About This Fund
Portobello Capital Fund III is a private equity buyout fund managed by Portobello Capital, a leading independent mid-market private equity firm headquartered in Madrid, Spain. Established as the third flagship fund in Portobello's fund family, it reflects the firm's more than two decades of experience investing in Spanish and Iberian businesses and building upon the track record built across its two predecessor funds.
The fund targets control and co-control investments in dynamic, growing mid-market companies based primarily in Spain and Southern Europe. Portobello Capital focuses on sectors including healthcare services, food and consumer brands, technology and mobility, industrials, and business services. The firm actively collaborates with management teams to accelerate value creation through operational improvements, bolt-on acquisitions, and international expansion. Portobello's hands-on approach is supported by a team of experienced investment professionals led by partners Íñigo Sánchez-Asiaín, Juan Luis Ramírez, Ramón Cerdeiras, Luis Peñarrocha, and Carlos Dolz, with offices in Madrid and Luxembourg.
Portobello Capital Fund III closed in August 2014 at €375 million, surpassing its initial €300 million target after approximately nine months of fundraising — making it the largest private equity fund raised in Spain since the financial crisis. International institutional investors representing 86% of commitments, including German pension funds and French and Italian investors such as Axa and Generali, backed the fund alongside Spanish institutions. The Instituto de Crédito Oficial (ICO) contributed €60 million and the European Investment Fund (EIF) committed €40 million. Fund III was fully invested in nine portfolio companies spanning elderly care homes (Vitalia Home), canned food (IAN/Carretilla), mobility technology (EYSA), seafood (Iberconsa), wind bearings (Laulagun), spices (Ramón Sabater), digital signage (Trison), hotels (Blue Sea), and vehicle rental (Centauro).