JZCP targets Spain with new joint venture Toro Finance

The vehicle, Toro Finance, will provide short-term receivables finance to small and medium-sized companies in Spain. The company is expected to hold €400m of assets.

JZCP invested €26m via its European Micro Cap fund to secure, together with Toro's management, a 50% stake in the joint venture.

David Zalaznick, JZCP's founder and investment adviser, said in a statement: "Toro Finance aims to provide high risk-adjusted returns by purchasing senior account receivables issued by major Spanish companies at a significant discount from par."

Headquartered in New York but with an office in London, Avenue Capital is a global investment firm operating in the private and public debt, equity and real estate markets. The firm targets the US, Europe and Asia.

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• Topics
• UK / Ireland
• Southern Europe
• Financing
• GPs
• Spain
• JZ Capital Partners