Riverside to scale back Spanish operations

The firm will continue to source investments in Iberia and support existing portfolio companies, but will only maintain two members of staff at its Madrid office. 

According to Riverside, the news is part of a realignment of its European strategy. 

Earlier this year, Juan Barnechea, former head of European origination, left the firm for HIG Capital where he has been appointed director. 

According to unquote" data, Riverside's Spanish portfolio accounts for just 2% of its overall deal activity. 

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