Meridia launches €500m fund for Spain and Portugal office & alternatives

Spanish alternative funds manager, Meridia Capital, has acquired two office buildings in Spain on behalf of a new fund which has a target investment capacity of more than €500 mln.

One of the buildings is located in the MadBit district of Madrid and comprises 10,000 m2. It is let to IT giant, IBM. The other purchase is a portfolio of four office assets in Barcelona and the Spanish capital, totalling more than 26,000 m2.

Financial details were not disclosed.

The new fund is named Meridia IV and recently launched with equity of €250 mln. It has a target of between 10-15 acquisitions across asset classes in the Iberian region, with a focus upon office, logistics and hotels.

So far, Meridia IV has drawn investment from global institutional investors, family offices and private investors, the company said.

Javier Faus, chairman of Meridia Capital – which has around €1 bn AUM -, said: 'The launch of Meridia IV confirms our position as one of the leading alternative investment managers in Spain. Meridia IV is the 5th vehicle launched throughout the firm’s history.

'We are very proud of our highly consistent and solid track record. Meridia IV’s strategy will continue to focus on investments with a strong local proprietary angle. We will continue to work towards delivering best in class returns for our investors through a niche and specialised approach.'

Cristina Badenes, a partner at Meridia, said: 'Meridia IV has followed a healthy fundraising pace. The Fund has seen a strong re-up rate from existing and long-lasting limited partners while welcoming new top tier investors who have closely followed Meridia’s differentiated proposition over the past years.

'Ahead of a final close, we keep an open dialogue with leading institutional firms from the Americas, Europe and Asia, leveraging on Meridia’s strong reputation as partner of choice for global investors looking to invest in the Spanish alternatives space.'


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