The vehicle is seeking between €300m and €350m, said Dow Jones, citing two people familiar with the matter.
Abac was launched earlier this year by former Apax executives Oriel Pinya, Borja Martinez de la Rosa and Javier Rigau. The firm’s partners including Saul Ruiz de Marcos are committing their own money alongside LPs, according to the report.
Abac will invest €20m to €50m in Spanish companies with positive cashflows. It will target the consumer, services, energy, industrials and telecommunications, media and technology sectors.
Other Spanish funds currently in the market include Diana Capital’s second vehicle, which is expected to hold a final close on just over €100m.
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