Spanish turnaround investor Sherpa Capital Gestión is reportedly attempting to raise €100m to take advantage of rising confidence in the recently maligned Iberian region.
The firm is in the late stages of fundraising and plans to hold a final close in the first half of this year according to Financial News, which cited people familiar with the matter.
Sherpa plans to target mid-market companies with turnover of between $10m and $200m, and has previously backed businesses including packaging company Polibol, retailer KA International and graphic arts business Dedalo.
International investor interest in Southern Europe is making a surprise return according to a recent survey by Altius Associates.
The firm’s Key Challenges facing the Private Equity Sector in 2014 report said a number of groups were raising new funds for the sector this year, but cautioned over the current buoyancy leading to “overexuberance”.
Altius said the past 12 months had seen stability return to the euro and wider European market as fears abate in favour of enthusiasm.
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