Lanza Capital, a Spanish investment firm, has raised €550 million ($595 million) for its new fund focused on acquiring and operating car parks.
The vehicle is a continuation fund, in which Brookfield Asset Management and Partners Group have become the anchor investors. British multinational law firm Clifford Chance advised investors led by Brookfield on their investment. The fundraise exceeded the expected target, according to local reports.
Lanza Capital is focused on investing funds in car park infrastructure. For the past two decades, the firm has managed and has been responsible for opening more than a hundred facilities. Lanza Capital acquires car parks in freehold or as concessions for more than 20 years. The establishments have parking lots that are used in rotation and for permit holders, with proven cash flow–generating capacity. For the moment, the company is focusing on the Spanish markets, but it does not rule out launching in other European markets.
