20 November 2020

King & Wood Mallesons advises Portobello Capital on the structuring of Portobello Secondary Fund II, specialised in the food sector

King & Wood Mallesons ("KWM") has advised Portobello Capital ("Portobello") on the structuring of its new  investment-vehicle, Portobello Secondary Fund II, a fund with a size of €350 million and aimed to the investment in two large food companies. The main objective of the new fund, led by Harbourvest, will be to promote the growth and internationalisation of two of its portfolio companies, Angulas Aguinaga and Industrias Alimentarias de Navarra (IAN), owner among others of the Carretilla brand products.

The new Secondary Fund II will include a 40% stake in Angulas Aguinaga, which was previously owned by Portobello Secondary Fund I (2015), and a 100% stake in Industrias Alimentarias de Navarra, which was previously owned by Portobello Fund III (2014). The new fund will also have an additional €100 million to undertake future acquisitions in both companies.

The KWM team that has advised Portobello in this deal was led by Funds Partner Isabel Rodríguez. Other relevant members have been partners Ildefonso Alier (Funds), Pablo Díaz (Corporate) and Pablo Tejerizo (Tax). 

Isabel Rodríguez points out: “As we have noticed over the last few months, secondary deals are becoming more frequent in the Spanish market. They present a good blueprint for divestments from remaining portfolio companies and to liquidate previous investment vehicles maintaining the profitability for investors. With no doubt during next year we will see more deals following this strategy”.

Previously, King & Wood Mallesons advised Portobello Capital on the structuring of its funds I to IV and on the secondary deal Portobello Secondary Fund I.


Media Contact

Share on LinkedIn Share on Facebook Share on Twitter
    You might also be interested in

    King & Wood Mallesons' Funds team has advised GED Capital on the launch of its first infrastructure fund, with a target size of €200 million

    02 November 2021

    Gonzalo Fernández Contreras, Senior Associate at the KWM Madrid office, was awarded Lawyer of the Year M&A in the Iberian Lawyer Forty under 40 Awards

    24 September 2021

    King & Wood Mallesons is advising Teset Capital on the structuring of its €400 million investment vehicle Teset Infrastructure Fund I

    08 September 2021

    Senior Associate Victoria Ruenes, highlighted as rising star in the ranking "Top Women in the Legal Sector – M&A, Spain 2021”

    26 July 2021

    You may also be interested in...

    Legal services for your business

    This site uses cookies to enhance your experience and to help us improve the site. Please see our Privacy Policy for further information. If you continue without changing your settings, we will assume that you are happy to receive these cookies. You can change your cookie settings at any time.

    For more information on which cookies we use then please refer to our Cookie Policy.