N+1, Mercapital Merger Creates Spain’s Biggest PE Firm

Law360, New York (July 10, 2012, 1:27 PM EDT) -- The private equity arm of Spanish investment bank N+1 and local buyout firm Mercapital will merge, the companies said Tuesday, in a move that will create a €1.7 billion ($2.1 billion) private equity portfolio, the largest in Spain.

The firms said they will begin raising a joint fund in 2013, when the transaction is expected to close, and will continue to operate separately until then. The combined group, to be called N+1 Mercapital, will manage investments for 26 clients, and will have annual revenue of about...
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