Atena Equity Partners
Operational Investors
Investment Strategy
We invest in high-quality portuguese businesses facing restructuring or succession challenges
Operational Foundation
Significant in-house operational experience enables better investment decisions and truly transformational projects
Culture
Independence, Candor, Merit
ESG
As long-term investors, we hold that a focus on ESG throughout the investment lifecycle allows us to better identify investment risks and value creation opportunities
Operational Investors
Our Investment Strategy
Atena invests in high-quality Portuguese companies facing succession or restructuring challenges. Atena has substantial experience investing in control-oriented equity and distressed debt instruments, adapting each deal structure to the needs of the seller and the stabilization of the company. Atena’s in-house portfolio development team works closely with the target company’s management team from day one to define and implement ambitious value creation plans.
Our businesses
Since its foundation in 2014, 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 Funds
Atena raised its first Atena I fund in 2014 and 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
- 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
- Family-owned companies facing succession issues
- Operational and financial restructurings
- Control-oriented distressed debt
- Carve-outs of non-core businesses
- 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 we count today with in-house dedicated Transactions and Portfolio Development teams. 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
Environmental, Social and Governance
Currently Atena does not market or manage funds that directly promote environmental or social characteristics nor those aimed at sustainable investments.
Nonetheless, we firmly believe ESG-driven decisions by consumers and governments worldwide have a material impact on the success of our investment mandates. Therefore, as long-term investors, we hold that a focus on ESG throughout the investment lifecycle allows us to better identify investment risks and value creation opportunities.
Furthermore, as part of our ESG commitment, we are active signatories and promoters of the United Nations-backed Principles for Responsible Investment.
SUSTAINABLE FINANCE DISCLOSURE REGULATION
Atena Equity Partners makes the following disclosures in accordance with the Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability‐related disclosures in the financial services sector (“SFDR”).
Integration of sustainability risks into investment decision-making processes (Article 3 of the SFDR)
Currently Atena does not market or manage funds that directly promote environmental or social characteristics (Article 8 of the SFDR) nor those aimed at sustainable investments (Article 9 of the SFDR).
Nonetheless, we firmly believe ESG-driven decisions by consumers and governments worldwide have a material impact on the success of our investment mandates. Therefore, as long-term investors, we hold that a focus on ESG throughout the investment lifecycle allows us to better identify investment risks and value creation opportunities.
Statement on the Principal Adverse Impacts (PAI) of investment decisions on sustainability factors (Article 4 of the SFDR)
Current investment mandates do not explicitly consider the adverse impacts of investment decisions on sustainability factors.
As this is a subject under continuous review, Atena intends to reassess its position on an annual basis updating, when possible, its practices and information made available here.
Integration of sustainability risks into remuneration policy (Article 5 of the SFDR)
Atena pays a combination of fixed and variable remuneration aligned with the performance of the funds managed and can be reduced in case of poor monitoring of sustainability indicators.
[EU Sustainable Finance Disclosure Regulation - download PDF]
ATENA’S 4 PRINCIPLES FOR RESPONSIBLE INVESTMENT ARE:
- Climate Centric:
We are focused on optimizing climate impact and 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, following best international practices - Inclusion Focused Governance:
We foster gender equality and non-discrimination; We share best practices, provide adequate resources and training to management teams - 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:
Obra Social Madre Maria Clara (OSMMAC)
Donors to the OSMMAC, an organization focused on promoting infant inclusion and education, and preventing elderly isolation in Portugal.
Associação Abraçar São Tomé e Príncipe
Donor to an organization that actively works to support the local São Tomé e Príncipe community, contributing through multiple initiatives such as education, professional formation and construction.
Partnership between ISCTE’s Executive MBA candidates, INDEG ISCTE, and Void
Sponsored the Crowdfunding campaign to cover the annual costs of four children from “Casa Acreditar de Lisboa”, focused on supporting child cancer. Atena doubled all donations from both individual and corporate donors, surpassing the required funding.