StepStone Real Estate (SRE), the real estate arm of StepStone Group, and GREYKITE, an independent European real estate investment firm, have planned the recapitalization of Vitalia, Spain’s second-largest care home owner-operator, through the agreement to acquire a majority interest in Vitalia from Vivaly Investments BV, a portfolio investment of CVC Fund VI and Portobello Capital Fund III, and the commitment of more than €500 million ($583 million) in growth capital. Both Vivaly Investments BV and Vitalia’s founder and senior management team will be retaining minority stakes. GREYKITE will be acting as the general partner on behalf of the shareholders, leading day to day management of the investment. The transaction remains subject to customary regulatory approvals.
Vitalia is the benchmark for residential quality in Spain with its “homes for living” model: pioneering a resident-centered care model that focuses on at-home and on-site rehabilitation, dedicated tech-
