El socio de minorías de Portobello sale de la gestora

Victor Viros, a key executive in investments such as Condis, Plenoil or Proeduca, is leaving the Portobello manager. Viros, a partner in Portobello responsible for the minority fund of the manager, agreed last week to leave the firm due to disagreements with the board on the strategy to follow, according to several industry sources.

The disentanglement has taken place amicably between the parties. From now on, the director will seek new professional challenges after a seven-year stint at Portobello, where he played a key role in investments like Condis, Plenergy, Solions or Proeduca, among others. The immediate consequence of the departure is that Portobello will delay the process of raising its second minority fund, planned for the end of this year, until mid-next year.

The Portobello Structured Partnerships (PSP), which raised 250 million euros in 2022, is fully invested and began its disinvestment period last year by transferring its 35% stake in AGQ Labs to Fremman. The fund has also recently sold a portion of its stake in the supermarket chain Condis as part of a refinancing that includes the distribution of an extraordinary dividend of about 100 million euros.

The other co-responsible of the minority fund of Portobello is Carlos Dolz. The founders of the firm, Juan Luis Ramírez, Índigo Sánchez-Ásian and Luis Pejarrocha, are also involved in the vehicle. Apart from its minority strategy, Portobello has just raised a 300 million euro fund from Qatar and Cofides to invest in small caps, companies with up to 10 million ebitda.

Furthermore, it finalizes the sale of its fifth flagship fund, worth around 700 million euros. Viros' departure joins those of Joaquín Ariza, Joan Llansó, Jorge de Mello and Gonzalo Samaniego. The manager, however, has just hired five new vice-presidents and is in the process of hiring new executives. Portobello employs about 50 people.