Cuatrecasas advises Ace Capital Partners on the launch of a Spain-focused aerospace and defense private equity fund

July 1, 2021

A Cuatrecasas team formed by lawyers Jorge Canta, Paz Irazusta, Ana Serrano, and Edvinas Kiskis has advised Ace Capital Partners, a private equity firm specialized in strategic industries and technologies and a subsidiary of Tikehau Capital, on the launch of a Spain-focused aerospace and defense private equity fund with SEPI, Airbus, Indra and Tikehau Capital as investors and strategic partners.

The initiative is sponsored by SEPI, the investment arm of the Spanish government, Airbus, the leading global player in aerospace and defense and Indra, key technological partner in defense. Ace Capital Partners will act as manager of the fund, which will invest in both Support Capital (niche players with the ability to grow organically) and Platform Capital (consolidation platforms to become leaders in their markets through external growth) strategies. This new private equity fund will invest in lower and upper midmarket companies active in the Spanish aerospace and defense sector.

A first closing for €100 million of initial commitments will take place in June 2021. Tikehau Capital and SEPI have both invested €33.3 million along with the two other Strategic Partners, Airbus and Indra, which have invested €28.3 million and €5.0 million respectively. The target size is €150-200 million.

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