Francisco Paramés has expanded his foothold in the Spanish asset management industry through the purchase of a minority stake in a rival value investment specialist.
Cobas Asset Management – which Paramés formed when he returned to fund management last year – has struck a deal with Equam Capital, albeit subject to regulatory approval.
Cobas AM and Equam had already been working together since last year under a project masterminded by Paramés to promote smaller value investment firms.
Paramés said the agreement was designed to aid the development of ‘little-known value managers’ currently operating in Spain but with limited exposure.
Equam Capital was founded by José Antonio Larraz and Alejandro Munoz in 2015, with the duo overseeing the flagship Equam Global Value fund and the Ucits-compliant Incometric Fund – Equam Global Value.
It is understood the minority stake is the first of many likely to be undertaken by Paramés to further enhance Spain’s value investing community.