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Private Equity FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 13 SOURCES

Blackpearl Capital

Also known as Blackpearl Capital Management SGEIC, S.A., Blackpearl Capital Management, BKP Capital

Madrid special-situations private equity manager investing €8–20M in Spanish SMEs facing shareholder transitions, over-leverage, liquidity stress or management gaps; Fund III €150M.

Not to be confused with Black Pearl Capital (blackpearlcap.com), an unrelated investment firm.

HEADQUARTERS
Madrid, Spain
FOUNDED
2014
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
8 people

Focus

STAGES
Buyout
SECTORS
Industrial & ManufacturingFood & AgricultureConsumer & E-commerceSoftware & SaaS
ASSET MIX
Private equity
GEOGRAPHY
Spain

Overview

Blackpearl Capital Management SGEIC, S.A. is a Madrid-based manager, founded in 2014 and authorised by the CNMV in October 2020 (reg. no. 174), that invests in Spanish SMEs in special situations: shareholder transitions and succession, non-core disposals, over-leveraged companies and restructurings, liquidity constraints and management improvement. It is led by Pedro Ruiz de Marcos, Pablo Moreno de la Cova and Juan Serra Castillejo. Its second special-situations fund was enlarged to €125M with JP Morgan as co-investor alongside international investors and Spanish family offices, and its third fund (€150M) began investing in 2025.

Investment thesis

Spanish SMEs with EBITDA of €2M–€5M in special situations (shareholder transition, non-core carve-outs, over-leverage and restructurings including insolvency processes, working-capital stress, management improvement); €8M–€20M investments, build-ups and sale to larger PE firms.

PORTFOLIO (12)

  • Prephor
    Industrial & Manufacturing · since 2025
  • Transportes Chinchón
    Mobility & Logistics · since 2025
  • ABAI
    Software & SaaS · since 2024
  • Mensajero Alimentación
    Food & Agriculture · since 2023
  • Catral Garden
    Consumer & E-commerce · since 2021
  • Grupo Alae Univer
    since 2022
  • Dillepasa
    since 2021
  • ADBT Trasemisa
    since 2021
  • Saffron Packers
    Food & Agriculture · since 2017
  • Cinemanía
    Media & Entertainment · since 2016
  • Neoelectra
    Climate & Energy · since 2015
  • Lizarrán
    Consumer & E-commerce · since 2014

People

  • Pedro Ruiz de Marcos
    Founding Partner · source
  • Pablo Moreno de la Cova
    Managing Partner · source
  • Juan Serra Castillejo
    Partner · source
  • Laura Ybarra Cólogan
    Director · source
  • Jorge Torner del Villar
    Director · source
  • José María Ripoll Macías
    Associate · source
  • Miguel Sendagorta Fernández-Durán
    Analyst · source
  • Gema Movilla
    CFO · source

Links

Frequently asked questions

Blackpearl Capital is a private equity fund based in Madrid, Spain, founded in 2014.

Yes. Blackpearl Capital invests its own capital in private companies.

Blackpearl Capital invests at Buyout stage in Industrial & Manufacturing, Food & Agriculture, Consumer & E-commerce and Software & SaaS.

Blackpearl Capital's stated ticket size is €8M–€20M.

Key people at Blackpearl Capital include Pedro Ruiz de Marcos (Founding Partner), Pablo Moreno de la Cova (Managing Partner), Juan Serra Castillejo (Partner) and Laura Ybarra Cólogan (Director).

Blackpearl Capital's investments include Prephor, Transportes Chinchón, ABAI, Mensajero Alimentación, Catral Garden, Grupo Alae Univer, Dillepasa and ADBT Trasemisa, among others.

The most recent publicly reported investment by Blackpearl Capital is Prephor (Special situations (Fund III)), announced in Dec 2025.

Yes. Blackpearl Capital manages capital from outside investors.