Acurio Ventures has launched its second fund of funds, Acurio Opportunity FDF II, FCR, with a target size of between €100 million and €200 million. The new vehicle, already registered with the Spanish Securities and Exchange Commission (CNMV), is designed to offer investors diversified exposure to established and emerging managers in the European private equity ecosystem.
The fund, structured as a closed-end fund, will be managed by Acurio Ventures Partners, SGEIC, S.A., based in Bilbao and under CNMV supervision. The depositary will be BNP Paribas SA, Sucursal en España, and Deloitte will act as auditor.
Investment strategy and differentiation
Acurio Opportunity FDF II will allocate approximately 80% of its capital to secondary and direct investments, while the remaining 20% will be focused on primary investments. The geographic focus of the fund will be on Europe, although up to 20% of the capital may be invested in other jurisdictions.
In line with its first vehicle, Acurio will combine investment in established funds with transactions in high potential emerging managers, thus allowing access to diversified opportunities with attractive risk-adjusted returns.
Investor profile and structure
The fund is primarily aimed at institutional investors and private wealth investors with a minimum investment commitment of EUR 500,000, although the fund manager may accept smaller amounts on a discretionary basis.
The Fund is structured by class (A, B, C and D), with differentiated fees and a performance distribution model that includes both regular distributions and temporary recyclable distributions. The Management Company and its team are committed to invest at least EUR 10 million in a manner aligned with the unitholders.
Governance and oversight
The fund will have a Supervisory Committee and an Investment Committee to ensure independence and good governance in decision-making. In addition, concentration limits and prudent leverage (maximum 30% of commitments) are established, with an investment policy subject to European sustainability standards, in accordance with the SFDR.
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