Spanish housing bets pay off for private equity firms

Canary_Islands_Spain_Houses_30March2017_Fotolia_230x150
By David Bell
30 Mar 2017

Two private equity firms that took a punt on the recovery of the Spanish housing market after the financial crisis closed successful trades in the mortgage-backed securities and IPO markets this week. The moves saw them capitalising on investor confidence in the improving macroeconomic picture and outlook for the residential housing market in the country. David Bell reports.

Neinor Homes, the Spanish home builder bought by Lone Star Funds in 2014, closed a €709m IPO on Tuesday in a deal that was four times subscribed. The shares started trading on Wednesday, finishing the day 3% up, before closing flat to the fixed offer IPO price of ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial