Miura makes first closing at EUR80m

Fund

Miura Private Equity has reached the first closing of Miura Fund I at EUR80m. The fund was launched in June 2007 and is based in Barcelona. It has a lifespan of eight years, plus a two-year extension. Minimum subscriptions were set at EUR2m with the GP contributing 2% of the total sum. Management fees are standard 2% with a 20% carry and 8% hurdle.

The fund with a EUR100m target is forecast to meet its final target during the first semester of 2008. Clifford Chance has been retained as legal adviser.

Investors

The fund has received commitments from Reig Capital Group, Andosins Capital, Massena Capital Partners y Stevenson Investments LP.

Investments

The fund will focus on the Iberian Peninsula lower mid-market, investing between EUR6-15m in equity per transaction targeting majority positions, although a couple of significant minority stakes could be considered. The investors forecast closing between two to three deals per year and already have projects in the pipeline.

The exit strategy will consist mostly of trade sales and secondary buyouts given the size of the targeted acquisitions.

People

Luis Segui and Juan Leach co-manage the fund. Prior to launching Miura, Segui worked at Nazca Capital, the private equity arm of Fortis Bank, while Leach draws his experience from his time at investment bank JP Morgan. The team also consists of Juan Rosell, who joined as chairman and who will assist with the generation of investment opportunities and two associates previously of Mercapital and Goldman Sachs. The team foresees the hiring of two analysts during the current year.

Name

Miura Fund I

Target

EUR100m

First close

EUR80m, February 2008

Focus

Iberia, buyout, generalist

Contact

Luis Segui

Address

Paseo de Gracia,

79 Principal 1a

08008

Barcelona

Spain

Tel: +34 93 272 3440

Fax: +34 93 272 3445

Advisers

Clifford Chance (Legal)

Auditors

Deloitte.

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• Southern Europe