N+1 raises €100m for latest fund

The vehicle will invest in mid-cap listed companies in Spain and Portugal, and has a €150m target.

Investors
QMC II has so far received capital commitments from 21 investor groups, including family offices and institutional investors, 55% of which are international.

Investments
The vehicle will acquire significant minority interests of 5-20% in listed Spanish and Portuguese companies, emulating the strategy of the preceding vehicle QMC I. To date, the preceding fund has generated an aggregate gain of €58m through disposals valued at an overall €150m.

Companies with a market capitalisation of less than €1bn with prospects for organic and M&A-led growth will be the fund's focus.

A portfolio of around five to seven firms will be pursued. The investor intends to reap returns from the current share price penalisation suffered due to turmoil in Spanish capital markets.

People
Jacobo Llanza is managing partner of the QMC funds.

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• Topics
• Southern Europe
• Funds
• Spain