ProA Capital launches third buyout fund

The fund has a target of €450m and will start its investment activity by the end of 2018, according to Spanish press reports.

The vehicle is larger than its predecessor, Proa Capital Iberian Buyout Fund II, which was launched in June 2014 with a target of €325m and hit its €350m hard-cap in September 2015.

Investors
The fund's LP base is mainly composed of institutional investors, including Spanish and international pension funds, insurance companies and banks.

Investments
The vehicle will make between 8-14 investments in Spanish mid-sized companies, primarily based in Spain, and will deploy equity tickets between €10-60m, according to press reports.

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• Topics
• Funds
• Buyout
• Southern Europe
• ProA Capital
• Spain