King & Wood Mallesons (KWM) advised Nexxus Iberia on the closing of its new private equity fund, Nexxus Iberia Private Equity Fund I, with €130 million in capital commitments, out of a target size of €200 million. The limited partners of the fund at the first closing include institutional investors, as well as high net worth investors and family offices from Mexico and Spain.
Nexxus Iberia Fund I is being formed to invest in 8 to 10 small to medium sized companies in Spain and generate compelling returns for investors. The fund will make individual equity investments typically of €10 million to €25 million through flexible majority and minority financing solutions. Nexxus Iberia expects to complete its first investment in the following months, reaching its final closing later this year.
Isabel Rodríguez, partner and head of Funds at KWM in Madrid, led the three-strong team, comprising also of senior associate Ildefonso Alier and associate Maria de Orueta.
According to Isabel Rodriguez, “the closing of Nexxus Iberia’s fund is one of the first that have materialised this year, and it is a clear example of the great prospects for the private equity sector in 2018. In general terms, 2017 was extremely positive and we estimate that 2018 will maintain this trend, both in funds structuring and private equity deals”.
The Nexxus Iberia team was led by Maite Ballester, Alejandro Diazayas and Pablo Gallo.
Maite Ballester, Managing Partner, commented: “We’re truly excited to reach a first closing with more than half of the fund’s target. The fund has a very interesting pipeline of Spanish companies with large growth potential and very solid business fundamentals that allowed them to navigate through the Spanish economic crisis of the past years”.