Madrid-based GED Capital (GED) has agreed to acquire the infrastructure fund management business of Ahorro Corporación (AC), an investment company headquartered in Barcelona.
The deal will see the buyout firm buy five investment vehicles with assets under management of about €370 million. Three of the funds are backed by the European Investment Bank, GED said in a statement.
The firm will double its assets under management through the acquisition, which also marks its entry into infrastructure investment.
The unit will be headed by Victoriano López-Pinto, until now chief executive of AC. His role at the Spanish company will be taken over by Enrique Sánchez del Villar, currently AC’s general manager and executive president.
“This new business area has a strong future ahead both at national and European levels,” said Felix Guerrero, GED Capital’s executive vice president. “It will enable us to expand the infrastructure investment into new markets where we are already present, such as Eastern Europe, and where we identify enormous potential.”
Founded in 1996, GED focuses on southwest and southeast Europe. It manages about €350 million of assets through four different equity funds. Its staff comprises 30 people located in Spain, Portugal, Romania and Bulgaria.
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