Fineco, Kutxabank’s private bankwill expand its offer of alternative investments through a new private capital fund, with the specialized collaboration of the business banking division of the Kutxabank Group and of Elkargithe main guarantee company in Spain.
This new project was born with the aim of gaining “strong and long-term vision” access to the direct investment management market in companies, an area in clear growth in which they intend to consolidate “as a benchmark agent”.
The future fund expects to reach a total assets of €250 millionand intends to articulate in the modality evergreenthat is, without a specific divestment date.
Up to ten million ebitda
Through the fund, the strategic alliance will make direct investments in areas where Elkargi and Kutxabank have a deep understanding of the reality of local companies, which “means taking advantage of a differential competitive advantage over other similar initiatives, both Spanish and international”, defend the parties involved. Therefore, investments will have a greater concentration in companies located in the Basque Countryas well as in Navarra, La Rioja, Cantabria, Zaragoza, Malaga, Cordoba and Seville.
The target companies of the fund will be mainly firms between three and ten million ebitda, with a strong foothold in its economic sector, proven management capacity and strong growth forecasts.
This collaboration aims to “create value for companies and investors, and plans to consolidate itself as a reference in the investment ecosystem, by facilitating the connection between the business fabric and the assets of private investors seeking investment alternatives”.