Bestinver
Asset management subsidiary of Acciona
Also known as Bestinver Gestión, S.A., SGIIC, Bestinver Infra
Madrid fund and pension manager owned by Acciona that runs direct infrastructure private-equity funds (Bestinver Infra and Infra II FCR) and PE funds of funds built from BlackRock funds.
- HEADQUARTERS
- Madrid, Spain
- FOUNDED
- —
- AUM
- —
- OUTSIDE CAPITAL
- Yes
- TEAM LISTED
- 8 people
Focus
- STAGES
- Growth
- ASSET MIX
- Private equityFunds (as LP)Public equities
- GEOGRAPHY
- EuropeNorth AmericaLatin America
Overview
Bestinver is a Madrid fund manager owned by Acciona, best known for equity mutual funds and pension plans. Since 2020 it has run an infrastructure private-markets team that invests directly in brownfield and yellowfield assets through Bestinver Infra FCR and Bestinver Infra II FCR, open to institutional and qualifying retail investors. Early holdings included a 5% stake in Acciona Energía Internacional and 20–25% stakes in three Acciona concessions; later deals include the San Luis Potosí polytechnic university concession in Mexico and a 57 MW solar portfolio in Spain. It also offers two private-equity funds of funds built from BlackRock-managed funds.
Investment thesis
Infrastructure funds: direct investment in mature (brownfield) and late-development (yellowfield) assets in renewable energy, social infrastructure, transport, water and telecoms, in Europe, North America and selected other markets.
PORTFOLIO (6)
- Acciona Energía Internacional (5% stake)Climate & Energy · since 2021
- Autopista CM-42 (minority stake)Mobility & Logistics · since 2021
- Hospital de Ibiza concession (minority stake)since 2021
- Hospital de San Sebastián de los Reyes concession (minority stake)since 2021
- Universidad Politécnica de San Luis Potosí concessionEducation · since 2022
- 57 MW regulated solar PV portfolio (Spain)Climate & Energy · since 2025
People
- Juan AlcaláDirector, infrastructure funds; manager of Bestinver Infra II · source
- Sofía FresnedaDirector, infrastructure funds team · source
- Diego MartialayDirector, infrastructure funds team · source
- Víctor MahilloSenior Associate, infrastructure funds team · source
- Javier VillénSenior Associate, infrastructure funds team · source
- Eva FerrándizAnalyst, infrastructure funds team · source
- Lola Valiente GonzálezAnalyst, infrastructure funds team · source
- Cecilia Crespo Díaz-CanejaJunior Analyst, infrastructure funds team · source
Links
Frequently asked questions
Bestinver is a private equity fund based in Madrid, Spain.
Yes. Bestinver invests its own capital in private companies. It also commits capital to third-party funds as an LP.
Bestinver invests at Growth stage in Climate & Energy and Mobility & Logistics.
Key people at Bestinver include Juan Alcalá (Director, infrastructure funds; manager of Bestinver Infra II), Sofía Fresneda (Director, infrastructure funds team), Diego Martialay (Director, infrastructure funds team) and Víctor Mahillo (Senior Associate, infrastructure funds team).
Bestinver's investments include Acciona Energía Internacional (5% stake), Autopista CM-42 (minority stake), Hospital de Ibiza concession (minority stake), Hospital de San Sebastián de los Reyes concession (minority stake), Universidad Politécnica de San Luis Potosí concession and 57 MW regulated solar PV portfolio (Spain).
The most recent publicly reported investment by Bestinver is 57 MW regulated solar PV portfolio (Spain) (Acquisition with project-finance debt (Abanca, Crédit Agricole)), announced in Jan 2025.
Yes. Bestinver manages capital from outside investors.