The advisory and Investment Committees of the Spain Oman Private Equity Fund began activities with meetings that took place in Muscat, Oman. Senior management of COFIDES and SGRF, as well as members of MCH, all took part in the meeting.
With the holding its first Investment Committee, the fund has effectively launched its operations and MCH is progressing in the development of its investment pipeline. MCH is a private equity firm selected by COFIDES and SGRF following an open tender that other management companies took part in so as to develop this fund independently.
Oman-Spain Investment Fund came in the wake of the MoUs signed in different fields during the royal visit of His Majesty King Juan Carlos of Spain to Oman in 2014.
SGRF and FIEX/COFIDES are the sole investors of the fund (along with the additional commitment of MCH). It involves a 50/50 joint investment by Oman and the Spanish public sector of 100 million euros each.
The fund will invest in Spanish mid-cap companies with international growth plans with the objective of benefiting the interests of both countries while initially focusing in Oman and Spain. The focus sectors of the fund are construction materials, manufacturing, mining, tourism, logistics, health, infrastructure, energy, food, and agribusiness.
The Fund will allow Oman to benefit from the experience and technological knowhow of Spanish companies through the creation of employment, technology transfer and investment profitability. It will also provide Spanish companies with a new financing instrument to encourage their expansion abroad, the consolidation and growth of the parent company and, at the same time, contribute to the development of Oman and Spain.
The State General Reserve Fund (SGRF) was established by Royal Decree 1/80 in 1980. On behalf of the Government of Oman, the SGRF manages the reserves under its responsibility to achieve the best possible long-term benefits with acceptable risks, by investing in a diversified portfolio of asset types in more than 40 countries around the world.
COFIDES is a combined private-public concern, which since 1988 has provided financial support to Spanish enterprises abroad. COFIDES manages the FIEX and FONPYME funds on behalf of the State Secretariat for Trade, within The Ministry of Industry, Trade and Tourism. The stockholders include the Bank of Bilbao Vizcaya Argentaria (BBVA), Santander Bank, Sabadell Bank and CAF (Development Bank of Latin America).
MCH is a private equity firm based in Madrid focused on middle market companies. Since its creation in 1998, it has advised 4 funds (MCH Iberian Capital Fund I, II, III and IV) with aggregate funds under management of 850 million euros. In addition, MCH manages the divestment of AC Capital Desarrollo II’s remaining portfolio and a growth Fund (Unigrains UAF) specialized in the food and agribusiness sector, in partnership with Unigrains.
MCH Iberian Capital Fund IV is the latest investment vehicle with total capital commitments of 350 million Euros and a targeted investment ticket between 20 and 80 million Euros. MCH investor base is comprised by an international base of recognized institutional investors, funds-of-funds and large family offices.
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