King & Wood Mallesons ("KWM") has advised private equity firm Portobello Capital in the close of its first minority fund, Portobello Structured Partnerships Fund I, which has reached investment commitments of €250 million.
The strategy of this vehicle is aimed at the investment on minority stakes of between seven and nine companies in the mid-market segment, mainly in Spain and the rest of Europe. It is the first fund of this category raised in Spain and has a broad investor base composed of pension funds, funds of funds, insurers, sovereign wealth funds, banks, family offices and private investors.
KWM’s team of lawyers has been led on this project by the partner and director of the funds department Isabel Rodríguez, who has had the collaboration of the associates Arie Scharf and María de Orueta.
Currently, Portobello Capital has 1,900 million euros under management, and has been advised on numerous occasions by King & Wood Mallesons, highlighting the structuring of its funds I to IV and in the secondary operations Portobello Secondary Fund I and Portobello Capital Coinvestment.