Company:Beka Finance

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Short description: Spanish financial services company
Beka Finance
TypeFinancial institution
IndustryFinancial investments
Founded1989
HeadquartersMadrid, Spain
Key people
  • Carlos Tejera (Chairman)
  • Carlos Stilianopoulos (CEO)
AUM€25.5bn
Number of employees
200+
Websitewww.bekafinance.com

Beka Finance is a Spanish financial services company, created in 1989 as a subsidiary of Caja Madrid (which subsequently became Bankia). Beka Finance specializes in providing and developing financial products and services, asset management, financial advisory, investment banking and direct investment.[1]

Background and transactions

In 2013, the company was acquired by the Catalan investor group GVC Gaesco,[2] which subsequently sold the company to Gala Capital in 2020.[3]

The firm is primarily owned by its management team. The chairman is investment banker and entrepreneur Carlos Tejera, formerly a consultant at McKinsey & Company and chairman of Gala Capital. Carlos Stilianopoulos, CEO of Beka Finance, was previously president of Wholesale Banking and CFO at Bankia.

Since 2020, Beka Finance has undertaken a series of international financial transactions. In 2020, bought the Portuguese loan securitization company Sagres, which had over €6.5bn under management and was previously owned by Citigroup.[4] That year, Beka also raised €60m for its social impact fund Cuanimen.[5]

In 2021, launched the €300m Beka & Bolschare Iberian Agribusiness Fund to invest in sustainable agriculture;[6] it also created Beka Credit, a new €2.3bn lending platform.[7]

In 2022, Beka acquired the securitization fund manager Haya Titulización from US fund Cerberus,[8] with €23.2bn worth of assets under management, and agreed to buy Trea, an independent asset management firm in Spain with over €6bn under management.[9]

The firm has invested in several FinTechs: Rebellion Pay,[10] a payment service provider, and Hey Trade, an online broker. The company is also a large financial investor of Spanish musicals producer, SOM Produce,[11] founded by musical producer José Maria Cámara, and of Secuoya Grupo de Comunicación, which manages audio-visual production for Netflix in Spain.[1]

Controversies

In 2014, FCC suspended a liquidity contract with Beka Finance, coinciding with the announcement that investor George Soros was taking a stake in FCC.[12] Some media outlets have also reported that George Soros used Gala Capital, a significant shareholder in Beka Finance, as an investment vehicle  to participate in the Spanish market.[13]  

In April 2021, Beka hired most of the M&A team from BNP Paribas to launch its own M&A division.[14]

In 2021, Beka appointed former Spanish Agriculture Minister and European Commissioner for Energy and Climate Action Miguel Arias Cañete to its Board.[15]  To accept the role, Arias Cañete was required to request approval under Article 11 of the Code of Conduct for members of the European Commission.[16]

References

  1. ↑ 1.0 1.1 Mendieta, Miguel Moreno (2022-11-16). "Beka Finance: el nuevo jugador financiero que quiere doblar su negocio en fondos de inversión" (in es). https://cincodias.elpais.com/cincodias/2022/11/09/fondos_y_planes/1668005572_823656.html. 
  2. ↑ lainformacion.com (2013-09-17). "La sociedad de valores GVC Gaesco ultima la adquisición de Bankia Bolsa" (in es). https://www.lainformacion.com/economia-negocios-y-finanzas/la-sociedad-de-valores-gvc-gaesco-ultima-la-adquisicion-de-bankia-bolsa_bQhjwoVZIwXdNs8Ad75o96/. 
  3. ↑ "GVC Gaesco sells half of Beka Finance to Gala Capital" (in en). 2019-04-04. https://www.internationalinvestment.net/news/4001668/gvc-gaesco-sells-half-beka-finance-gala-capital. 
  4. ↑ "Beka Finance já é a única detentora da sociedade de titularização de créditos Sagres" (in pt-PT). https://www.jornaldenegocios.pt/empresas/detalhe/beka-finance-ja-e-a-unica-detentora-da-sociedade-de-titularizacao-de-creditos-sagres. 
  5. ↑ "Beka levanta 60 millones para su fondo Cuanimen - Capital-Riesgo.es". http://capital-riesgo.es/es/articles/beka-levanta-60-millones-para-su-fondo-cuanimen/. 
  6. ↑ "Beka Finance y Bolschare realizan el primer cierre de su fondo de 'agrobusiness'". Europa Press. 2021-09-24. https://www.europapress.es/economia/finanzas-00340/noticia-beka-finance-bolschare-realizan-primer-cierre-fondo-agrobusiness-20210924133437.html. 
  7. ↑ "Beka Finance ficha un nuevo equipo para su área de deuda privada" (in es). 2021-12-10. https://www.elespanol.com/invertia/mis-finanzas/fondos-de-inversion/20211210/beka-finance-ficha-nuevo-equipo-deuda-privada/633687340_0.html. 
  8. ↑ "Beka Finance Acquires Haya's Debt Issuer From Cerberus - Brainsre news España" (in en-US). https://brainsre.news/en/beka-finance-acquires-hayas-debt-issuer/. 
  9. ↑ Vidal, Desiré (2022-07-13). "A&R steers Beka Finance´s acquisition of Trea AM" (in en-GB). https://legaldealmaker.com/ar-steers-beka-finances-acquisition-of-trea-am/. 
  10. ↑ Digital, Confidencial (2021-03-24). "Rebellion se convierte en miembro principal de Mastercard y asienta su liderazgo en España" (in es). https://www.elconfidencialdigital.com/articulo/comunicados/rebellion-convierte-miembro-principal-mastercard-asienta-liderazgo-espana/20210324122133225980.html. 
  11. ↑ "SOM Produce, participada del área de Private Equity de Beka Asset Management, lanza la primera escuela de musicales en España, SOM Academy - Capital-Riesgo.es". http://capital-riesgo.es/es/articles/som-produce-participada-del-rea-de-private-equity-de-beka-asset-management-lanza-la-primera-escuela-de-musicales-en-espa-a-som-academy/. 
  12. ↑ S.A, Web Financial Group. "FCC suspende temporalmente su contrato de liquidez con Beka Finance" (in es). https://www.bolsamania.com/noticias/empresas/fcc-suspende-temporalmente-su-contrato-de-liquidez-con-beka-finance--623403.html. 
  13. ↑ "Gala Capital, el brazo inversor de Soros en España - Expansión.com". https://www.expansion.com/2006/09/04/empresas/821354.html. 
  14. ↑ Marco, Agustín (2021-04-06). "Beka Finance da el golpe al fichar al equipo de banca de inversión de BNP Paribas" (in es). https://www.elconfidencial.com/empresas/2021-04-06/beka-finance-golpe-fichar-equipo-banca-inversion-bnp-paribas_3012712/. 
  15. ↑ "Beka ficha a Arias Cañete para lanzar un fondo de agricultura" (in es). 2021-09-12. https://www.expansion.com/mercados/2021/09/12/613e71b5e5fdeada318b4585.html. 
  16. ↑ "Code of Conduct for the Members of the European Commission" (in en). https://commission.europa.eu/about-european-commission/service-standards-and-principles/ethics-and-good-administration/commissioners-and-ethics/code-conduct-members-european-commission_en. 

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