21 May 2015 – Expansión
Juan Pepa is in charge of the Spanish division of Lone Star.
Pepa, a 37-year-old former polo player from Argentina, is responsible for all the investments made by the American fund in both Spain and Portugal. After a decade working for Lone Star in London, Pepa began studying the Spanish market in 2010 with monthly visits. At the time, the Argentine manager already spoke of being a major industrial investor in the Spanish property market, buying companies in the sector. However, the price asked for by the owners of these companies did not fit with the aggressive bids of the fund, whose return on investment in recent decades has been 20%.
The situation changed throughout the economic crisis. In May 2014, Pepa carried out the first major operation, called Octopus, which involved loans related to financial assets valued at 5 billion euros. Eventually, Lone Star paid 3.5 billion. Today, after acquiring Neinor, he has announced that Lone Star will invest 1 billion over this year to buy land in Spain.
Original story: Expansión
Translation: James Leahu