Madrid-based fund of funds manager Altamar Private Equity is reportedly planning to launch a new fund to invest in distressed real estate assets in Spain.
The news was reported by the Financial News, which cited people familiar with the matter.
The report said that this will be Altamar’s first direct investment vehicle.
Altamar currently has eight funds and assets under management of about €1.1bn.
Other Spain-focused funds currently in the market include Sherpa Capital Gestión’s €100m vehicle.
Last month it was reported that the firm was in the late stages of fundraising and planned to hold a final close in the first half of this year.
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