Bewater Funds

Bewater Funds provides an opportunity for professional investors to invest in shares or other illiquid assets of a single unlisted company, primarily in Spain and other OECD countries, through a Closed End Fund (CEF). The Management Company, Bewater Asset Management SGEIC, SA, selects the companies for investment. This approach aims to provide access to private company investments typically unavailable to individual professional investors, mitigating the illiquidity issues associated with shares of SL (limited liability) companies in Spain. Bewater offers a platform for shareholders of CEFs to express interest in selling their shares. The investment process involves registering as a professional investor, choosing the company to invest in, expressing interest, and transferring funds to become a shareholder. Conversely, selling shares involves selecting the company, expressing interest, and awaiting Bewater's assistance in finding a buyer. The investment carries inherent risks associated with closed-end funds, including restricted share transfers and potential delays or inability to sell shares at the desired price. The management team has invested €2.5M in these funds, aligning their interests with the investors. The firm offers a diversified fund, Indexa Mercados Privados 2026 FCR. They pre-select companies, claiming expertise based on a history of over 50 investments. Their fee structure is a 1% management commission and a 10% success commission. Bewater highlights the security provided through a fund registered with the CNMV (Comisión Nacional del Mercado de Valores). The firm addresses the illiquidity problem of Spanish SL companies, where transferring shares is typically difficult due to shareholder rights and required authorizations.

Illiquid assets, unlisted companies

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