All material subject to strictly enforced copyright laws. © 2021 Insurance Insider is part of Euromoney Institutional Investor PLC.
Accessibility | Terms & Conditions | Privacy Policy | Modern Slavery Act | Cookies | Subscription Terms & Conditions

Mapfre launches PE vehicle with EUR250mn investment

Mapfre has committed EUR250mn ($279.3mn) to a new private equity fund in collaboration with investment firms Abante and Altamar Capital Partners.  

It is the first vehicle launched since Mapfre acquired a 10 percent stake in Abante in September. 

Mapfre Private Equity FCR will bring private capital investments made within the group, including existing ones, into an “evergreen”, or permanent, fund. It aims to build a balanced and diversified portfolio, weighted particularly towards the US and Europe, with a conservative investment strategy. 

The partners are also contemplating bringing on board institutional investors as co-investors in the fund. 

Mapfre chief investment officer José Luis Jiménez said: “These alternative investments allow us to diversify the balance sheet, in an environment of low interest rates, and also tend to be less correlated with the evolution of the markets.  

“In addition, the market moment is very attractive because great opportunities can be generated in the coming months.”  

The vehicle is registered with the CNMV financial market regulator. 

The fund will be managed by Abante and Altamar will serve as an investment adviser.  

The move comes after Mapfre’s board approved EUR500mn of alternative investments, in addition to EUR550mn previously approved.  

Mapfre’s total assets under management in 2019 grew by 8.8 percent from 2018 to EUR63.6bn. 

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree