Altamar celebrates its Annual Investors’ Meeting and the 3rd Conference on Global Alternative Investments
Some of the most prominent names in the sector and nearly 400 investors participated in the conference, along with Altamar’s entire management team as well as members of its international advisory board.
The Annual Investors’ Meeting and the 3rd Conference on Global Alternative Investments started with the review the company’s highlights during 2017 by Claudio Aguirre, Chairman and Founding Partner of Altamar Capital Partners. The event was held on June the 5th in Madrid and it was attended by nearly 400 investors and professionals from the sector who listened, in addition to the speech of Altamar partners, those of James Seppala, Head of Blackstone Real Estate Europe, Leenong Li, Partner of Joy Capital and Henry Kravis, Founding Partner of KKR.
Claudio Aguirre could not fail in his remarks expressing his appreciation for the trust placed by investors in Altamar and he also took the opportunity to summarize the evolution of the firm in five aspects that described Altamar as a growing company, increasingly diversified in both asset classes and investors, international, with the offices of Chile and New York increasingly consolidated, very aware of the technological revolution, scrupulous in regulatory compliance, concerned with developing a CSR culture adhering to the PRI and with an extraordinary human team that has turned the firm into a benchmark for the industry. All this without losing the DNA of Altamar as a firm focused on providing solutions for alternative investments, which promote the creation of value for its investors.
The Chairman also noted that Altamar experienced in 2017 a 40% growth in historically committed capital. He also stated that “during the first months of 2018 we obtained another €500 million in new investment commitments, which has allowed us to reach €5.5bn in historically committed and distributed capital. Additionally, with the new investment programs on the course, this figure could be close to €6bn at the end of the year “.
After the Chairman’s speech, it was the moment for the “real assets”, which begun with the market vision of an actor as important as Blackstone. James Seppala, Head of Blackstone Real Estate Europe. After this interesting speech, Fernando Olaso, Partner of Altamar Real Estate, pointed out how the structural changes that are taking place in our way of life influence the real estate market. The technological revolution and sociodemographic changes are macro trends that affect all sectors of this market. Olaso reviewed, one by one, all of them giving examples of Altamar Real Estate team’s ability to adapt and find opportunities in all of them: residential, offices, hotels, retail or logistics assets. In addition, Olaso analyzed the evolution of real estate funds, highlighting Altan IV, which has experienced significant progress in the fundraising and portfolio construction during these months.
Ignacio Antoñanzas, partner of Altamar Infraestructuras, analyzed in his presentation that the need for investment in the infrastructure sector is still high and it is marked by a series of trends such as globalization, urban growth, the increase in life expectancy, the needs of education and social infrastructure, as well as the energy transition and digital expansion. All these trends turn into investments in the area of transport and logistics, social infrastructure, energy and telecommunications. Antoñanzas also stated that“with institutional investors increasing their exposure to the sector, attracted by their essential nature, high entry barriers and their economic attractiveness, the role of infrastructure funds is key in channeling investments”.
To introduce us to the venture capital world, Leenong Li, a Partner of Joy Capital, prepared a conference titled “A new Silicon Valley is born. China and the fast digitalization of 1bn+ people” in which he described the digital business landscape in China, the second largest digital economy in the world. Just after, Marcel Rafart, Partner of Galdana Ventures, reviewed the evolution of Galdana Ventures I FCR that has built in these first three years an excellent portfolio with first quartile funds including funds from the United States, Europe, Israel and Asia. After the good evolution of the first fund, Rafart explained that Galdana is now immersed in the launch of its new investment program, Galdana II which will have the same investment strategy as Galdana I. On the other hand, in his speech he pointed out as main trends in the venture capital sector, the control of technology in all the world rankings, its capacity to continue creating value, the discipline in prices and value of technological assets and the powerful appearance on the scene of China in the sector.
Before lunch Guy Nohra and Montserrat Vendrell, partners of Alta Life Sciences, changed the subject to another sector of great boom such as the life sciences and biotechnology. They also reviewed both the three investments that Alta Life Sciences Spain I has already made as well as the current situation of the sector, which is constantly evolving with the development of new technologies that are redefining the industry with research as a fundamental pillar. In addition to technology as a driver of change, there are other vectors that influence the life sciences industry, such as demographic changes, and data as a constant source of information (Big Data).
In the afternoon José Luis Molina co-CIO and Founding Partner, Inés Andrade, Vice Chairman and partner and Miguel Zurita, co-CIO and Partner of Altamar Capital Partners, highlighted the evolution of Altamar’s private equity funds, both primary and secondary, which keep obtaining excellent results in terms of profitability. The closing of Altamar latest fund, Altamar Global Secondaries IX with 541 million euros and the launch of the fund Altamar X -which has already completed its first close and made its first investment commitments- is noteworthy. The speakers also stressed that the private equity sector continues to be attractive in the current environment although it is very important an adequate selection of the asset manager and the ability to access the best in the industry.
Next, Claudio Aguirre presented the last guest speaker, Henry Kravis, and highlighted his great experience in the private equity sector, thanking him for attending Altamar’s investor meeting for a second time. José Luis Molina and Miguel Zurita interviewed Kravis to try to find out his opinion on why the market for private assets is so attractive.
To close the conference, José María Fernández and Rodrigo Echenique, Partners of Altamar Private Debt informed investors of the evolution of their first fund, Altamar Private Debt I, launched in July 2017 and with 230 million euros of capital. They also offered some remarks on the global private debt market, as well as some ideas on how to invest using credit strategies regardless of the cycle. Undoubtedly, it is noteworthy that the debt market presents an extraordinary growth and in the last decade, from 2007 until now, it has grown by more than 50 trillion euros, which means that the world is more indebted than it has been never been in terms of global GDP, with a ratio of 225%.