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Private Equity FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 9 SOURCES

GPF Partners

Also known as GPF Capital, GPF Partners SGEIC, S.L., GPF

Madrid private equity group founded in 2015 by four partners; €1.2bn raised across four PE funds for Spanish SMEs, mainly from Spanish, US and Latin American families; also real estate funds.

Spanish private equity group (gpf-partners.com). Not to be confused with GPF Capital, LLC (gpfcapital.com), an unrelated emerging-markets project firm.

HEADQUARTERS
Madrid, Spain
FOUNDED
2015
AUM
~€2B (2026, press estimate)
OUTSIDE CAPITAL
Yes
TEAM LISTED
9 people

Focus

STAGES
GrowthBuyout
SECTORS
Consumer & E-commerceIndustrial & ManufacturingFood & AgricultureFintechEducation
ASSET MIX
Private equityReal estate
GEOGRAPHY
Spain

Overview

GPF was founded in Spain in 2015 by Martín Rodríguez-Fraile, Ignacio Olascoaga, Lorenzo Martínez de Albornoz and Guillermo Castellanos. It manages independent private equity vehicles that invest in Spanish SMEs, with €1.2bn raised across four funds and 54 acquisitions completed, and a real estate business with Inbest. Its investors are mostly private investors and families from Spain, the US, Europe and Latin America; in 2025 Fond-ICO Global selected a GPF fund in its 17th call (expansion category). Expansión put its assets under management at about €2bn in March 2026.

Investment thesis

Majority investments from €15m in profitable, cash-generating Spanish SMEs with experienced management and growth potential (organic, export or consolidation); sector-generalist; moderate leverage; family-business transitions and management buy-ins.

PORTFOLIO (12)

  • Rafa Nadal AcademyNOTABLE
    Education · since 2023
  • Grupo PacháNOTABLE
    Consumer & E-commerce · since 2017 · Exited (partial, 2023)
  • Beedigital
    Software & SaaS · since 2026
  • A&G Banca Privada
    Fintech · since 2026
  • JHK T-Shirt
    Consumer & E-commerce · since 2025
  • Grupo La Flauta
    Consumer & E-commerce · since 2025
  • Palacios Alimentación
    Food & Agriculture · since 2025
  • Go Bravo
    Fintech · since 2023
  • Lezama Demoliciones
    Industrial & Manufacturing · since 2022
  • Golderos
    Industrial & Manufacturing · since 2019
  • Imedexsa
    Industrial & Manufacturing · since 2023 · Exited (2025)
  • Gestair
    Mobility & Logistics · since 2019 · Exited (2025)

People

  • Martín Rodríguez-Fraile Huete
    Managing Partner · source
  • Lorenzo Martínez de Albornoz Torrente
    Managing Partner · source
  • Ignacio Olascoaga Palacio
    Managing Partner · source
  • Guillermo Castellanos O’Shea
    Managing Partner · source
  • Anabel López González
    Chief Financial Officer · source
  • Carlos Monzón Marín
    Investment Director · source
  • Ramón Azpiroz Arteche
    Portfolio Managing Director · source
  • Agustín Agudo García
    Portfolio Operations Director · source
  • Delia Izquierdo Esteban
    Real Estate Managing Director · source

Links

Frequently asked questions

GPF Partners is a private equity fund based in Madrid, Spain, founded in 2015.

Yes. GPF Partners invests its own capital in private companies.

GPF Partners invests at Growth and Buyout stages in Consumer & E-commerce, Industrial & Manufacturing, Food & Agriculture, Fintech and Education.

GPF Partners's stated ticket size is From €15M.

Key people at GPF Partners include Martín Rodríguez-Fraile Huete (Managing Partner), Lorenzo Martínez de Albornoz Torrente (Managing Partner), Ignacio Olascoaga Palacio (Managing Partner) and Guillermo Castellanos O’Shea (Managing Partner).

GPF Partners's investments include Rafa Nadal Academy, Grupo Pachá, Beedigital, A&G Banca Privada, JHK T-Shirt, Grupo La Flauta, Palacios Alimentación and Go Bravo, among others.

The most recent publicly reported investment by GPF Partners is Beedigital (MBO (majority stake, with Martínez Peón)), announced in Jun 2026.

Yes. GPF Partners manages capital from outside investors.