New AltamarCAM background. The National Securities Market Commission (CNMV) has approved the launch of the new vehicle of the private fund manager led by José Luis Molina and Claudio Aguirre. focused on private equity co-investments (private equity) from other managers.
According to sources from AltamarCAM to ACTIVOS, Prensa Ibérica’s economic vertical, the aim of the new tool is to “continue to offer its clients the opportunity to participate in direct investments in their assets”. private equity”. This is a strategy the manager has been developing through different funds since 2013, but This time it became an independent tool.
Venture capital fund ACP Private Equity Coinvestments Fund I will invest operations buy From the hands of managers “with recognized experience, primarily in Europe and North America”, although there are no limitations in geographical scope, “these operations are diversified in different sectors and in terms of the size of the company” leveraged buyout (LPO) involves purchasing a company that has debt and repaying that debt with the cash flows the company generates.
According to the prospectus published in the CNMV, the fund may prefer investments made through debt through the provision of participatory loans and other forms of financing. You cannot allocate more than 15% of the fund capital to a single company acquisition.. The useful life of the vehicle will be eight years from the initial closing, but may be extended for an additional three years, up to a maximum of eleven years, at AltamarCAM’s discretion.
The vehicle will be audited by PwC, the custodian will be BNP Paribas; Malpica Estudio Jurídico and Jiménez & Sanz Abogados serve as legal advisors. Vehicle manager offered six different types of backgroundsTheir commissions vary, two are for AltamarCAM’s other instruments only, one is for the employees of the management company, and the other three are publicly financed instruments and based on the capital committed by the participants (limited partner or LP), from 1-2.5, 10 and 25 million euros.
AltamarCAM raises capital for real estate investment
AltamarCAM, which has been 40% owned by investment giant Permira since last summer, introduced its second investment fund focused on the real estate sector just a few weeks ago, in October. They will grow by joining hands with their first partner, Elix 150 million investment for the purchase, renovation and rental of residential buildings In the center of Madrid and Barcelona, especially in the capital. The corporate formula chosen was that of Socimi (Listed Public Limited Real Estate Investment Companies), which had to list on the stock exchange within two years; This is something to be achieved in the Euronext Access market, as its supporters confirm.
The first real estate fund from AltamarCAM and Elix, a manager led by CEO Teresa Marzo, was sold to the investment arm of insurance company Allianz for around 140 million euros, within just four years of its founding. In total, by vehicle Elix Vintage Residencial Socimi had a portfolio: 22 buildings and 421 houses in Madrid and Barcelona.