Bestinver targets €30M for second private equity fund of funds with BlackRock
What's the deal? BestinverDealroom has a profile for this one. Try Dealroom →, the asset manager of Spain's AccionaDealroom has a profile for this one. Try Dealroom → group, has launched Bestinver Private Equity Selection FCR, its second private equity fund of funds. The vehicle targets €30 million and will channel capital into a selection of BlackRock-managed funds with access to global private markets.
The details: The fund has an estimated life of 10 years from its registration with the National Securities Market Commission (CNMV), with the option of up to three one-year extensions.
Where the money goes: The initial portfolio splits into 30% direct co-investment funds, 25% secondary funds, 25% growth strategies, 10% impact, and 10% primary. Those weights may shift with market opportunities.
Co-investments let participants enter the capital of private companies alongside other funds, while secondaries buy stakes in established funds. Growth targets companies in expansion, impact backs businesses tied to social and environmental goals, and primary invests in funds still raising capital.
Why now? The launch deepens a partnership Bestinver began with BlackRock in July 2023, aimed at bringing private equity solutions to investors in Spain, Portugal, and Andorra.
The signal: Fund-of-funds structures remain a common route for regional managers to open private markets to a wider investor base. By pairing its distribution reach with BlackRock's vehicles, Bestinver is betting demand for private equity access in Iberia will keep growing.
Read more: democrata.es
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