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Operational Investors

Our Strategy

We pursue control-oriented equity and debt investments in Portuguese companies where we can unlock significant growth and improvement potential. The combination of our broad operational background, flexible investment mandate and deep knowledge of the local business fabric is unique to the portuguese Private Equity market.

 

Our businesses

Atena invested in four sectors: Industrials,  Education, Healthcare and Business Services. Together they represented around 260M€ in sales, with over two thirds abroad, and more than 2000 people. We have experience with exporting to more than 40 countries, with local presence in Portugal, Spain, Poland, Brazil, Algeria, Mozambique and Cameroon.

 

Our Team

Atena was founded on the premise that it is crucial to have in-house operational experience to make sounder investment decisions and to support the portfolio management teams in the design and implementation of truly transformational projects. Above all, we all share the same culture of Independence, Candor and Merit.

 

Our Investors

Atena is currently investing its Atena II fund, closed in January 2019 with 75M€. Atena's funds under management have as ultimate beneficiaries its management team and several international (European and US) institutions. Atena Equity Partners and its funds under management are authorised and regulated by the CMVM.

 

 

What we look for

Investment Criteria

  • Portuguese companies with Revenues of more than 10M€, profitable or loss-making
  • Enterprise / asset value between 10M€ and 100M€
  • Will consider any sector, including Real Estate intensive businesses
  • Strong barriers to entry: brands, regulatory barriers, location, cost advantages, high client switching costs
  • Acquisition of controlling interests, ideally with a significant co-investment by the management team

Target Situations

  • Operational and financial restructurings
  • Control-oriented distressed debt 
  • Carve-outs of non-core businesses
  • Family-owned companies facing succession issues
  • Buy-and-builds

Our Team

Atena was founded on the premise that it is crucial to have in-house operational experience to make sounder investment decisions and to support the portfolio management teams in the design and implementation of truly transformational projects. Two of the three Founding Partners have had significant line experience in Portuguese SMEs and our Operating Partners, world-class senior executives who invest and work alongside Atena's investment team, strengthen our due diligence capacity and help to foster change at the portfolio level by "having done it before".

Atena has also developed a network of Operating Executives who are affected to its fund's portfolio companies as interim executive managers when necessary, and with the consultive support from Senior Advisors who are heavyweights in the Portuguese corporate world.

Management Company

Current Investments

Divestments

Environmental, Social and Governance

Atena is committed to contributing to sustainable development, actively incorporating Environmental, Social and Governance (“ESG”) principles in our operations. It is our belief that as control-focused investors, we have a unique opportunity to promote a fairer, more inclusive society, and tailor our operations to respect environmental and climatic causes.

As part of our ESG commitment, we are active signatories and promoters of the United Nations-backed Principles for Responsible Investment. Throughout our investment process and portfolio management processes, we have implemented strict ESG policies to allow us to filter investment targets, identify ESG value creation opportunities early on, monitor our portfolio, and continuously improve our practices.

Atena’s 4 core social responsibility pillars are:

  • Climate Centric: 
    We are focused on optimizing for climate impact in all our decisions and are committed to continuously improving our operations, aiming to neutralize our carbon footprint and reduce negative environmental impacts.
  • Transparent Reporting:
    We are committed to actively reporting on our ESG matters publicly and with all stakeholders, following best international practices.  
  • Inclusion Focused Governance:
    We actively manage for inclusion, working to have a diverse employee base in our portfolio companies, with gender equality and non-discrimination; We share best practices, providing adequate resources and training to management teams and Atena employees.
  • Sector Sensitive Capital Allocation:
    We do not invest in sectors that have a negative impact to society, among others: weapons, gambling, tobacco industries or companies associated with fraudulent practices.

Latest Atena Sponsored Initiatives:

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