Spanish private equity investment up by 25%

According to a recent report by the Spanish venture capital association ASCRI, private equity investment by Spanish firms has reached €415m in the first half of 2003, showing a rise of 25% compared to the same period last year. With a dearth of deals over €10m, the majority of investments were made at the lower end of the scale, in a trend that is consistent with the Spanish tendency to focus on expansion deals involving minority stakes. Only 25% of Spain’s private equity activity has been in buyouts, compared to the European average of 50% to 60%, with around 60% being invested in expansion capital deals. Exits were disappointing again, with a total of just €100m being made in the first half of this year.

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• Topics
• Performance
• Southern Europe