Madrid, July 01, 2024. COFIDES has joined Invest Europe, the European association representing the main European players linked to private equity. Participation in Invest Europe reinforces COFIDES' institutional activity related to its new mandate, aimed at attracting foreign investors' resources to the Spanish economy.
COFIDES thus expands and consolidates its active presence in the main international forums linked to its different lines of activity. In addition to the European Development Finance Institutions (EDFI), the sovereign wealth fund networks International Forum of Sovereign Wealth Funds (IFSWF) and One Planet Sovereign Wealth Funds (OPSWF), Invest Europe will become a new strategic partner of particular relevance for the implementation of the FOCO co-investment fund.
ABOUT INVEST EUROPE
Based in London, Invest Europe is the world's largest private equity association. It represents leading private equity, venture capital, and infrastructure investment managers and their investors, including some of Europe's largest pension funds and insurers.
ABOUT COFIDES
COFIDES is a state-owned commercial company specialized in managing State funds that provides financing for private investments to achieve various public policy objectives. For over three decades, it has been managing resources aimed at supporting the internationalization of Spanish companies, and since 2021, the FONREC, a fund aimed at strengthening the solvency of Spanish companies severely affected by the COVID-19 pandemic. COFIDES has been assigned the direct management of two new financial instruments: the Co+-investment Fund (FOCO), to attract foreign investment to Spain in activities mainly linked to green and digital transitions, and the Social Impact Fund, aimed at reinforcing the national ecosystem of impact investment. Additionally, COFIDES supports the Spanish Agency for International Development Cooperation (AECID) in managing financial cooperation resources. The Spanish state owns 53% of the capital, while the remaining 47% is held by Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and the Development Bank of Latin America and the Caribbean (CAF).
