Beka Finance, the Spanish financial firm majority-owned by Gala Capital (65%), has completed the acquisition of Sagres, Citi’s securitization management subsidiary in Portugal. The transaction, pending approval from Portuguese regulator CMVM, brings in a company managing €6.5 billion in assets across 13 securitizations involving mortgages, consumer loans, and SMEs.
With this acquisition, Beka strengthens its position in the Iberian market, aiming to establish itself as an independent player in asset management and financial structuring. Until now, the firm had been operating in Portugal from its Madrid headquarters, where it advised on notable deals such as bond issues for the Azores region and infrastructure company Efacec.
Beka’s next strategic move is to complete its offering by incorporating a private banking team in Spain. The firm already operates a brokerage and an asset management company (Beka Asset Management) but plans to add a specialized commercial team, either through new hires or further acquisitions.
The company has previously shown interest in such deals, having been a finalist in the 2019 bidding process for Novo Banco’s asset management arm—a move that would have helped boost assets under management for its then newly launched investment firm.
In parallel, Beka Finance and Gala Capital are relocating their offices to the former headquarters of Novo Banco at 88 Serrano Street, in the heart of Madrid’s financial district, reinforcing their institutional presence in the market.
