Portobello Capital raises a new secondary fund of €350 million
Posted on Nov 16, 2020
The new fund, entitled, Portobello Secondary Fund II, will have as its main objective to promote the growth and internationalization of two of its investees, Angulas de Aguinaga and Industrias Alimentarias de Navarra (IAN).
The fund will also have an additional €100 million to undertake future acquisitions in Angulas de Aguinaga and Industrias Alimentarias de Navarra. Portobello Capital will remain in both companies for the next five years.
"With this new fund we are showing our reinforced commitment to leading companies such as Angulas Aguinaga and Industrias Alimentarias de Navarra in our bid to turn them into true multinationals in the food sector", says Iñigo Sanchez-Asiain, partner of Portobello Capital.
King Wood & Mallesons' Madrid office advised Portobello on both the structuring of the fund and the secondary operation, with a team that included partners Isabel Rodríguez, Ildefonso Alier, Pablo Díaz and Pablo Tejerizo.