P10, a private markets solutions provider, has completed its acquisition of Qualitas Equity Funds SGEIC, S.A., for an initial purchase price of $63 million, with the potential for additional earnout consideration.
Qualitas Funds is a Madrid-based private equity investing platform that provides fund-of-funds, direct co-investing, and NAV financing opportunities in the European lower-middle market to over 1,300 limited partners in the ultra-high-net-worth (UHNW), family office, and institutional channels.
The firm has about $1 billion in fee-paying assets under management (FPAUM) and a strong expected growth trajectory. And the firm was founded in 2015 by co-founders and co-managing partners, Eric Halverson and Sergio Garcia.
KEY QUOTES:
“Today, P10 significantly expands our global presence through closing the acquisition of Qualitas Funds. Eric, Sergio, and the entire Qualitas Funds team have established a strong track record of performance that is complementary to P10’s platform, and we are excited to build upon this foundation as we expand into Europe. I look forward to integrating our client-centric cultures, as we work together to unlock access-constrained investment opportunities in the middle and lower-middle markets for our global client base.”
- Luke Sarsfield, P10 Chairman and Chief Executive Officer
“After working alongside P10’s strategy leaders for over a decade, we are pleased to officially become a part of this best-in-class firm. We look forward to collaborating with the P10 team and positively contributing to the platform’s international expansion. P10’s deep private markets expertise will accelerate our progress as we seek to launch additional strategies and vehicles that can provide our clients attractive exposure to the global middle and lower-middle markets.”
- Halverson and García
