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MERIDIA CAPITAL PARTNERSCorporate Overview
March 2018
I.FIRM OVERVIEW
II.MERIDIA CAPITAL TODAY
III.TRACK RECORD
Table of contents
Firm overview
I.
“At Meridia Capital Partners time has seen us evolve, opening up new boundaries for us. Throughout the last 11 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
Firm of the Year:
Southern Europe
A LEADING ALTERNATIVE INVESTMENT FUND MANAGER IN SPAIN
Who we are
Solid track-recordExperienced and
multidisciplinary
team
Regulated by
CNMV (Spanish
Securities Market
Commission)
Multi-sector and
multi-fund
investment firm
Above average GP
commitment
Over 10 consecutive
years successfully
investing and divesting
in bull and bear markets
globally
Socially responsible
International /
Institutional investor
base
Global investment
experience
Experienced and
multidisciplinary
team
Our history
2001• Acquisition Hotel Arts
2014• Launch Meridia II
• Exit Meridia I - Top 10%
performer globally (Preqin)
2006• Exit Hotel Arts
• Meridia Capital founded
2007• Launch Meridia I
2015• CNMV Regulation
2016• Launch Meridia Pr. Eq I
• Launch Meridia III
Meridia Capital Partners
Real Estate
Our team / talent
Beto Cordoncillo
Partner, CFO
& Fund Admin.
Javier Faus
Founding Partner
& CEO
Cristina Badenes
Partner
IR & Corp. Dev.
Rosa Casas
Senior Fin. Acc.
Fund Admin.
Real Estate
Juan BarbaPartner, MD
Víctor Iborra
Inv. Director
Adrian Clarke
Director, Pr Mgmt
Marta de Azlor
Senior Associate
Private Equity
David TorralbaPartner, MD
Rodrigo Hervás
Associate
Laura Salazar
Mktg Manager
Carlos Giménez
Fin. Acc.
Fund Admin. & RE
Rita TorresAssociate
Alberto González
Director, Asset Mgmt
Plus:
2 Financial Accounting (Fund Admin.)
1 Assistant (Fund Admin.)
Luis Jaime de Antonio
Associate
Sandra López
Manager
Borja DaudíAssociate
ACQUISITIONS ASSET MANAGEMENT
Guillermo Galmés
Director
PROJECT MGMT
Jose María Mateu
Associate
Elisabet GómezHead Legal CounselChief Compliance Officer
Marina Breda
Manager
Our team: extensive experienceM
ER
IDIA
CA
PIT
AL
PA
RTN
ER
SR
EA
L ESTA
TE
Name Position Location Year joinedYears
experiencePrevious employers
Javier FausFounding Partner
& CEO Barcelona 2006 30 Patron Capital Partners, HOVISA, J&A Garrigues, Cuatrecasas
Cristina BadenesPartner -
Inv. Rel & Corp. DvlptBarcelona 2006 22
UBS Investment Bank, Dresdner Kleinwort, Salomon Brothers, JP Morgan
Beto Cordoncillo Partner – CFO, Fund Admin. Barcelona 2006 37 HOVISA, Data-Comp
Elisabet GómezHead Legal Counsel – Chief
Compliance OfficerBarcelona 2017 19 Mixta Africa, BBVA, Uría Menéndez
Rosa Casas Senior Financial Accounting Barcelona 2006 22 HOVISA, Hotusa, Hotel Connect, Data-Comp
Carlos Giménez Financial Accounting Barcelona 2016 6 Alter Domus Alternative Asset, PwC
Laura Salazar Marketing Manager Barcelona 2015 7 Dow Jones, Metropolis
Juan Barba Partner Madrid 2014 22SAREB, Doughty Hanson, Aareal Bank, Principal Financial Group,
Arthur Andersen
Adrian Clarke Director, Project Management Barcelona 2006 28 HOVISA, Shimizu Construction, Bovis Intl
Víctor Iborra Director, Investment Barcelona 2007 12 Zurich Insurance, Amazon, JP Morgan, Grupo Abrisa, Unilever
Marta de Azlor Senior Associate Barcelona 2014 8 Bank of America Merrill Lynch
Borja Daudí Associate Barcelona 2017 4 Crédit Suisse, Banco Sabadell Private Equity, Deloitte
Alberto González Director, Asset Management Madrid 2015 16 Falcon II, British Land, Unibail Rodamco
Luis Jaime de Antonio Associate Barcelona 2015 11 Drago Capital, CBRE
Rita Torres Associate Madrid 2016 13 CBRE, Blanco, Tous, Jesús del Pozo, Roberto Verino
Sandra López Manager Barcelona 2016 5 CBRE, Peñaroja-Palés’s office, Commercial Registry of Barcelona
Marina Breda Manager Barcelona 2017 4 Jones Lang LaSalle
PR
IVA
TE E
QU
ITY
David Torralba Partner Barcelona 2015 15 Doughty Hanson, JP Morgan
Guillermo Galmés Director Madrid / Barcelona 2016 12 Magnum Capital, ENA Capital, Mercapital, Morgan Stanley
Rodrigo Hervás Associate Barcelona 2016 6 PwC, Europraxis
Jose María Mateu Associate Barcelona 2017 3 Bank of America Merrill Lynch
AC
QU
ISI-
TIO
NS
ASSET
MA
NA
GEM
EN
T
Meridia Capital today
II.
Our businesses
REAL ESTATE
over €350M(1)
Meridia II Meridia III
€250 M
PRIVATE EQUITY
€110M
Barcelona
based firm
established
in 2006
An
independent
investment
company
Meridia Private Equity IMeridia III
(1) Including co-investment
Meridia II (Value Add, Real Estate, Spain, €150M, 2014 vintage)
InvestmentsInvestments
Strategy
• A fund focused on the Spanish real estate sector
• Primary focus on Madrid / Barcelona
• Investor base 70% institutional / 30% private
• Acquisition, refurbishment and/or reconversion
• All segments: Office, Retail, Hotel, Logistics, Residential, etc.
MADRID
Acqua
MADRID
Tandem
Henkel’s formerHQ
BARCELONA
Albufera Plaza
MADRID
Consum
VALENCIA
Horizon I & II
BARCELONA & MADRID
Avalon
MADRID
Miramadrid
MADRID
Aecus
MADRID
Nestlé’s SpanishHQ
BARCELONA
Ribarroja
VALENCIA EXIT: HORIZON II
Meridia III (Value Add, Real Estate, Spain, €215M(1), 2016 vintage)
InvestmentsInvestments
Strategy
• A fund focused on the Spanish real estate sector
• Primary focus on Madrid / Barcelona
• SOCIMI structure
• Acquisition, refurbishment and/or reconversion
• All segments: Office, Retail, Hotel, Logistics, Residential, etc.
• Investor base mostly institutional
(1) Incl. co-investment.
Bcn / Pamplona:
PROJECT ALTA
September 2016
Barcelona:
PROJECT VILA
October 2016
Madrid:
PROJECT SESEÑA
June 2017
Madrid / Bcn:PROJECT INSURANCE
April 2016
Madrid:
PROJECT LIGHT
July 2017
Barcelona:
PROJECT SEA
July 2017
Barcelona:
PROJECT BEATLE
November 2017
Madrid region:
PROJECT GEL
March 2018
Meridia Private Equity I (Private Equity, Spain, €110M, 2016 vintage)
InvestmentsInvestments
Strategy
• 7-8 companies
• Majorities and minorities
Target Investments
• International expansion
• Multi-sector approach
• Proven business model
• Industrial focus
• Proprietary deals
• Limited leverage
• Outstanding
management team
SOSA INGREDIENTS
• Leading producer and distributor of technical food ingredients for
the gastronomy segment.
• Nov 2016: Savencia Gourmet enters the shareholding of SosaIngredients. Savencia Groumet provides French meat specialties,
seafood products and premium chocolate.
www.sosa.cat
City: Moià (Barcelona)
Entry: September 2016
Sector: Gastronomy
Employees: 180
GRUPO ANDILANA
• Restaurant and hotel operator with 25 restaurants and 5 hotels
under management. It also has 7 restaurant franchises under “La
Mary” brand.
www.grupandilana.com
City: Barcelona
Entry: January 2017
Sector: Hospitality
Employees: 645
Socially responsible
Committed to responsible investment
Currently affiliated to
Track record
III.
Meridia I (Hospitality, Global, €150M, 2007 vintage)
2008 2009 2010 2011 2012 2013 2014
06/07:
Acquisition
Crowne Plaza,
Santiago
08/07:
Acquisition
Ritz-Carlton,
Santiago
02/08:
Acquisition
W + Apple,
Paris
06/08:
Acquisition Six
Senses,
Thailand
11/09:
Acquisition
Four Seasons,
Mexico
09/09:
Acquisition
InterContinental,
Sao Paulo
12/10:
Sale Six
Senses,
Thailand
06/12:
Sale Apple
Store, Paris
02/12:
Opening W,
Paris
05/13:
Sale Four
Seasons,
Mexico
Q3/13: Sale RC
and CP Chile
Q1/14: Sale
InterContinen
tal, Sao Paulo
12/14
Sale W,
Paris
06/10:
Opening
Apple Store,
Paris
According to Preqin, a top 10% performer amongst global real estate funds with 2007 vintage; fourth best performer in Europe
Source: Meridia Capital
2007
Hotel Arts, a success story
• 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 Ritz-
Carlton 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
• 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
• 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
… …
Hotel Arts and Javier
Faus, a Harvard Business
School case study
2001 2002 2004 2006
MCP
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