SPAIN- US private equity firm, Advent International, is opening an advisory office in Madrid. Jaime Carvajal Urquijo, Juan Díaz-Laviada and Luis Camilleri will be heading up the operation.
Carvajal has been appointed as chairman of the new office. Laviada and Camilleri will become partners of Advent International, with Laviada taking the role of managing partner in Spain.
Carvajal and his team will concentrate on later stage, majority position investments and buyouts, but will also look at certain minority position expansion capital deals, in which the objectives of all shareholders are aligned.
Prior to joining Advent, the three founded Spanish venture capital company, Iberfomento, before entering into a joint venture with Dresdner Kleinwort Capital, establishing its Iberian private equity operation. It was whilst at Dresdner, that Carvajal and his team developed a relationship with Advent, coinvesting , in Advent’s major Spanish investments.
“The Spanish market offers a wide range of opportunities for private equity investment”, says Advent. Its strategy in Spain will be to marry the firm’s global network and industry skills and contacts with the skills and market knowledge of the team.