Magnum back on the road for third fund

Iñaki Miguel (Mergermarket)
19 December 2019

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Spanish private equity house Magnum Capital is fundraising for a new vehicle, with a first close expected in Q1 2020.

Magnum is looking to raise €400-450m from institutional investors for Magnum Capital III, with a first close expected in Q1 2020 and a final close before August, according to partner Alberto Bermejo. Magnum is working with Moelis as placement agent.

Its predecessor, Magnum Capital II, has been almost completely invested, with only space for add-ons, Bermejo said. Launched in Q4 2014, Magnum Capital II held a final close in July 2017 on €394m, but it has invested around €500m thanks to co-investments, Bermejo said. The fund has nine platform companies in the portfolio, having already exited orthopaedic braces and supports manufacturer Orliman.

The GP's first vehicle closed on €866m in 2007.

Investments
Magnum focuses on mostly majority investments in Iberia-based companies in the industrial and services sectors, which may expand internationally. The previous vehicle targeted businesses with EV in the €100-800m range, according to Unquote Data.

Click here for more detail around Magnum's portfolio and upcoming investment plans.

People
Magnum Capital – Alberto Bermejo (partner).