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Private Equity FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 37 SOURCES

Buenavista Equity Partners

Also known as GED Capital, GED Iberian Private Equity, Buenavista Buyout, S.A., SGEIC, Buenavista Infrastructure SGEIC, S.A., Buenavista Ventures, S.A., SGEIC, GED Conexo

Madrid lower/mid-market private capital group founded in 1996 (formerly GED Capital); buyout, healthcare, infrastructure and venture funds; €1.3bn AUM, 800+ investors.

HEADQUARTERS
Madrid, Spain
FOUNDED
1996
AUM
€1.3B (2026)
OUTSIDE CAPITAL
Yes
TEAM LISTED
12 people

Focus

STAGES
SeedSeries AGrowthBuyout
SECTORS
HealthTechIndustrial & ManufacturingConsumer & E-commerceFood & AgricultureBiotech & Life SciencesSoftware & SaaSSpace
ASSET MIX
Private equityVenture capitalDirect investments
GEOGRAPHY
SpainPortugal

Investment arms & vehicles

  • Buenavista Buyout (Private Equity)
    Majority buy-and-build investments in Spanish lower/mid-market companies, plus healthcare growth and secondaries strategies; managed by Buenavista Buyout, S.A., SGEIC
  • Buenavista Infrastructure
    Private brownfield infrastructure funds and EU-backed urban development / energy-efficiency funds (€10–40M deals); managed by Buenavista Infrastructure SGEIC, S.A.
  • Buenavista Ventures
    Series A venture capital in Spanish digital start-ups (Buenavista Ventures I, €50M); managed by Buenavista Ventures, S.A., SGEIC (ex-GED Conexo)
  • Buenavista Equity Partners Portugal
    Lisbon venture capital arm; manages Buenavista Tech Seed (€100M) for Portuguese seed-stage start-ups

Overview

Buenavista Equity Partners, renamed from GED Capital in October 2024, is an independent Madrid-based private capital group founded in 1996 that reported €1.3bn under management and a team of more than 60 in September 2026; its site cites more than 800 investors. It operates through three CNMV-registered SGEICs: Buenavista Buyout (majority buy-and-build deals of up to €30M in Spanish companies with EBITDA above €3M in industrials, consumer/food and healthcare, plus healthcare growth and secondaries), Buenavista Infrastructure (brownfield and EU-funded urban and energy projects) and Buenavista Ventures (Series A start-ups), with a Portuguese venture arm in Lisbon. Its third buyout fund, Buenavista Buyout Innvierte III, was launched in July 2025 with a €250M target.

Investment thesis

Buyout: majority stakes in Spanish companies with EBITDA above €3M and operating margins above 15% in industrials, consumer/food and healthcare, 7–10 companies per fund, up to €30M per deal, buy-and-build and digitalisation; infrastructure: small/mid Iberian brownfield and greenfield projects of €10M–€40M; venture: Series A digital start-ups in Spain and seed R&D-intensive start-ups in Portugal.

PORTFOLIO (12)

  • Instituto Bernabeu
    HealthTech · since 2026
  • Hundred Burgers
    Consumer & E-commerce
  • Eugin
    HealthTech
  • Grupo Vitro
    Industrial & Manufacturing
  • Comess Group
    Consumer & E-commerce
  • Discefa
    Food & Agriculture
  • Parasol Media
    Media & Entertainment
  • Highlight Therapeutics
    Biotech & Life Sciences
  • Ienai Space
    Space
  • Evidenze
    HealthTech · Exited
  • Shop&Roll
    Industrial & Manufacturing · Exited
  • Aviaction
    Industrial & Manufacturing · Exited

People

  • Enrique Centelles Echeverría
    Chairman and Founding Partner · source
  • Enrique Centelles Satrústegui
    CEO; Managing Partner Private Equity · source
  • Rafael López Armenta
    Managing Partner, Private Equity / Buyout · source
  • Nuria Osés Múgica
    Managing Partner, Private Equity / Healthcare · source
  • Jorge Juliani Aznar
    Partner, Buyout · source
  • Álvaro Moraga Gómez-Olea
    Partner, Private Equity / Buyout · source
  • Josep Bono Guerrero
    Partner, Private Equity / Buyout · source
  • Victoriano López-Pinto Fernández de Navarrete
    Managing Partner, Buenavista Infrastructure · source
  • Juan José Clavería García
    Managing Partner, Buenavista Infrastructure · source
  • Joaquim Hierro Lopes
    Managing Partner, Venture Capital · source
  • Juan Puertas Vázquez
    Partner, CFO and Investor Relations · source
  • Rafael Trebolle Larraz
    Partner · source

Links

Frequently asked questions

Buenavista Equity Partners is a private equity fund based in Madrid, Spain, founded in 1996.

Yes. Buenavista Equity Partners invests its own capital in private companies.

Buenavista Equity Partners invests at Seed, Series A, Growth and Buyout stages in HealthTech, Industrial & Manufacturing, Consumer & E-commerce, Food & Agriculture, Biotech & Life Sciences, Software & SaaS and Space.

Buenavista Equity Partners's stated ticket size is Up to €30M.

Key people at Buenavista Equity Partners include Enrique Centelles Echeverría (Chairman and Founding Partner), Enrique Centelles Satrústegui (CEO; Managing Partner Private Equity), Rafael López Armenta (Managing Partner, Private Equity / Buyout) and Nuria Osés Múgica (Managing Partner, Private Equity / Healthcare).

Buenavista Equity Partners's investments include Instituto Bernabeu, Hundred Burgers, Eugin, Grupo Vitro, Comess Group, Discefa, Parasol Media and Highlight Therapeutics, among others.

The most recent publicly reported investment by Buenavista Equity Partners is Instituto Bernabeu (Buyout (add-on to Eugin, Buyout III)), announced in May 2026.

Yes. Buenavista Equity Partners manages capital from outside investors.