MERIDIA CAPITAL PARTNERS Corporate Overview
November 2016
Table of contents
I.
II.
III.
FIRM OVERVIEW
MERIDIA CAPITAL TODAY
TRACK RECORD
I.
Firm overview
A LEADING ALTERNATIVE INVESTMENT FUND MANAGER IN SPAIN
“At Meridia Capital Partners time has seen us evolve, opening up new boundaries for us. Throughout the last 10 years we have been successful at identifying good investment opportunities while building a reputable, trustworthy, agile and driven platform that has enabled us to deliver above-average returns for our investors.” Javier Faus - Founding Partner & CEO
Who we are
Solid track-record
International / Experienced and Institutional investor multidisciplinary base team
Multi-sector and multi-fund investment firm
Above average GP commitment
Regulated by CNMV (Spanish Securities Market Commission)
Socially responsible
Over 10 consecutive years successfully Globaland investment investing divesting experience in bull and bear markets globally
Experienced and multidisciplinary team
Our history
2007
2001
• Acquisition Hotel Arts
2006
2015
• Launch Meridia I
• Exit Hotel Arts • Meridia Capital founded
• CNMV Regulation
2014
• Launch Meridia II • Exit Meridia I - Top 10% performer globally (Preqin)
2016
• Launch Meridia Pr. Eq I • Launch Meridia III
Our team / talent Plus: 1 Financial Accounting (Fund Admin.) 1 Office Manager (Fund Admin.) 1 Executive Assistant (Fund Admin.) 1 Assistant (Fund Admin.)
Meridia Capital Partners
Javier Faus
Cristina Badenes
Beto Cordoncillo
Rosa Casas
Carlos Giménez
Founding Partner & CEO
Partner, CFO & Fund Admin.
Senior Fin. Acc. Fund Admin.
Laura Salazar
Partner IR & Corp. Dev.
Fin. Acc. Fund Admin. & RE
Mktg Manager
Real Estate
Real Estate Juan Barba
Víctor Iborra
Adrian Clarke
Alberto González
Marta de Azlor
Luis Jaime de Antonio
Rita Torres
Partner, MD
Inv. Director
Director, Project Mngmt
Director, Asset Mngmt
Inv. Associate
Associate, Asset Mngmt
Associate, Asset Mngmt
Private Equity
New Hires
David Torralba
Guillermo Galmés
Rodrigo Hervás
Partner, MD
Inv. Director
Associate, Transactions & Reporting
Our team: extensive experience
PRIVATE EQUITY
REAL ESTATE
MERIDIA CAPITAL PARTNERS
Name Javier Javier FausFaus Cristina Badenes Cristina Badenes Beto Cordoncillo
Position Founding Partner Founding Partner & CEO Partner Partner Partner Inst. Rel & Corp. Dvlpt
Location
Year joined
Years experience
Previous employers
Barcelona
2006
29
Patron Capital Partners, HOVISA, J&A Garrigues, Cuatrecasas
Barcelona
2006
21
UBS Investment Bank, Dresdner Kleinwort, Salomon Brothers, JP Morgan
BetoCasas Cordoncillo Rosa
Senior– Financial Accounting Partner CFO, Fund Admin.
Barcelona
2006
36
HOVISA, Data-Comp
Carlos Giménez Rosa Casas Laura Salazar
Financial Accounting Senior Financial Accounting Marketing Manager
Barcelona
2006
21
HOVISA, Hotusa, Hotel Connect, Data-Comp
Carlos Giménez
Financial Accounting
Barcelona
2016
5
Alter Domus Alternative Asset, PwC
Laura Salazar
Marketing Manager
Barcelona
2015
6
Dow Jones, Metropolis
Juan Barba
Partner, Managing Director
Madrid
2014
21
SAREB, Doughty Hanson, Aareal Bank, Principal Financial Group, Arthur Andersen
Adrian Clarke
Director, Project Management
Barcelona
2006
27
HOVISA, Shimizu Construction, Bovis Intl
Víctor Iborra
Investment Director
Barcelona
2007
11
Zurich Insurance, Amazon, JP Morgan, Grupo Abrisa, Unilever
Alberto González
Director, Asset Management
Madrid
2015
15
Falcon II, British Land, Unibail Rodamco
Marta de Azlor
Investment Associate
Barcelona
2014
7
Bank of America Merrill Lynch
Luis Jaime de Antonio
Associate, Asset Management
Barcelona
2015
10
Drago Capital, CBRE
Rita Torres
Associate, Asset Management
Madrid
2016
12
CBRE, Blanco, Tous, Jesús del Pozo, Roberto Verino
David Torralba
Partner, Managing Director
Barcelona
2015
14
Doughty Hanson, JP Morgan
Guillermo Galmés
Investment Director
Madrid / Barcelona
2016
11
Magnum Capital, ENA Capital, Mercapital, Morgan Stanley
Rodrigo Hervás
Associate, Transactions & Reporting
Barcelona
2016
5
PwC, Europraxis
II.
Meridia Capital today
Our businesses
Barcelona based firm established in 2006
An independent investment company
€550M AUM (equity; hard cap)
REAL ESTATE
PRIVATE EQUITY
€400M (hard cap) Meridia II €150M
€150M (hard cap)
MeridiaIIIIII Meridia €250M (target) €250 M
Meridia Private Equity I
FUNDRAISING
€125M (target)
Meridia II (Value Add, Real Estate, Spain, €150M, 2014 vintage)
Strategy • A fund focused on the Spanish real estate sector
• Acquisition, refurbishment and/or reconversion
• Primary focus on Madrid / Barcelona
• All segments: Office, Retail, Hotel, Logistics, Residential, etc.
Investments– Almost fully deployed Investments BARCELONA
MADRID
VALENCIA
Henkel’s former HQ
Albufera Plaza
Consum
MADRID
Miramadrid
MADRID
Aecus
BARCELONA
Nestlé’s Spanish HQ
BARCELONA & MADRID
MADRID
Horizon I & II
Avalon
VALENCIA
Ribarroja
EXIT: HORIZON II
Meridia III (Value Add, Real Estate, Spain, €250M, 2016 vintage)
Strategy • A fund focused on the Spanish real estate sector
• Acquisition, refurbishment and/or reconversion
• Primary focus on Madrid / Barcelona
• All segments: Office, Retail, Hotel, Logistics, Residential, etc.
• SOCIMI structure
• Investor base 100% institutional
Investments Investments Madrid / Barcelona: INSURANCE PROJECT April 2016 Offices
Barcelona/ Pamplona: ALTA PROJECT September 2016 Offices
Barcelona: VILA PROJECT October 2016 Office and retail
Meridia Private Equity I (Private Equity, Spain, €125M, 2016 vintage)
Strategy
Target Investments
• 5-7 companies
• Industrial focus
• International expansion
• Limited leverage
• Majorities and minorities
• Propietary deals
• Multi-sector approach
• Outstanding
• Proven business model
Investments Investments
SOSA INGREDIENTS SL
www.sosa.cat
•
Leading producer and distributor of technical food ingredients for the gastronomy segment.
•
Alongside Quico Sosa, Sosa’s CEO, Meridia Capital aims to accelerate the firm’s growth, both locally and globally.
City: Moià (Barcelona) Entry: September 2016 Sector: Gastronomy Employees: 150
management team
Socially responsible
Committed to responsible investment
Currently affiliated to
III.
Track record
Meridia I (Hospitality, Global, €150M, 2007 vintage)
2007
06/07: Acquisition Crowne Plaza, Santiago
2008
02/08: Acquisition W + Apple, Paris
2009
09/09: Acquisition InterContinental, Sao Paulo
08/07: Acquisition Ritz-Carlton, 06/08: Santiago Acquisition Six Senses, Thailand Source: Meridia Capital
2010
2011
12/10: Sale Six Senses, Thailand
11/09: Acquisition Four Seasons, 06/10: Mexico Opening Apple Store, Paris
2012
06/12: Sale Apple Store, Paris
02/12: Opening W, Paris
2013
2014
05/13: Sale Four Seasons, Mexico Q3/13: Sale RC and CP Chile
12/14 Sale W, Paris
Q1/14: Sale InterContinen tal, Sao Paulo
According to Preqin, a top 10% performer amongst global real estate funds with 2007 vintage; fourth best performer in Europe
Hotel Arts, a success story
2001
•
•
•
Javier Faus, Deutsche Bank and Patron Capital acquired HOVISA, a Barcelona-based 110,000 sqm real estate portfolio by the seaside: Portfolio breakdown: o Hotel Arts (a RitzCarlton hotel with 485 keys and apartments) o Blue Building (12,374 sqm of office space) o Retail area (13,084 sqm) o Plot of land (3,611 sqm) o Parking (600 slots) Acquisition price €235M
2002
•
2004
…
Blue Building sold to Meag Munich Ergo
•
•
Patron Capital and Deutsche Bank sold their stakes to Spanish HNWIs Faus keeps his 5% stake as equity partner and becomes the only general partner
2006
…
•
•
Hotel Arts and Javier Faus, a Harvard Business School case study
HOVISA sells Hotel Arts and retail area to a JV formed by Host Hotels & Resorts (NYSE: HST, a company that belongs to S&P 500 and Fortune 500), GIC Real Estate (Government of Singapore) and Stichting Pensioenfonds ABP Selling price €417M – at the time, the highest price ever paid for a single real estate asset in Spain
MCP
