Wednesday, 03 July 2019 12:20

Golden opportunity

The Iberian private equity sector is booming and lawyers are playing a significant role in the development of the industry, says Miguel Zurita, managing partner of Altamar Capital Partners and president of the Spanish Association of Capital, Growth and Investment (Ascri)

All law firms love to win private equity funds as clients. Well, from a financial perspective at least. While private equity funds can be very demanding clients who – when a deal is in the offing – want their lawyers to be at the end of the phone any time, day or night, they are also generally considered to be better payers when it comes to legal fees. So what are the prospects for the Iberian private equity sector? One of the best people to answer this question is Miguel Zurita, managing partner of Altamar Capital Partners – which has almost €6.5 billion of committed capital – and president of the Spanish Association of Capital, Growth and Investment (Ascri). Zurita says that in recent years there have been significant transactions in the energy, leisure and telecommunications sectors. “The bulk of the investments are buyout operations where the funds are acquiring control of previously consolidated companies of medium and large size,” Zurita explains. He adds that these deals coexist with a growing venture capital sector, which, he argues, is among the most dynamic in Europe and which, in terms of the number of transactions, accounts for the bulk of the market. Zurita also says that the Spanish market is very wide-ranging, though he highlights the consumer sector as being one of the major recipients of investment.


Indeed, the Iberian private equity market is booming. In 2018, the sector generated more than €6 billion in investment, in addition to a significant amount of disinvestment, the end result being that private capital is clearly playing a significant role in Spain’s economic development. As a result, Zurita is optimistic about the outlook for the Spanish economy in the next few years, regardless of where the country is in the economic cycle. Zurita also highlights the fact that there has also been considerable venture capital and private equity investment in Iberia in 2019 – during the first quarter of this year, the Iberian venture capital and private equity sector generated total investment of more than €1.5 billion (which amounted to 198 investments in total), a 49 per cent increase on the same period the previous year. Spain was one of the countries that suffered most during the financial crisis. Zurita says that the companies that managed to survive are those that are currently attracting the interest of private equity funds. “They are very high-quality companies, innovative even in traditional sectors, oriented to international markets, and with global aspirations,” he explains. “In addition, they are led by young, dynamic and very professional teams. “The Iberian market is currently the scene of many innovative transactions, according to Zurita. He highlights the agribusiness sector, in particular, as a once traditional sector where a lot of innovation is taking place and consequently giving rise to very innovative investments. Meanwhile, Zurita adds that, in the venture capital sector, there are many innovative companies, while at a global level, Spanish private equity funds are completing highly innovative credit transactions as well as deals related to ´special situations’ (which may involve bankruptcies or distressed assets, for example).

To read the article in full please download issue N.86 here

IL GoldAwards Save 300x100 2

banner latam awards2019

IL IstitutoInnovacionLegal 300 1

Iberian Lawyer
N.88 • October 07, 2019

IL88 Cover SP IL88 Cover EN

The Latin American Lawyer
N.9 • September 16, 2019

LAL9 20190916 EN
Mon Tue Wed Thu Fri Sat Sun

This website uses cookies

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the IberianLawyer website. However, you can change your cookie settings at any time. Learn more

I agree

What do I need to know about cookies?

A cookie is a small text file that’s stored on your computer or mobile device when you visit a website. We use them to:

  • Remember your preferences
  • Tailor our sites to your interests.

There are different types of cookies

First party cookies

These are set by the website you’re visiting. And only that website can read them.  In addition, a website might use a separate company to analyse how people are using their site. And this separate company will set their own cookie to do this.

Third party cookies

These are set by someone other than the owner of the website you’re visiting. 

Some IberianLawyer web pages may also contain content from other sites like Vimeo or Flickr, which may set their own cookies. Also, if you Share a link to a IberianLawyer page, the service you share it on (e.g. Facebook) may set a cookie on your browser.

The IberianLawyer has no control over third party cookies.

Advertising cookies

Some websites use advertising networks to show you specially targeted adverts when you visit. These networks may also be able to track your browsing across different sites.

IberianLawyer site do use advertising cookies but they won’t track your browsing outside the IberianLawyer.

Session cookies

These are stored while you’re browsing. They get deleted from your device when you close your browser e.g. Internet Explorer or Safari.

Persistent cookies

These are saved on your computer. So they don’t get deleted when you close your browser.

We use persistent cookies when we need to know who you are for more than one browsing session. For example, we use them to remember your preferences for the next time you visit.

Other tracking technologies

Some sites use things like web beacons, clear GIFs, page tags and web bugs to understand how people are using them and target advertising at people.

They usually take the form of a small, transparent image, which is embedded in a web page or email. They work with cookies and capture data like your IP address, when you viewed the page or email, what device you were using and where you were.

How does the Iberian Lawyer use cookies?

We use different types of cookies for different things, such as:

  • Analysing how you use the IberianLawyer
  • Giving you a better, more personalised experience
  • Recognising when you’ve signed in

Strictly Necessary cookies

These cookies let you use all the different parts of Iberian Lawyer. Without them services that you have asked for cannot be provided.

Some examples of how we use these cookies are:

  • Signing into the IberianLawyer
  • Remembering previous actions such as text entered into a registration form when navigating back to a page in the same session
  • Remembering security settings which restrict access to certain content.

Performance cookies

These help us understand how people are using the IberianLawyer online, so we can make it better. And they let us try out different ideas.
We sometimes get other companies to analyse how people are using the IberianLawyer online. These companies may set their own performance cookies You can opt out of these cookies here.Some examples of how we use these cookies are:

  • To collect information about which web pages visitors go to most often so we can improve the online experience
  • Error management to make sure that the website is working properly
  • Testing designs to help improve the look and feel of the website.
Cookie nameWhat it's for
Google DoubleClick The IberianLawyer uses Google DoubleClick to measure the effectiveness of its online marketing campaigns.Opt-out of DoubleClick cookies
Google Analytics From time to time some IberianLawyer online services, including mobile apps, use Google Analytics. This is a web analytics service provided by Google, Inc. Google Analytics sets a cookie in order to evaluate use of those services and compile a report for us.Opt-out of Google Analytics cookies