Kartesia

Last week, Pedersen & Partners and CMS hosted the 𝟮𝟬𝟮𝟰 𝗦𝗽𝗮𝗻𝗶𝘀𝗵 𝗣𝗿𝗶𝘃𝗮𝘁𝗲 𝗘𝗾𝘂𝗶𝘁𝘆 𝗕𝗿𝗲𝗮𝗸𝗳𝗮𝘀𝘁 in 𝗠𝗮𝗱𝗿𝗶𝗱, uniting international private equity leaders to discuss ESG in fundraising, emerging trends in AI and FinTech, and strategies for value creation amidst geopolitical and economic challenges. Special thanks to our co-chairs, Alvaro Arias Echeverría (Pedersen & Partners) and Ignacio Zarzalejos (CMS Albiñana & Suárez de Lezo), and our esteemed panel of experts: David Martín (Tikehau Capital), Tomás Neuhaus (Kartesia ), Miguel Tiana Alvarez (COFIDES), Ricardo Velilla Flores (Aurica Capital), Lara Viada (Creas), Manuel Zayas Carvajal (Embarcadero Private Equity) for their invaluable insights. 𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝘄𝗮𝘆𝘀 from the discussion: 𝗦𝗽𝗮𝗶𝗻 𝗮𝘀 𝗮𝗻 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗗𝗲𝘀𝘁𝗶𝗻𝗮𝘁𝗶𝗼𝗻 📈 Spain presents a compelling opportunity for private equity and debt investors, particularly in sectors such as agritech, infrastructure, and energy transition. While certain regions are emerging as technology hubs, the country still has significant room for growth, particularly in software development. 𝗘𝘅𝗲𝗰𝘂𝘁𝗶𝘃𝗲 𝗧𝗮𝗹𝗲𝗻𝘁 𝗮𝗻𝗱 𝗜𝗻𝗰𝗲𝗻𝘁𝗶𝘃𝗲 𝗠𝗲𝗰𝗵𝗮𝗻𝗶𝘀𝗺𝘀 💼 Spain boasts a robust pool of highly trained and experienced executives. However, retention and incentive mechanisms at exit remain less competitive compared to other European countries, where leadership teams often receive up to 20% of the proceeds. 𝗙𝘂𝗻𝗱𝗿𝗮𝗶𝘀𝗶𝗻𝗴 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲 💰 Mid-market funds have begun fundraising, and larger fund managers are already engaging in substantial deals. An increased inflow of capital is anticipated once interest rates begin to decline. 𝗥𝗼𝗹𝗲 𝗼𝗳 𝗣𝘂𝗯𝗹𝗶𝗰 𝗘𝗻𝘁𝗶𝘁𝗶𝗲𝘀 🏛️ Public agencies have become pivotal in the allocation of funds. For instance, Cofides and ICO in Spain are driving initiatives such as the FOCUS and FIS programs, supported by the European Union. These initiatives represent €2.5 billion and €400 million, respectively, and aim to deploy capital over the next four years, both directly and via fund managers. 𝗘𝗦𝗚 𝗮𝗻𝗱 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 ♻️ Environmental, Social, and Governance (ESG) criteria play a critical role in fundraising across Europe. Sustainability and impact are treated as genuine investment priorities rather than mere administrative requirements. 𝗘𝗺𝗲𝗿𝗴𝗶𝗻𝗴 𝗙𝘂𝗻𝗱𝗶𝗻𝗴 𝗦𝗼𝘂𝗿𝗰𝗲𝘀 💸 Alternative fundraising avenues, such as search funds, are gaining traction in Spain, particularly within the lower mid-market segment. We thank all our participants for their contributions to the engaging and forward-looking discussions, which are essential in driving collaboration and innovation within the private equity ecosystem.

A full house for the Second Independent Sponsor Forum! Last year Independent Sponsors raised and deployed more than USD31 bn of capital - if there is one good news story in fundraising, this is it! On Tuesday, we were delighted to welcome more than 130 GPs, LPs, debt providers and other key contacts in the wonderful independent sponsor community for an afternoon of panels and networking. It was brilliant to have such an engaged audience and we are very grateful to all our internal and external speakers covering: -Do's and don'ts - what LPs like and dislike in ISP deals - Unlocking access to debt funding - Specialisation vs Generalisation - what works best for ISPs? I may have also "nerded" out slightly on the latest legal and tax trends with fellow partners Ben Cocoracchio, Nathan Pearce and Zoe Fatchen. Seeing lots of different approaches to funding structures at the moment. Thank you to our friends and co-organisers at Headway Capital Partners and Sebastian Junoy in particular for his perspective on the development of this market. Addleshaw Goddard is proud to work with so many stakeholders in this space. If you missed the event but would like to hear about the insights shared or compare notes, please do reach out to Jan Grüter, Nathan Pearce,Ben Cocoracchio, Zoe Fatchen or Mike Hinchliffe. #independentsponsors #onedealatatime #growth