News Release

The Carlyle Group Launches Operations in Spain Carlyle's Local Presence Now Covers Five Key European Countries

2001-06b

Barcelona, Madrid – Pedro de Esteban, The Carlyle Group's, newly appointed managing director for Buyouts in Spain, today officially launched the firm’s operations at two presentations to the Barcelona and Madrid business communities.


"In an increasingly open and competitive marketplace access to significant growth capital delivered through sophisticated financing techniques will determine which companies can transform themselves from being national players to being Global leaders in their sectors," he told a group of over 100 business leaders who had gathered together for the occasion.


Investment in Spanish companies by private equity funds rose sharply by 55.9% in 2000 to reach €1.17b. The amount of capital being raised for new funds tripled to reach €2.35b (*source Spanish private equity association, ASCRI). The increased demand for capital is being driven in part by changes in private equity legislation and the benefits of a single European currency.


In particular, Carlyle will be focusing its attention on leading Spanish family businesses. Family businesses represent a significant proportion of GDP in Spain but are reluctant to become listed companies in order to raise further capital for growth.


The needs of a family business are very specific,” explains de Esteban, "a strong partnership between investor and family members is key in ensuring that the objectives of both parties are met. Carlyle has demonstrated its ability to partner successfully with family members in a large number of deals that have been transacted in France, Germany and Italy to date. These include: Honsel the automotive component manufacturer, Riello the leader in boilers and burners for heating, and Figaro, the French newspaper."


Pedro de Esteban, 41 years old, joined Carlyle in April and has been recruiting a team of investment professionals to work alongside him in Barcelona and Madrid. Prior to joining the firm de Esteban worked as Managing Director for Inversiones Novae and Executive Director for Goldman Sachs among others. He began his career with the Boston Consulting Group.


The Carlyle Group is the world’s largest global private equity investment firm, managing more than $13 billion of equity capital. The firm operates 15 private equity funds in the United States, Europe, Asia and Japan. Since it was founded in 1987, the firm has invested $5.8 billion. In Europe, acquisitions made by Carlyle's €1 billion Buyout Fund include the following: Andritz (Austria), Groupe Genoyer (France), Honsel (Germany), Otor (France), Riello (Italy). In addition it has made significant investments in Beru (Germany), Lafarge Specialty Materials (France), Le Figaro (France), and Digiplex (Pan-European).


The €730m European Venture Capital Fund has made 16 investments to date in the following sectors: communications technology and services, software infrastructure, online services and online financial services.


Carlyle has offices in Barcelona, London, Madrid, Milan, Munich and Paris.