Spanish investment firm Cobas Asset Management -led by renowned fund manager Francisco García Paramés – has acquired a minority stake in the Spanish asset manager Equam Capital.
The purchase, still waiting the approval of the Spanish National Securities Market Commission (CNMV), will be carried out through a capital increase through Santa Comba Gestión – the parent company of Cobas Asset Management.
The initiative, which was announced by Paramés at the Annual Investor Conference of Cobas AM in June 2017, aims at promoting those less-known Spanish ‘value’ managers, therefore widening and improving alternatives for investors when they look for diversification.
Cobas AM’s founder Francisco García Paramés said: ” I am very satisfied to have signed this agreement with Equam Capital that is aimed at contributing with its growth and expansion.”
Co-owned by Alejandro Muñoz and José Antonio Larraz, Equam Capital manages the Incometric Equam Global Value Ucits Fund, which was launched in 2015 and has now some €50m in AUM.
With regards to Cobas AM’s plans of continue supporting Spanish value managers, the company underlined that not all those agreements would necessarily be of shareholding type. “We will also offer managers the possibility of promoting themselves through the participation in conferences and events organised by Value School.”