Santander to Invest Up to EUR300 Million in Fund for SMEs
November 18 2020 - 07:38AM
Dow Jones News
By Cecilia Butini
Banco Santander SA said Wednesday that it is committing to
invest up to 300 million euros ($355.9 million) in a new fund
dedicated to small-medium enterprises which will be managed by its
asset-management subsidiary.
The Alternative Leasing hedge fund will focus on machinery and
equipment for SMEs, the Spanish bank said.
The aim of the fund--which has already been registered with the
Spanish securities market commission--is to reach EUR750 million
from different institutional investors, Santander said.
The investment can be for companies that are primarily based in
Spain, France, Portugal, and the Benelux region.
Santander added that the fund will make about 50 investments,
each averaging EUR10 million to EUR15 million and with a maximum
maturity of eight years.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
November 18, 2020 07:23 ET (12:23 GMT)
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