March Private Equity Launches new secondary fund and diversifies private equity offering

Cuatrecasas has advised March Private Equity SGEIC, Banca March’s private equity management company, on establishing March PE Secundarios I, FCR, an investment vehicle entering the secondary market to acquire interests from investors in primary funds or bulk portfolio sales. The fund aims to raise €50 million, possibly capped at €65 million.

This is the banking group’s first fund with a secondary focus, intended to build a diversified portfolio comprising between 15 and 20 middle-market companies. March will rely on a well-established international asset manager—a German firm specialized in alternative assets—which has been appointed as the fund’s delegated manager and will be responsible for analyzing investment options and opportunities.

The fund has an initial term of 7 years; however, with the extensions for the investment and divestment phases, its life could be extended to up to 11 years. The fund does not impose sector-specific investment restrictions and targets vehicles with a primary focus on Europe or North America.