Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Spain Private Equity Has 3.2 Billion Euros to Invest, ASCRI Says

Jan. 10 (Bloomberg) -- Spanish private-equity firms have about 3.2 billion euros ($4.1 billion) to invest in companies as the economic crisis creates options to buy assets at lower prices, according to a report by an industry lobby group today.

Buyout firms in Spain see 2012 as “key” for the industry after a challenging year in 2011, said Maite Ballester, chairman of the Spanish Association of Private Equity Entities, or ASCRI. Average prices for Spanish assets have fallen significantly, she added.

The volume of investment in 2011 dropped 7 percent to 3.25 billion euros from a year earlier, and half that amount consisted of deals by international investors, according to the report.

Spanish private-equity companies are finding it difficult to raise money to finance deals as “the image of Spain abroad is very negative right now,” Diana Capital Chief Executive Officer Francisco Gomez-Zubeldia told reporters in Madrid today. “We have delayed some meetings with investors in London to see whether the new government makes a difference or not.”

To contact the reporter on this story: Manuel Baigorri in Madrid at mbaigorri@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.