New sell-side adviser launches

Diagonal Corporate Finance, a new Barcelona-based corporate finance boutique, has joined the competition for private equity projects within the SME segment. It is understood that Diagonal will focus on sell-side work, as well as on capital increases for development projects in medium-sized businesses.

The new advisory house is fronted by Jose Maria Torrens, formerly a corporate finance director of Fibanc Medialanum, and Ignacio Villa, previously an investment director at Baring Private Equity Partners. The four projects the firm is currently working on are reported to be part of the non-core Spanish activity disposed by Italian bank Fibanc Medialanum. Currently, the two executives are working on their own, but are reportedly to hire a third partner within the next six months and a fourth later in 2008.

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• Southern Europe