BBVA Asset Management expands its alternative investment offering with the launch of a new fund, BBVA Open to Partners Group Mercados Privados IX, FIL. This vehicle stands out, among other things, for being the first open-ended, multi-strategy private markets fund in Spain. It provides BBVA Private Banking clients with continuous and exclusive access to a global and diversified portfolio of funds managed by Partners Group, a global investment manager specializing in private markets, with more than 20 years of experience in managing these types of structures, also known as “evergreen” funds.
The vehicle, structured as a Free Investment Fund (FIL), will allow monthly subscriptions and semi-annual redemptions, thus providing a level of structured liquidity rarely found in private market products. Moreover, this setup will enable BBVA to maintain a permanently available investment solution for clients wishing to incorporate or increase their exposure to private markets within their portfolios. As an FIL structure, Spanish resident individuals may benefit from the tax deferral regime applicable to fund-to-fund transfers under Spanish law.
In terms of asset exposure, BBVA Open to Partners Group Mercados Privados IX, FIL will give BBVA’s private clients access to Partners Group’s institutional investment platform, combining active management with broad sectoral and geographical diversification, and exposure to private equity, infrastructure, and private debt in the United States, Europe, and Asia-Pacific. It is important to note that investors gain indirect exposure through the evergreen fund to a pre-existing private markets portfolio, with continuous market exposure and no fixed maturity date, which enhances capital efficiency and consistency in return generation.
Despite the liquidity windows offered, the recommended investment horizon is at least five years, consistent with the fund’s long-term nature, the illiquidity of its underlying assets, and its value creation potential.
With this new launch, BBVA reinforces its commitment to offering clients access to private markets and the potential to increase the diversification and returns of their portfolios through an innovative structure. The strategic agreement with Partners Group—a prestigious global manager and pioneer in developing evergreen funds—consolidates BBVA Asset Management’s position as a leader in long-term alternative investment solutions and represents another step in the company’s growth strategy within the alternative assets space.
This is a marketing communication. The fund’s prospectus and Key Investor Information Document (KIID) are available in the CNMV register (no. 140) for consultation prior to any investment decision.
Management company: BBVA ASSET MANAGEMENT, S.A., SGIIC
Depositary and distributor: Banco Bilbao Vizcaya Argentaria, S.A.
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