Permira invests in AltamarCAM Partners

AltamarCAM Partners S.L., a leading Private Markets Solutions provider, today announced that Permira Growth Opportunities II, a fund advised by Permira and specialised in acquiring minority positions in companies with high growth potential, will acquire a 40% stake in the company from a mix of external financial partners and existing managing partners.

With almost two decades of expertise and a strong foothold in Spain, Germany and Latin America, AltamarCAM crafts and provides tailored strategies in private markets. With over 500 institutional and 13,000 retail clients, AltamarCAM provides access to top global GPs, building long-term relationships with clients founded on trust.

Permira is a global investment firm that backs leading businesses with growth ambitions. It has a significant international presence and is focused on supporting companies with its deep sector expertise, technology and digital know-how, as well as experience in international expansion and M&A. With Permira’s nearly 40-year history in private markets and experience in investing in over 300 portfolio companies in Europe, North America, and Asia, this transaction will allow AltamarCAM to further develop and improve its services for clients and expand its international presence.

Claudio Aguirre, Chairman of AltamarCAM Partners, said: “It is very rewarding for us that a prestigious fund like Permira has decided to invest in AltamarCAM Partners. This will allow us to boost our organic and inorganic growth. Our plan is to continue the internationalization of our business with the aim of widening our future strategic options, which include a potential IPO.”

Pedro López, Head of Spain at Permira, said: “At Permira, we identify and help scale market leaders with ambitious growth plans where we think we can add significant value as growth investors – AltamarCAM fits that perfectly. Claudio, José Luis and the rest of the team have built a phenomenal business focused on client success, strong risk-adjusted returns and innovation above all else. We have closely followed them grow the platform and it is clear that our expertise is a great fit with what comes next - we now look forward to partnering with the team to develop and further internationalise the business.”

In the last ten years, private market assets quadrupled to represent 17% of the asset management industry^1[1]. As the market continues to grow but also consolidate, this transaction allows AltamarCAM to maintain complete independence with no change to the day-to-day operations, coupled with the establishment of strong information barriers. Remaining independent is an approach that has not only resulted in good results for clients to date, but also allowed the company to develop deep and trusted relationships with clients and the managers it invests with. The company will continue to serve clients with the utmost dedication and local touch.

José Luis Molina, Global CEO of AltamarCAM Partners, said: “The private markets sector is consolidating, and it is vital for a firm like ours to have a financial backer that allows us to further invest in technology and to take advantage of growth opportunities in the market, both geographically and in terms of products. Our objective is to continue to earn the trust of our stakeholders daily by offering them attractive solutions and products in the private asset market, and in this regard, we are convinced that Permira Growth Opportunities II’s investment will allow us to continue to gain scale and relevance internationally.”

The transaction is expected to close at the end of 2023.

About AltamarCAM Partners

AltamarCAM Partners is a private asset manager and solutions provider offering institutional investors -insurance companies, pension funds and financial entities – together with high net worth individuals, access to global private asset investments: private equity, venture capital, life sciences, real assets (real estate and infrastructures) and private debt / credit, through its selection of international managers, and different strategies (primaries, secondaries, co-investments and direct investment).

Additionally, AltamarCAM provides independent investment banking and merchant banking services through its subsidiary Altamar Advisory Partners, as well as direct and efficient access to funds from a selection of international fund managers through its subsidiary Altamar Global Investments AV. With offices in Madrid, Cologne, Barcelona, New York, London, Santiago de Chile and Munich, it has a team of more than 250 people. AltamarCAM Partners has more than €18 billion in investment commitments from investors.

About Permira

Permira is a global investment firm that backs successful businesses with growth ambitions. Founded in 1985, the firm advises funds with total committed capital of approximately €77bn and makes long-term majority and minority investments across two core asset classes, private equity and credit.

Permira is one of the world’s most active investors in the Services sector, having deployed over €11.5 billion to partner with more than 40 companies globally, including Alter Domus, Evelyn Partners, Kroll, Clearwater Analytics and Tricor. Permira has been present in Spain since 2004, and current investments include eDreams Odigeo, Neuraxpharm and Universidad Europea.

Permira will invest in AltamarCAM via its second Growth Opportunities Fund, which closed in December 2021 at $4 billion.

The Permira private equity funds have made approximately 300 private equity investments in four key sectors: Technology, Consumer, Healthcare and Services. Permira employs over 470 people in 15 offices across Europe, the United States and Asia. For more information, visit www.permira.com or follow us on LinkedIn or Twitter.

[1]Boston Consulting Group – [https://www.bcg.com/publications]