King & Wood Mallesons has advised ABAC Solutions Manager on the structuring and close of its first Fund, after receiving capital commitments of €320 million to invest in the Spanish mid-market. The aim in the next few months is to invest around €20 million to €50 million per deal in 8 to 12 companies.

Of the capital raised, approximately 80% was committed from foreign investors: 40% from Europe; 30% from the United States and 10% from Asia. National investors have provided the remaining 20%. Most of the commitments come from pension funds, endowments, financial institutions, fund of funds and family offices

Legal advice to ABAC was led by Madrid Funds partner Isabel Rodríguez, assisted by senior associate Ildefonso Alier.

Isabel Rodríguez says: “In spite of the the political instability in Spain, international investors are still confident about the Spanish private equity sector in general and in particular the mid-market funds. Without a doubt, ABAC is a good example of this”.