Simmons & Simmons and Garrigues advised on the acquisition of Gesnorte

Dunas Capital, the independent real estate and alternative asset management platform, has announced the signing of an agreement to acquire 100% of Gesnorte.

Gesnorte currently manages around 300 million euros in several funds whose portfolios combine fixed income and equity assets. Gesnorte’s main shareholders and clients are insurance companies with a long tradition and a prestigious reputation in the insurance sector, such as Helvetia Seguros, Reale Seguros, MGS Seguros, Nacional de Reaseguros, ERGO Seguros and Ges Seguros.

For its part, Grupo Dunas Capital was created in 2016, after the purchase of Inverseguros, after the founding partners detected that there was a demand to be covered in the market for investment products focused on the insurance sector.

Advisors

The buyer, Grupo Dunas Capital, has been advised by Simmons & Simmons, with a team formed by partner Francisco de León and associate Paloma Sánchez-Fayos.

The seller, Gesnorte, has been advised by Garrigues, with a team comprising partner María Fernánez-Picazo, principal associate Juan González Ortega and associate Sofía Rubiales.