Crescenta, Spain’s first digital asset manager for investing in private equity funds, has started marketing its new fund, Crescenta Multistrategy Private Equity Access I, FIL, which aims to provide diversified exposure to the private equity universe through a single investment across three different and complementary strategies: Growth, Real Assets and Buyouts.
The fund is structured through investments in Crescenta Private Equity Growth Top Performers III, FCR; Crescenta Private Equity Buyouts Top Performers II, FCR; and Crescenta Private Equity Real Assets Top Performers I, FCR. The positions in each of these vehicles provide diversified exposure to the private equity universe, accessing more than 15 underlying funds managed by internationally renowned firms.
The new vehicle, with a target size of between €10 million and €15 million, aims to achieve a net annual return of 15% and to double invested capital. The fund combines the growth potential of scalable technology companies, the operational strength of established companies that are leaders in their sectors, and the stability of real assets with recurring cash flows.
The legal structure of the vehicle as an Alternative Investment Fund (FIL) allows transfers between collective investment institutions (CIIs) with tax deferral. This means that amounts invested in another investment fund can be used to meet the capital calls of the FIL without triggering taxation at the time of transfer on any capital gains generated, both on entry and exit from the fund (provided the destination is another CII). According to the asset manager, the fund is aimed at investors seeking to diversify their portfolios by incorporating Private Equity, but who have previously faced barriers due to the tax impact of liquidating listed positions.
“At Crescenta, we want to offer a wide range of opportunities to our clients. We have worked to make the main private equity strategies available to investors and now we are making them accessible through a single investment. Our goal is to continue facilitating access to Private Equity. This product is a good option for investors who are limited by their wealth and can only make a single Private Equity investment. In addition, its legal structure as a FIL offers tax-efficient transferability, expanding opportunities for investors who wish to rebalance their portfolios,” explains Ramiro Iglesias, CEO and co-founder of Crescenta.
The fund has a duration of 10 years, extendable up to 14 years, and will be available to professional and retail investors with a minimum commitment of €10,000, to be drawn down gradually.
From a geographical perspective, Crescenta Multistrategy Private Equity Access I, FIL offers global exposure, with a majority weighting in the US and European markets, complemented by selective allocations in other developed regions. The fund also seeks sector diversification, combining technology, industry, infrastructure, energy and real estate assets. This exposure can be accessed from €10,000*, whereas previously a minimum of €30,000 would have been required.
* You may invest a minimum of €10,000 provided that this amount does not represent more than 10% of your total assets, and provided you invest under our financial advisory service if you are a retail investor.
About Crescenta
Crescenta is a Collective Investment Institution Management Company (SGIIC) supervised by the CNMV and registered in the CNMV registry of IIC management companies under official registration number 289. Founded by Eduardo Navarro and Ramiro Iglesias, the firm offers professional and retail investors digital access to leading national and international private equity growth, private equity buyouts, real assets and secondaries funds. It also provides extensive educational content on private equity investing through its “Aprende y Crece” platform, an advisory tool, and the ability to integrate bank accounts to enable a more agile and secure subscription process
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