Insights from the 2023 Spanish Private Equity & Venture Capital Breakfast
November 16th, 2023, Madrid
Today, Pedersen & Partners, in collaboration with CMS, hosted the Spanish Private Equity & Venture Capital Breakfast. The event fostered a dynamic environment, facilitating engaging discussions and valuable networking opportunities for international private equity leaders.
The panel discussions were led by:
- José Arango López de Letona – Partner, Teset Capital
- Leticia Bueno – Partner, Co-Head of the Junior Fund, Oquendo Capital
- Manuel Blanco – Founding Partner, ABE Capital Partners
- Jose Megia – Investment Manager, Charme Capital Partners
- Juan Eusebio Pujol – Operating Partner, Miura Partners
- Agustin Vitorica – Founder & Co-CEO, GAWA Capital
The panel discussion was co-chaired by:
- Alvaro Arias – Partner, Head of Private Equity Practice, Pedersen & Partners
- Ignacio Zarzalejos – Partner, Corporate/M&A, CMS
Here are the main key findings summarized by Alvaro Arias:
- Amidst a volatile macro environment, this year posed challenges in fundraising. Inflation and soaring interest rates escalated debt expenses, affecting potential investments and M&A activities. Spain, however, emerged as an inviting market with a rising GDP and positive global recognition. • The Private Equity landscape witnessed increased capital infusions in portfolio companies while experiencing a 30% dip in M&A operations. Amid rising prices, profitability risks loom large in future investments. Despite this, the industry remains optimistic for growth in 2024, pinning hopes on potential interest rate declines.
- Spain's Impact Investment scene has surged tenfold, underlining a remarkable shift toward responsible investing and burgeoning emphasis on ESG considerations. Long-term infrastructure investments benefited from rising interest rates, focusing on enduring returns.
- Central to successful investments is the alignment of management teams. CEOs' investment alongside Private Equity partners underscores long-term commitment and alignment.
- The rise of Operating Partners in Spanish Private Equity signifies a strategic move toward closer alignment and hands-on management for optimized profitability.
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