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DC Advisory acts as exclusive financial advisor to Portobello Capital on the formation of its continuation vehicle for BLUESEA Hotels

Background

  • Portobello Capital (Portobello) is an independent private equity manager in the middle market, with more than €2.7 billion of assets under management and a track record of more than 60 investments over the past 20 years
  • BLUESEA Hotels (BLUESEA) is a portfolio company of Portobello, specializing in value-for-money experiences in the hotel sector in Spain

Process

  • DC Advisory acted as exclusive financial advisor to Portobello on the formation of its continuation vehicle for BLUESEA
  • Portobello raised the capital to fund Portobello Hospitality Fund I, a continuation vehicle managed by Portobello, to purchase BLUESEA from Portobello Fund III, providing additional time and capital to continue executing the well-defined value creation plan for the business
  • DC Advisory’s Secondary Advisory and Spanish Real Estate teams advised on the structuring and strategy of the continuation vehicle, including the identification of investors, leveraging a deep Hospitality sector knowledge to help shape the equity story around the company
  • Partners Group acted as lead investor in the transaction, with participation of Neuberger Berman, Mercer, and Florestan

Outcome

  • The transaction closed on 24 October 2024
  • With strong support from Partners Group, Neuberger Berman, Mercer, and Florestan, this transaction will provide BLUESEA with additional resources and time to capitalize on future growth opportunities
  • This transaction demonstrates the international collaboration between DC Advisory’s Secondary Advisory and industry sector specialists to deliver a tailored continuation vehicle for its client

What to read next

Date
Sectors
  • Consumer, Leisure & Retail
Deal type
  • Secondary Advisory
Deal locations
United Kingdom
Spain
Deal team
Managing Director
Director
UN SDG Activity
  • GOAL 8: Decent Work and Economic Growth
Actions
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