Portobello Capital is a leading independent Mid-Market Private Equity manager in Iberia, with AuM worth around 1.2 billion euro and a team with twenty-five professionals.
Fund III was closed in 375 million euro in August 2014 and it is fully invested. Currently, Portobello Capital is raising its Fund IV, that has done a 540m close and expected to get to the 600m hard cap before the year end. FIV follows the same strategy than FIII: we take controlling stakes in leading companies in underpenetrated niches, with growth unrelated to Macro and create value boosting real growth in them, playing an active part in their management. FIV has already materialized its first investment in a large group of dental and aesthetic medicine clinics in Spain.
Institutional International investors represent 86% of the commitments of the funds. In FIV, 18% of the money raised comes from French Investors. Attending IPEM 2017 was really useful in our Fundraising, we had twelve meetings with relevant investors in two days, coming from Europe and the US.
Private Equity in Spain has been growing heavily for the last three years. Investment Volume had tripled 2016 figure in the first half of 2017, this confirms that we are in a new stage of growth, but still far away from our neighboring countries.