
Iberian private equity: special report

Enthusiasm for Iberian markets has returned lately, with some international investors in the audience of a recent industry conference citing Spain as the most attractive target for private equity. The government’s structural reforms have reassured GPs that growth will return and, for those investors brave enough to take a long-term view, that is enough to convince them to take the plunge.
Now is the time to back Spanish companies says Carlos Lavilla, president of Spain's industry association Ascri. For those GPs considering sectors of a cyclical nature, with a return to growth virtually assured, deals at the bottom of the economic cycle are there for the taking.
Counter-cyclical sectors such as telecommunications have proved resilient, attracting the biggest deals of 2012. Similarly in the VC space, several tech companies have succeeded in attracting the continued attention of international investors, securing initial investments and follow-on rounds.
But those less convinced of the opportunities in the local market have sought to harness the growth experienced on Latin American shores, taking advantage of longstanding ties with the continent.
unquote" explores the Iberian PE market, as international investors show renewed interest in the region.
Even the oft-forgotten Portuguese market has already shown an improvement on 2012, reeling in GPs with the export credentials of local firms, which have never experienced the domestic boom of their Spanish neighbours.
Iberia returns to the spotlight
Ascri president discusses renewed enthusiasm for the region
Blackstone appoints MD for Iberia
HIG completes first investment from Madrid office
EIF and Oquendo to launch €100m Iberia fund
Portugal back in the game
Portugal's export credentials lure GPs back
N+1 buys Probos from Explorer
Strengthening Latin American ties
Chilean financial institutions buy stake in Spanish FoF
Spanish GPs set their sights on Latin America
Telefónica launches €300m network of VC funds
Spanish telecommunications firms attract the big bucks
Bain buys Telefónica unit for €1bn
Investindustrial and Trilantic buy Euskaltel
Support for Catalonian SMEs blossoms
Suma Capital launches new fund
VenturCap launches second venture vehicle
Handful of tech firms are apple of VCs' eye
Idinvest leads €6m round for Social Point, ahead of Greylock Partners' later investment
AlienVault raises $22.4m, then Trident leads an €8m round for the firm
Inveready pumps €600,000 into Indisys and commits further capital only a few months later
Portfolio companies readjust to changing climate
3i's La Sirena completes refinancing plan
PE-backed Cortefiel refinances €1.3bn debt
Advent's Maxam completes €280m refinancing
Axa and Permira's Odigeo complete refinancing
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