Great Foreign Funds Break Into Market of Proffessionals to Invest in Spain

24/01/2014 – El Confidencial

Spain reappears within the international money´s radar range. The interest of the foreign investment funds in entering our country stimulates extraordinarily the labor market by a thriving executives´hiring wave, both of financial and corporate profile, just like in the times of bonanza. After few years of monitorizing from London or the New York, the companies decided to form local teams or to hire advisors to bring to an end their bet for Spain.

Ocasionally, some of the great funds wait for investments to step in, like the U.S. Anchorage that after acquiring the real estate assets from Eurohypo (Operation Copernicus) and buying shares in Codere and La Seda, has chosen executive director Juan José Nieto as its representative in Spain.

Other funds, however, prefer to hire advisors in order to measure the market pulse before they invest. So did the U.S. Searchlight (founded by ex-leaders of the giant Apollo) and it hired Gonzalo Díaz-Rato, an experienced CEO on the capital risk field. (…).

In this segment also other funds poised for the market, like Oaktree, Cerberus or Brookfield, all of them interested in the Spanish economy through the companies like  Panrico, BankiaHabitat or Abertis. In the role of the senior advisors, the companies casted Juan Arena (ex-chairman Bankinter), Juan Hoyos (ex-chairman of McKinsey) and Rafael Miranda (ex-managing director of Endesa), respectively.

As for the operative work, the hired directors´profile is more financial and ranges between 35 and 40-year old. For instance, the recent contracts signed by Fortress (Chema Cava), Varde (Héctor Serrat), Goldman Sachs (José Antonio Urquizu), Apollo (Enrique Ibáñez)  or HIG (Juan Barnechea) are of this type. (…).

The hiring wave results from the first activity of the investment funds in Spain that have decided to set operative structures up in the beginning of 2013, like the giants: Blackstone (Iñaki Echave) and KKR (Jesús Olmos). This year, others known from the international capital risk area like Cinven or BC Partners, are planning to make deals in Spain. The investor´s appettite has been always present in the country, but every time the difference between the buyer and seller blures.

Source: El Confidencial

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