Preon Capital Partners, the Swiss family office of business angel Jari Ovaskainen, has agreed to buy a 34% interest in Spanish asset manager Augustus Capital.
The deal, whose financial terms were not disclosed, is pending regulatory approval.
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Headed by Juan Uguet, Augustus Capital manages the Lierde Sicav- an investment fund that was launched to oversee the Alierta family’s assets. The vehicle focuses on Europe, prioritising companies regardless of size or sector barriers offering ‘value on a sustainable basis’.
Since 1994, the strategy is said to have generated an average annual return of 15%.
The Alierta family includes César Alierta, who ran the Spanish telecommunications company Telefónica until 2016. Under his watch, Telefónica bought Iobox, a Finnish internet portal that was started by Ovaskainen.
Following the sale of Iobox, Ovaskainen has started and invests in several gaming and technology companies.
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By GlobalDataUguet said: “This partnership while ensuring continuity, strengthens considerably our position with the acquisition of new talents.
“It will also permit the expansion of our offer to new sectors and geographic areas, bringing a truly international dimension to Augustus.”
Augustus Capital has been working as an asset management firm under Spanish watchdog CNMV since 2018.
Preon Capital CEO Alberto de Min said: “We are thrilled to join forces with Augustus in the management of the Lierde Fund and in other future initiatives.
“Augustus is the ideal partner for Preon as we share the same investment philosophy while having complementary skills.”
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