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Bailey McCann, Opalesque New York:

José María Loizaga Viguri, who is credited with the establishing private equity in Spain has died from complications relating to Coronavirus, he was 84. At the time of his death, Loizaga was a vice president at Spanish construction giant ACS Group.

Loizaga had an extensive career in Spanish finance. He was the founder of Banco Hispano Industrial (BHA Group) and later became CEO of Banco Unión. In 1985, he founded Mercapital Servicios Financieros, the first Spanish private equity firm. Loizaga led the firm until 2008. The firm invested primarily in Spanish middle market companies, with a view to those companies growing internationally and particularly in Latin America.

During his tenure at Mercapital and on boards at other Spanish firms, Loizaga was a central figure in the growth of Spanish capitalism throughout the 1980s-2000s. Loizaga served on the boards of Banque Privée Edmond de Rothschild, Suez International, Otis International, AmorimInvestment, Lácteas García Baquero, and Unión Fenosa. Throughout his time with Mercapital, Loizaga also served on the board of ACS Group, eventually transitioning to ACS Group after naming his son Javier his successor at Mercapital.

Mercapital capital merged with N+1 to become N+1 Mercapital in 2012, creating Spain's largest private equity firm at the time. In 2016, the firm rebranded as Alantra - a global investment banking firm. Javier Loizaga went on to lead Spanish private equity fi......................

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