Sherpa Capital closes second fund on €100m

Sherpa Capital II will seek turnaround opportunities in the Spanish lower mid-market. The vehicle launched only three months ago.

The GP raised its first fund in 2010. Its maiden vehicle held €30m, 80% of which was to be directed towards new investments with the remaining 20% earmarked for follow-on funding.

Sherpa committed 10% of the fund, which had a minimum subscription of €1m.

Portfolio companies in the latest vehicle include opthalmic lenses firm Grupo Indo, packaging company Bolfor and listed fabrics manufacturer Dogi.

Investors
LPs in the previous vehicle include high-net-worth individuals and family offices based in Spain and Latin America.

All investors re-upped to commit to the latest vehicle. Half of the LP base is comprised of international investors.

Investments
Sherpa's investment strategy sees the GP acquire majority stakes in distressed companies across all sectors, with particular interest in companies operating in the industrial, wholesale, distribution, food, services, transport, logistics, leisure and tourism sectors.

Companies in the previous vehicle had revenues of €10-100m.

People
Eduardo Navarro is president and founding member of Sherpa.

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• Topics
• Southern Europe
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