Corsabe takes break from private equity
Corporación Sant Bernat (Corsabe) has decided to leave private equity investing and has changed its business structure to that of a limited company.
The investment group, which was founded by Pedro Cuatrecasas and a group of Catalan families in 1986, says it is seeking some time for reflection to prepare for a new phase of investment.
Corsabe President Isidro Abelló said the company is in a period of "stand by" and may raise a new fund once the economic crisis shows greater signs of recovery.
The news comes only months after Corsabe closed several divestments as part of one of the most successful operations in its history. The firm reaped €13.6m in profits from its sale of sticker factory Ovelar and its stakes in the websites Softonic España, Softonic Internacional and Infojobs Internacional.
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