Realza holds €125m first close for second fund

Amedeo Goria
06 July 2016

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Spanish private equity fund Realza Capital has held a first closing on €125m for its second vehicle, Realza Capital Fund II.

Launched in June 2015, the fund targets €200m of total capital commitments and has a €250m hard-cap.

In terms of investment strategy, the new vehicle will mainly follow its predecessor, which held a final close on €170m in 2008, exceeding its €120m target.

According to a statement, Elm Capital is acting as placement agent for the fund manager.

Investors
Realza Capital Fund II raised committed capital from both new and existing investors, with a large majority of international LPs, which included funds-of-funds, pension funds, insurance companies and banks. According to unquote", the GP's previous vehicle saw 90% of its capital commitments coming from international LPs.

Investments
The GP intends to acquire majority stakes, injecting equity tickets in the €15-30m range into Spanish family-owned SMEs.

The fund targets companies with enterprise value ranging between €20-100m and EBITDA between €5-20m, focused on niche market segments.

People
Realza Capital – Javier Benjumea (chair); Alfredo Zavala, Martín González del Valle (partners); Carlos Gazulla, Pedro de Peñaranda (investment directors).