Spanish firm enters U.S. markets

Azora Capital, the Madrid-based European private equity manager with approximately €4 billion ($4.6 billion) of assets under management, has entered the U.S. real estate market through the creation of AZORA EXAN by joining forces with Exan Capital, an independent real estate manager headquartered in Miami.

The transaction is an important step in Azora’s continued internationalization strategy, adding onto its consolidated European reach and enabling Azora to have direct investment capabilities in the United States, a market that it has identified as strategic for its future growth. This announcement comes shortly after the final close of Azora’s latest pan-European hospitality fund, which further buttresses its pan-European platform with €1.8 billion ($2.1 billion) of additional investment capacity.

Exan, with more than $1 billion of assets under management, is led by Juan José Zaragoza and Ignacio Gil-Casares, who previously held senior positions in Banco San