Arcano launches Global Opportunity Fund II

21 April 2008

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Fund

Arcano Capital, the private equity investment arm of Grupo Arcano, an independent Spanish advisory and investment management firm, has launched its second fund-of-funds, Arcano Global Opportunity Fund II with a target of EUR250m. The fund expects to hold its first close in the second quarter of 2008. Minimum subscription to this 10-year fund is EUR3m. Arcano Capital Investors, part of Grupo Arcano is acting as placement agent, while Rodes & Sala has been retained as legal adviser.

Investors

Approximately 70% of the funding will come from top-tier institutional investors such as banks, saving banks and pension funds, while the remaining 30% will come from family offices and high-net-worth individuals. The fund will mainly target Spanish and German institutional investors, but has received some interest from French and Portuguese institutions.

Investments

In order to build a diversified portfolio by geography, investment strategy, vintage year and fund manager, the Arcano Global Opportunity Fund II vehicle will invest in approximately 15 managers out of which 45% will be allocated to North American funds, 40% to European funds and 15% being to funds in Asia and Australia. Around 75% of capital will be allocated to top-tier buyout funds and up to 25% to turnaround/special situations funds. The fund will also analyse interests on the secondary market opportunistically and may allocate up to 15% of capital to direct co-investment opportunities. The average fund commitment will be EUR15-20m and average co-investment size will be EUR5-10m.

People

Arcano Capital has 14 professionals based in Madrid and New York and is managed by four partners: Ignacio Sarria, Alvaro de Remedios, Jaime Carvajal and Juan Jose Nieto, all experienced investment bankers. Arcano's fund investments will be managed by Yuliya Kaspler, the chief investment manager based in New York. Kaspler was previously responsible for fund-of-fund investments at Auda Private Equity. Arcano also has two senior investor relations executives, Lorenzo Madridejos and Constantino Gomez.

Name: Arcano Global Opportunity

Target: EUR250m

Launched: March 2008

Focus: Fund-of-funds, buyout

Contact: Ignacio Sarria

Address: Arcano Capital

Almagro, 31-3 degs

28010 Madrid

Spain

Tel: +34 (0) 91 700 38 80

Fax: +34 (0) 91 700 38 81

Advisers: