest in companies operating in the consumer, energy, industrials, technology, media and telecommunications sectors.

The fund intends to complete 8-10 transactions. In August 2015, the fund fully acquired Spanish auto parts producer Metalcaucho for €65m and in October 2015 purchased a majority stake in Barcelona-based furnishings producer Figueras International for €10m.

People
Abac Capital – Oriol Pinya (founding partner, CEO).

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• Topics
• Funds
• Buyout
• Southern Europe
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