EIF and Oquendo to launch €100m Iberian fund
Spanish bank Banca March, the European Investment Fund (EIF) and Spanish Iberian mezzanine provider Oquendo Capital are to raise a fund to back local SMEs, according to local reports.
The fund, Oquendo Mezzanine II, has a €100m target and will make investments of €5-15m in around 12 companies. The investment period will begin this year, and last around four years.
EIF will commit 33% of the vehicle's capital, while pension funds, insurance companies and other institutional investors will form a significant part of the vehicle's LP base.
The GP will support shareholder reorganisations, capital expenditure and debt restructurings alongside equity investments from private equity firms in the Iberian market, following on from the objective of the first Oquendo fund, which held €50m and is now fully committed.
Alfonso Erhardt and Daniel Herrero will manage the fund.
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