Gala Capital Desarrollo has registered a new hedge fund (FIL) with the CNMV under the name Knight Street. Although classified as Eurozone equities, the fund will use the Ibex 35 as its benchmark.
Knight Street follows a fundamental analysis strategy and will focus on a concentrated portfolio of between 3 and 10 listed companies, primarily (at least 60%) within the eurozone. It will target businesses with a strong presence in Spain, international growth potential, high-quality assets, attractive valuations, and competitive advantages. Additionally, it will maintain between 2% and 5% of its assets in cash.
The fund has a high-risk profile due to its concentrated nature. It offers two share classes:
- Class A: For employees, executives, and related parties of the fund manager who qualify as professional investors. It requires a minimum investment of €100,000 and carries a 1.5% management fee and a 25% performance fee.
- Class B: Also reserved for professional investors, with a minimum investment of €1 million. It shares the same fee structure.
Gala Capital Desarrollo, founded in 1998 as a private equity firm, recently became a Management Company for Collective Investment Institutions (SGIIC). It is owned by its management team: Carlos Tejera, Luis Chicharro, Iñigo González de Luna, Alberto Espigares, Abigail Sánchez del Río, Elena de Benavides, and Rodrigo Aguirre de Cárcer.
