“With this operation, Inveready enters the investment funds market with a recognised team in the sector, expanding its range of products. The operation aims to bring out important synergies between the different verticals,” the two firms point out in a press release in which they emphasise that the union of both fund managers means for the new consolidated group a volume of assets of more than €1,000 million.
The two entities share significant growth in recent years and a value investment philosophy, although in different segments. While Inveready focused on investing in high-growth startups, True Value specialises in the value style with an international focus and in the technology sector, to become the star firm in the Spanish asset management industry.
Garrigues’ team advising Inveready was led by partners Naiara Bueno and Luis de la Peña, along with senior associate Francesc Cholvi and associate José Trabada Sánchez de Toca.