Portobello Capital (Portobello) is an independent private equity manager in the middle market, with more than €2.7 billion of assets under management and a track record of more than 60 investments over the past 20 years
BLUESEA Hotels (BLUESEA) is a portfolio company of Portobello, specializing in value-for-money experiences in the hotel sector in Spain
Process
DC Advisory acted as exclusive financial advisor to Portobello on the formation of its continuation vehicle for BLUESEA
Portobello raised the capital to fund Portobello Hospitality Fund I, a continuation vehicle managed by Portobello, to purchase BLUESEA from Portobello Fund III, providing additional time and capital to continue executing the well-defined value creation plan for the business
DC Advisory’s Secondary Advisory and Spanish Real Estate teams advised on the structuring and strategy of the continuation vehicle, including the identification of investors, leveraging a deep Hospitality sector knowledge to help shape the equity story around the company
Partners Group acted as lead investor in the transaction, with participation of Neuberger Berman, Mercer, and Florestan
Outcome
The transaction closed on 24 October 2024
With strong support from Partners Group, Neuberger Berman, Mercer, and Florestan, this transaction will provide BLUESEA with additional resources and time to capitalize on future growth opportunities
This transaction demonstrates the international collaboration between DC Advisory’s Secondary Advisory and industry sector specialists to deliver a tailored continuation vehicle for its client
