Founding father of Spanish private equity industry dies from coronavirus

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One of the founding fathers of the Spanish private equity industry has died after contracting the coronavirus.

José María Loizaga Viguri pioneered private equity in the country through founding Mercapital in 1985.

The 84-year-old’s death on Sunday was confirmed by Spanish civil engineering and construction company ACS, for which Loizaga was a vice president and board member.

A statement from the company said, “ACS mourns the loss of one of our great executives who dedicated a very important part of his life to the projection and expansion of the group as a world leader in infrastructure.

“For this reason, we express our deepest condolences and all our love and affection to his wife, children and the rest of his family and friends.”

Loizaga, who was born in Bilbao in 1936, started his career with various managerial positions at Banco Vizcaya.

He was head of Mercapital from 1985 to 2009, and also held positions including chairman of Bodegas Lan and Bodegas Barón de Ley, board member of Banque Privée Edmond de Rothschild, Suez International, Otis International and Amorim Investment.

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