Jun 10, 2016
L Capital investment fund is leaving Spanish market
Jun 10, 2016
L Capital, an investment fund owned by Louis Vuitton Moet Hennessy (LVMH), is leaving the Spanish market.
The firm announced that it will close its office in Madrid, according to El Confidencial. CEO of L Capital in Madrid, Julio Babecki will facilitate the transition of moving business to New York.
Spanish brand El Ganso was the last L Capital investment in Spain.
L Capital specializes in investments in the retail sector and fashion. The fund's Spanish portfolio holdings have included Pepe Jeans, Imaginarium, Textile Lonia and most recently, El Ganso.
El Ganso is the only Spanish fashion holding the fund maintains.
L Capital began its Spanish presence in 2007. Throughout its lifespan in the country, the fund made various attempts to position itself strategically in the retail and fashion sectors.
Activities included bidding for a stake in Tous, and the chain Blanco. These bids were operations that L Capital never completed while doing business in Spain.
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