Although its roots date back to the late 1980s as a securities firm linked to Caja Madrid, the current phase of Beka Finance truly began in 2019 when Gala Capital, led by Carlos Tejera, acquired GVC Gaesco’s stake in the company. From that point, Tejera assumed the presidency while Carlos Stilianopoulos continued as CEO, a role he has held since 2013 along with the executive team, of which he is also a shareholder.
In the last five years, Beka Finance’s growth has made it one of the most significant players in Spain’s independent financial sector. The company currently employs 150 people and operates in three key areas: investment banking, asset management, and direct investments.
In investment banking, Beka Finance offers specialized advisory services in capital markets, with a focus on medium and small companies. “Since the early days of MARF, we have led this market because we strongly believe in providing alternative financing to SMEs,” says Stilianopoulos. In this regard, the company strengthened its mergers and acquisitions unit in 2020 by adding Arturo García-Tizón and Diego Aguinaga, former BNP Paribas executives.
The asset management division covers credit, private equity, real estate, and securitizations. Its expansion focus is on the credit segment, led by José Corral and channeled through the Beka Credit platform, launched in 2021 to finance SMEs with resources from its investors. Among the managed vehicles is the Triana SME Lending fund.
Beka AM, the group’s asset manager, specializes in illiquid alternative funds, all aimed at professional investors (with a minimum investment threshold of €100,000). Among its private equity funds is the Beka & Bolschare Iberian Agribusiness Fund, Spain’s first sustainable venture capital fund focused on agriculture, with €66 million already invested at 90%. A second edition is expected in 2025, with a capacity between €100 million and €200 million.
Other notable funds include Beka Alpha Search Funds, which focuses on search funds targeting SMEs with growth potential, and TheFoodTeachLab Funds, which invests in foodtech startups.
Under the name Beka Real Estate, led by Gustavo Martínez, the company also offers investment, development, and real estate management services. In securitization, Beka acquired Haya Titulización in 2022, rebranding it as Beka Titulización. It currently manages assets worth over €13 billion. “Initially, most of the assets were mortgages, but in recent years we’ve shifted focus to other asset types such as consumer, distressed loans, credit card debt, and factoring,” says the CEO.
Additionally, Beka Finance makes direct investments by taking minority stakes in companies with promising management teams. These investments are not channeled through regulated vehicles, allowing greater flexibility in holding the investment for as long as necessary. “In the past, all capital came from Beka, but now we co-invest, and if we detect a good opportunity, we offer it to international funds or family offices,” explains Stilianopoulos.
Among the company’s notable investments is a 33.5% stake in SOM Produce, responsible for popular musicals in Madrid’s Gran Vía such as Mamma Mia! and The Book of Mormon, as well as immersive experiences like Pompeya, The Legend of the Titanic, and Tutankhamun. It also holds a 20% stake in the audiovisual production company Secuoya.
