Ex-IK Investment Professional Nils Lüssem Joins Ergon Capital

Former IK Investment Partners associate director Nils Lüssem has been appointed by middle-market private equity firm Ergon Capital Advisors as its principal.

Ergon Capital Advisors, the pan-European private equity firm backed by listed industrial holding company Groupe Bruxelles Lambert, has made Nils Lüssem a principal.

Lüssem, previously an associate director with IK Investment Partners, is based in Ergon’s Brussels office and covers the German-speaking region. The firm has additional offices in Milan, Madrid and Paris.

Lüssem started his career at Merrill Lynch before moving on to work in IK’s Hamburg office in 2007.

Source: RealDeals

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, IK Investment Partners, Nils Lüssem, Mid-Market Private Equity, Ergon Capital Advisors, Pan-European Private Equity, Groupe Bruxelles Lambert, Brussels, German, Milan, Madrid, Paris, Merrill Lynch, Hamburg.


Spain’s Corpfin Capital Buyout Fund Reaches First Close at €145M

Corpfin Capital, a private equity located in Madrid, Spain, announced has raised €145 million for Spain’s first corporate buyout fund to reach a close in four years.

According to a person familiar with the matter, the Madrid-based buyout firm has reached an initial close for its fourth fund, Corpfin Capital IV, which has a target of €200 million and a hard cap of €250 million.

The fund is the first focused on traditional corporate buyouts in Spain to reach a close since 2010, according to data provider Preqin. At the peak of the market in 2008, there were seven buyout funds that raised aggregate commitments of €1 billion.

The first drawdown will be made on April 23 to finance the fund’s first deal, the €32 million buyout of logistics company FCC Logística, which was announced in February, the person added.

The firm is working with placement agent Acanthus Advisers to help raise the new fund.

Source: Financial News

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Corpfin Capital, Madrid Private Equity, Spanish Private Equity, Spain, Madrid, Corpfin Capital IV, FCC Logística, Acanthus Advisers.


Francisco de Undurraga Rejoins Condor Resources’ Board of Directors

Mr. Francisco de Undurraga has re-joined the Board of Directors of Condor, according to company’s announcement.

Mr. de Undurraga is a resident of Santiago, Chile, is a significant shareholder of the Company, and is currently a member of Condor’s Technical Advisory board.

Mr. de Undurraga is a member of the board of Sundance Investment LLC, a company controlled by Citigroup Venture Capital International (CVCI), operating in oil exploration in the Peruvian Amazonia since 2006. He is also the founder and Chairman of FIP Ariston Cima, a private investment fund based in Santiago, Chile, since 2004, and managed by BTG Pactal, one of the most important South American investment banks.

Ariston Cima manages diversified investments in the forestry, real estate, oil and mining exploration and financial sectors. Mr. de Undurraga has had an extensive corporate executive career, holding positions as senior executive and CEO in several Chilean based companies that include Enersis and Laboratorio Chile, both with wide international operations in South America and listed on the Santiago Stock Exchange and NYSE.

Mr. de Undurraga originally graduated as Civil-Industrial Engineer from the Universidad de Chile in Santiago, and subsequently graduated in Nuclear Engineering from the International Atomic Energy Agency (IAEA) in Madrid, Spain. He also graduated from the Stanford Executive Program at Stanford University in California.

Source: Junior Mining Network

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Francisco de Undurraga, Condor Resources, Santiago, Chile, Sundance Investment LLC, Citigroup Venture Capital International, CVCI, Peruvian Amazonia, FIP Ariston Cima, BTG Pactal, South America, Investment Bank, Enersis, Laboratorio Chile, the Santiago Stock Exchange, NYSE, Universidad de Chile, Nuclear Engineering, International Atomic Energy Agency, IAEA, Madrid, Spain, Stanford University, California.


Private Equity-Backed Odigeo Announces €350M IPO

Odigeo, the Spanish online travel agency owned by Permira Advisers LLP and Ardian, is set to raise approximately €350 million for its initial public offering.

Odigeo, owned by Permira Advisers LLP and Ardian, the private-equity firm formerly known as AXA Private Equity, would then begin trading in Madrid in early April, said the people, who asked not to be named as the details aren’t public. The Barcelona-based firm could be valued at about 1.5 billion euros, including about 300 million euros in debt, and may float as much as 30 percent, one of them said.

Spanish companies including Applus+, which inspects everything from cars to electronics, and cable operator Grupo Corporativo ONO SA are planning IPOs as investors return to the Iberian market on the promise of an economic recovery. There were no IPOs in Spain since the April 2011 listing of Bankia SA, the domestic lender which then required a government bailout during the sovereign debt crisis, according to data compiled by Bloomberg.

Representatives for Permira and Ardian declined to comment.

Source: Bloomberg

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Odigeo, Spain, Online Travel Agency, Permira Advisers LLP, Ardian, AXA Private Equity, Madrid, Barcelona, Applus+, Grupo Corporativo ONO SA, IPO, Initial Public Offering, Bankia SA.


Three Vets Apax Partners Executives Create Spanish Investment Firm

Three former executives from Apax Partners, a UK-based private equity and venture capital firm, have launched Abac Capital, a new Spain-focused investment firm.

Oriol Pinya, former Apax equity partner, as well as head of the firm’s Spanish office and co-head of its global retail & consumer team, is joined by tech and telecom-focused partner Borja Martinez de la Rosa and retail and consumer-focused former associate Javier Rigau.

Located in Barcelona and Madrid, the firm will invest across the capital structure of “solid Spanish businesses” that require financial support. The firm can invest its capital in both equity and debt-like instruments, it said. It will target sectors including consumer, TMT, services, industrials and energy.

Abac is looking to raise €200m for its inaugural fund, the firm said.

Last year Apax closed its eighth buyout fund on $7.5bn, within fifteen months of the first closing in March 2012. Meanwhile it wound down its Spanish operations, as part of a ten per cent cut in global staff numbers.

Source: AltAssets

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Apax, Apax Partners, UK Private Equity, Abac Capital, UK, Spain, Investment Firm, Oriol Pinya, Borja Martinez de la Rosa, Javier Rigau, Barcelona, Madrid, Spanish Business.


Raffaele Legnani Joins H.I.G. Capital’s Milan Office as MD

Raffaele Legnani has joined H.I.G. Capital, a leading global private equity firm with more than $13 billion of equity capital under management, as a Managing Director to lead its efforts in Italy.

H.I.G., through its H.I.G. Europe affiliate, currently has a team of over 50 investment professionals based in Europe, operating out of offices in London, Hamburg, Madrid and Paris. H.I.G. Europe is one of the most active private equity investors in Europe, having completed 28 investments since it began investing in 2008. In July 2013, H.I.G. Capital successfully closed H.I.G. European Capital Partners II at €825 million ($1.1 billion), significantly above its initial target. The fund will follow the strategy of its predecessor fund, focusing on buyout and growth capital investments in middle-market companies primarily in Western Europe.

Mr. Legnani was previously founding partner of Atlantis Partners in Milan, the leading independent institutional investment firm focused on Italian mid-size companies in Special Situations. Before that, Mr. Legnani has successfully invested in a significant number of buyout transactions, both directly and through specialized private equity funds (the London based Stellican and the US based Wexford Management) serving as operating board member for several portfolio companies.

Source: National Post

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity Fund, Private Equity investment, Private Equity Investor, Fund of Fund, Private Equity business, Private Equity industry, PE, Raffaele Legnani, H.I.G. Capital, Italy, Italian Office, H.I.G. Europe, London, Hamburg, Madrid, Paris, H.I.G. European Capital Partners, Buyout, Growth Capital Investment, Western Europe, Atlantis Partners, Milan, Stellican, Wexford Management.


Condor Appoints Francisco de Undurraga to Company’s Advisory Board

Mr. Francisco de Undurraga has been appointed by Condor Resources Inc., a mineral exploration specialists focusing on generating Copper and Gold projects in South America, to join the Company’s Technical Advisory Board.

Mr. de Undurraga is a resident of Santiago, Chile, a significant shareholder of the Company, and formerly served as a director.

Mr. de Undurraga is a member of the board of Sundance Investment LLC, a company controlled by Citigroup Venture Capital International (CVCI), operating in oil exploration in the Peruvian Amazonia since 2006. He is also the founder and Chairman of FIP Ariston Cima, a private investment fund based in Santiago, Chile, since 2004, and managed by BTG Pactal, one of the most important South American investment banks.

Ariston Cima manages diversified investments in the forestry, real estate, oil and mining exploration and financial sectors. Mr. de Undurraga has had an extensive corporate executive career, holding positions as senior executive and CEO in several Chilean based companies that include Enersis and Laboratorio Chile, both with wide international operations in South America and listed on the Santiago Stock Exchange and NYSE as well. Mr. de Undurraga originally graduated as Civil-Industrial Engineer from the Universidad de Chile in Santiago, and subsequently graduated in Nuclear Engineering from the International Atomic Energy Agency (IAEA) in Madrid, Spain. He also graduated from the Stanford Executive Program at Stanford University in California.

In conjunction with his appointment to the advisory board, Mr. Undurraga has been granted 200,000 incentive options, with an exercise price of $0.12.

Source: Wall Street Journal

 

Tags: Venture Capital, Venture Capital firm, Venture Capital group, Venture Capital industry, Venture Capital investment, Venture Capital Investor, Venture Capital fund, VC Funding, VC, Francisco de Undurraga, Condor Resources Inc., Mineral Exploration Specialist, Copper and Gold, South America, Santiago, Chile, Sundance Investment LLC, Citigroup Venture Capital International, CVCI, Peruvian Amazonia, FIP Ariston Cima, BTG Pactal, Real Estate, Oil and Mining Exploration, Santiago Stock Exchange, NYSE, International Atomic Energy Agency, IAEA, Madrid, Spain, Stanford University, California.


ONO SA Close to IPO

ONO SA, a Spanish broadband communication and entertainment company, delivering integrated telephone, television and Internet services, is close to hiring banks for an IPO, sources told Bloomberg.

The Spanish cable operator may pick Deutsche Bank AG (DBK) and JPMorgan Chase & Co. (JPM) in the coming weeks for the IPO after inviting banks to bid for the work, the people said, asking not to be identified before a final decision is made. Madrid-based ONO held talks with investment banks in December and could sell shares this year if it decides to proceed, the people said.

The broadband provider could be valued at about 6.4 billion euros ($8.7 billion) in an IPO including debt, or 8.5 times its 2012 earnings before interest, taxes, depreciation and amortization, said Francisco Salvador, a Madrid-based strategist at FGA/MG Valores.

ONO’s Ebitda in 2012 rose 0.5 percent to 752 million euros, a company statement showed. ONO had about 1.9 million residential customers and 118,000 small-office and home-office clients at the end of September. Its net debt at the time was 3.3 billion euros.

Source: Bloomberg

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity Fund, Private Equity investment, Private Equity investor, Fund of Fund, Private Equity business, Private Equity industry, PE, ONO SA, Spain, Broadband Communication, Entertainment Company, Telephone, Television, Internet, IPO, Deutsche Bank AG, JPMorgan Chase & Co., Madrid, Francisco Salvador, FGA/MG Valores.


Permira and Ardian Consider Opodo IPO in Spain

Go Voyages’s Initial public offering this year for the online travel agent that operates under the brands Opodo, GO Voyages, eDreams and Travellink, have been analyzed by the private equity owners of eDreams Odigeo.

The plan is at an early stage and is expected to value the company at about €1.5bn including debt.

A decision to float eDreams Odigeo in Madrid would follow the planned listing of Applus, the certification specialist owned by Carlyle, on the Spanish stock exchange, in a sign of growing investor confidence in the country.

The internet travel company is the combination of several acquisitions of European online operators. Paris-based Ardian, formerly known as Axa Private Equity, bought Go Voyages for €300m-€350m in 2010, outbidding Permira. A few months later, London-based Permira outbid Ardian to buy Barcelona-based eDreams for €250m-€300m.

A year later, both private equity groups teamed to make a joint €500m offer for Opodo, as they sought to build a European champion in the internet travel market to challenge Expedia and Orbitz of the US.

A listing could happen as soon as the first half of this year, possibly in April, one of the people with knowledge of the matter said.

Source: Financial Times

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity Fund, Private Equity investment, Private Equity investor, Fund of Fund, Private Equity business, Private Equity industry, PE, Initial Public Offering, IPO, Permira, Ardian, Opodo, Spain, GO Voyages, eDreams, Travellink, eDreams Odigeo, Madrid, Applus, Carlyle, Spanish Stock Exchange, Paris, Axa Private Equity, London, Barcelona, Europe, US.


Odigeo Eyes 2014 IPO

Odigeo owners along with JPMorgan Chase & Co. and Deutsche Bank AG are working to help prepare an initial public offering of the online travel agency in 2014.

Odigeo, owned by Permira Advisers LLP and Ardian, the private-equity firm formerly known as AXA Private Equity, may be valued at about 1.5 billion euros ($2 billion), said one of the people, asking not to be named because the details aren’t public. The company is deciding whether to sell shares to the public in London, Paris or Madrid, according to the person.

Odigeo, with more than 15 million annual customers according to its website, was formed in 2011 with the merger of eDreams and Go Voyages, backed by Permira and Ardian respectively, alongside the acquisition of Opodo from Madrid-based travel services group Amadeus IT Holding SA.

Spokesmen for the banks and the private equity owners of Odigeo declined to comment. Spokesmen for Odigeo declined to immediately respond to an e-mail seeking comment.

Source: Bloomberg

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity Fund, Private Equity investment, Private Equity investor, Fund of Fund, Private Equity business, Private Equity industry, PE, Odigeo, JPMorgan Chase & Co., Deutsche Bank AG, Initial Public Offering, IPO, Permira Advisers LLP, Ardian, AXA Private Equity, London, Paris, Madrid, Amadeus IT Holding SA.


Citigroup Infrastructure Managing Director to Join AXA Private Equity

A former investment executive from Citigroup’s infrastructure team has joined AXA Private Equity, a diversified private equity firm with $28 billion of assets managed or advised and with an international reach across Europe, North America and Asia, marking the latest exit from the Wall Street bank amid a wider wind down of its alternatives unit.

Juan Angoitia has joined AXA Private Equity’s infrastructure team in Paris as a managing director, according to a statement. Angoitia joins from Citi Infrastructure Investors, where he spent five years as an investment principal based in London. He managed a number of high profile investments at CII, including Spanish toll road concession Itinere Infraestructuras and UK water utility Kelda.

Prior to joining CII in 2008, Angoitia spent seven years in the London, Sydney and Madrid offices of the airports division of Spanish infrastructure giant Ferrovial, where he served in a number of senior roles, according to his LinkedIn page.

Angoitia’s departure from Citi comes amid plans to close its Citigroup Alternative Investments unit, according to a memorandum seen last month by The Wall Street Journal. The division – which has since been renamed Citi Capital Advisors – includes CII, emerging markets fixed income unit EMSO Partners, North American private equity unit Metalmark Capital, and emerging markets-focused Citi Venture Capital International. Source

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity fund, Private Equity investment, Private Equity investor, Fund of Fund, Private Equity business, Private Equity industry, PE, AXA Private Equity, Citi, Citigroup, Wall Street, Wall Street Bank, Juan Angoitia, Citi Infrastructure Investors, CII, Itinere Infraestructuras, Kelda, London, Sydney, Madrid, LinkedIn, Citigroup Alternative Investments, Citigroup Alternative Investments Unit, The Wall Street Journal, Citi Capital Advisors, EMSO Partners, North American Private Equity Unit, Metalmark Capital, Citi Venture Capital International.


Britain’s Private Equity Firm Doughty Hanson to Sell Avanza Group

A British private equity fund manager focused on leveraged buyout and recapitalization transactions primarily of upper middle-market companies in Europe Doughty Hanson & Co. has agreed to sell Spanish bus and bus-station operator Avanza Group SA to a Mexican bus operator Grupo ADO SA for an undisclosed sum.

Grupo ADO SA, a Mexican bus operator, purchased Avanza, Doughty Hanson said in a statement today. The sale is the firm’s fifth in 12 months as it looks to return capital to investors before raising a new 2 billion-euro ($2.7 billion) fund.

Doughty Hanson bought Madrid-based Avanza in February 2007 and made six acquisitions for the business, including CTSA Portillo SA. The private-equity firm refinanced the company with a 490 million-euro bond issue in May.

Private-equity firms typically pool money from pension plans and endowments with a mandate to buy companies within five to six years, then sell them and return the money and a profit after 10 years. The firms usually charge a management fee of as much as 2 percent and keep 20 percent of the profits from investments. Source

 

Tags: Private Equity, Private Equity firm, Private Equity Company, Private Equity investment, Private Equity Fund, Private Equity Fund of Fund, British Private Equity, UK Private Equity, Buyout, Leveraged Buyout, Buyout Firm, Europe Doughty Hanson & Co., Doughty Hanson, Spain, Spanish Bus, Spanish Bus-Station Operator, Avanza Group SA, Mexico, Mexico Bus Operator, Grupo ADO SA, Madrid, CTSA Portillo SA.


Private Equity Investors Being Drawn to Spain Market

The article below talks about private equity investors getting increasingly more attracted to Spanish property industry, which is a good sign for the market according to report.

Following the sale of Sareb’s Bull portfolio, Goldman Sachs private equity and Azora have now bought 3,000 residential flats from the regional government of Madrid. The sale totaled €201 million (£171 approximately) and signals the highest level of activity since the market crashed.

The portfolio is comprised primarily of flats in Madrid that are part of a scheme to give homes to people below 35 with below-average incomes. Known as the Young Plan, residents would later have the right to buy a flat. However, the Madrid regional government has one of the largest budget deficits out of the autonomous communities and will use proceeds from the sale for public spending. Currently, it isn’t known how Goldman Sach and Azora will split the portfolio.

This recent sale is the latest involving private equity investors and Madrid city has recently sold a package of 1,860 rent-controlled properties to Blackstone for €125.5 million (£107 million approximately). HIG Capital also procured project Bull in the first high-profile sale for Sareb. The portfolio included a 51 per cent stake through the low-tax financial vehicle known as the Bank Asset Fund, giving HIG 939 homes, 750 car parks, storage units and one retail unit. Source

 

Tags: Private Equity, Private Equity investment, Spain Private Equity, Spanish Private Equity, Private Equity fund, Private Equity Company, Private Equity investors, Sareb’s Bull, Goldman Sachs Private Equity, Azora, Madrid, Young Plan, Blackstone, HIG Capital, Bank Asset Fund.


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Madrid Private Equity Guide

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Tags: Madrid private equity profile, Madrid private equity, Madrid private equity firms, Madrid finance, Madrid private equity industry, private equity firms in Madrid, Madrid guide, Madrid private equity guide, private equity funds in Madrid, buyout firms in Madrid, venture capital, Madrid, private equity, Madrid regional profile


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