Cuatrecasas has advised Crescenta, a digital SGIIC specialized in private equity fund investments, on the creation of a joint venture with Mercer Global Investments Europe Limited for the launch of Crescenta Private Equity Secondaries I, FCR, its first secondary private equity fund.
The fund, which will invest in GP-led and LP-led transactions in the secondary market and focus on developed markets, aims to acquire high-quality, mature assets and positions at attractive prices, following a strong diversification approach and seeking a balanced risk-return profile.
The new vehicle, with a target size of €60 million, seeks a net annual return of 15% and plans to carry out between 15 and 40 transactions across different managers, periods, geographic regions, and sectors to build a diversified portfolio. More than 50% of the investments will be in GP-led transactions, where the manager retains assets for an additional period to capture their potential value.
The fund has an expected lifespan of eight years, with the possibility of extension to ensure effective management. It is available to both retail and professional investors, with a minimum commitment of €10,000, to be disbursed gradually.
The Cuatrecasas advisory team was composed of Jorge Canta and Francisco Sánchez Cuéllar from the Fund Formation group.
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