GED Capital secures €80m for new fund

GED V España is the firm's seventh fund overall, and the fifth with a primary focus on buyouts. The GP is aiming for a €150m target and expects to hold a final close in 2016. This latest vehicle is pushing GED's assets management to €800m across private equity, real estate and infrastructure.

Investors
GED stated it had been able to attract a number of institutional investors, including Fondo ICO. The Spanish state-backed fund-of-funds managed by Axis announced the recipients of its fourth set of allocations, including GED, earlier this year. The fund will commit €124m to six growth capital, venture capital and incubator vehicles. From the €756m tender, €573m is specifically designated for investment in Spain.

In addition, GED V España has so far received commitments from insurance companies, mutual funds and several family offices.

Investments
The lower-mid-market fund will acquire majority stakes and to a lesser extent minority stakes via buyouts and growth capital deals for medium-sized Spanish industrial companies.

GED expects to perform between 8-10 investments via the new fund, deploying between €15-25m of equity per deal. The fund will target companies with EBITDA in excess of €3m.

People
Enrique Centelles Satrustegui is managing partner of GED.

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• Topics
• Southern Europe
• Buyout
• Spain