The Nazca management team buys the shareholding of Fortis in the manager and AlpInvest becomes its main investor
Nazca Capital, the leading private equity firm in Spain in the mid-market segment, today announces the finalisation of the operation through which Fortis Bank SA/NV sells its shareholding in Nazca to the management team and agrees the incorporation of Dutch fund AlpInvest Partners N.V. in Nazca Fund II and the new Nazca Fund III. Nazca Fund II currently has a portfolio of 7 companies in various sectors.
As part of the operation, AlpInvest commits to providing additional capital to Nazca Fund II which will allow it to continue investing in companies of the portfolio and making new investments.
The Nazca manager becomes 100% owned by the management team.
AlpInvest, one of the largest investors specialised in private equity in the world, will be the investor of reference in the new Nazca Fund III, a fund of 150 million euros intended for investment in Spanish companies in the mid-market segment, which has planned a first finalization at the end of 2009.
Carlos Carbó, Managing Director of Nazca, stated “We are very pleased with the incorporation of Alpinvest, a top quality investor of reference, and to consider ourselves an independent private equity fund manager. The commitment of Alpinvest with Nazca demonstrates recognition of our experience since 2001, and will allow us to consolidate a diversified base of international investors for Nazca Fund III.”
Wouter Moerel, partner of Alpinvest, stated “We are very excited about our long-term association with the Nazca team, given its successful career in the Spanish mid-market. We fully trust in the capacity of the Nazca team to repeat the success achieved since its creation, and proof of this is our investment commitment in the new Nazca Fund III.”
Nazca will continue with its current generalist fund strategy, leading buyout and capital growth operations in the Spanish market in companies valued between 30 and 150 million euros.
Nazca was advised by DLA Piper; AlpInvest by Gómez-Acebo & Pombo and White & Case; and Fortis Bank by Uría Menéndez.