Madrid-based N+1, a financial services group active in the investment banking and asset management businesses, has launched QMC II Iberian Capital Fund (QMC II) which aims to raise a total of €150m.
It has already completed its first closing at €100m with 21 investor groups (family offices and institutional investors), 55% of which come from abroad.
The fund will take significant minority interests (5%-20% of equity) in listed Spanish and (possibly) Portuguese companies, with a market capitalization of less than €1 billion (mid-caps) that present high organic and M&A-led growth prospects.
The fund’s goal is to manage a concentrated portfolio of 5-7 companies that present solid fundamentals and substantial global
exposure and whose share prices are currently penalized by prevailing capital markets turmoil, particularly in Spain.