Key Takeaways
- • Banca March has launched March PE Global IV, a fund of funds targeting €300 million, with the Spanish group committing 20% (roughly €60 million) of the capital.
- • The fund invests entirely in international private equity managers with a focus on the US and Europe, backing middle-market managers across technology, health, services, and energy transition.
- • Investors can finance up to 50% of their capital calls, and fees apply only to capital actually disbursed during the portfolio-construction phase.
- • The launch continues a program started in 2020; its three prior editions raised more than €960 million and now hold 39 underlying funds with stakes in over 400 private companies.
- • The fund arrives as European private-equity fundraising remains subdued, with about €39 billion raised in the first half of 2026 amid a tough exit environment.
Summary
Banca March has launched March PE Global IV, a fund of funds targeting €300 million, according to the original report published by Dealroom. The Spanish group is committing 20% of the vehicle, roughly €60 million. The fund is managed through March Private Equity and invests entirely in international managers, with a focus on the United States and Europe.
The strategy centres on middle-market managers across technology, health, services, and energy transition. Investor terms include the ability to finance up to 50% of capital calls, and fees are charged only on capital actually disbursed during the portfolio-construction phase. Banca March positions co-investment as a core element of its approach. Manuel Travesedo, general manager of March Private Equity, said the bank has spent more than 20 years inviting clients to invest in the same products and on the same terms as the bank's shareholders (translated from Spanish).
The launch continues a program Banca March began in 2020. Its three previous editions raised more than €960 million and now hold 39 underlying funds with stakes in over 400 private companies. The new vehicle is modest in size relative to large institutional funds.
The timing reflects a subdued fundraising backdrop. European private-equity fundraising totalled about €39 billion in the first half of 2026, amid a difficult exit environment. The fund therefore represents a steady continuation of Banca March's program rather than a sign of market recovery, with its differentiation resting on co-investment terms and its middle-market focus.
The strategy centres on middle-market managers across technology, health, services, and energy transition. Investor terms include the ability to finance up to 50% of capital calls, and fees are charged only on capital actually disbursed during the portfolio-construction phase. Banca March positions co-investment as a core element of its approach. Manuel Travesedo, general manager of March Private Equity, said the bank has spent more than 20 years inviting clients to invest in the same products and on the same terms as the bank's shareholders (translated from Spanish).
The launch continues a program Banca March began in 2020. Its three previous editions raised more than €960 million and now hold 39 underlying funds with stakes in over 400 private companies. The new vehicle is modest in size relative to large institutional funds.
The timing reflects a subdued fundraising backdrop. European private-equity fundraising totalled about €39 billion in the first half of 2026, amid a difficult exit environment. The fund therefore represents a steady continuation of Banca March's program rather than a sign of market recovery, with its differentiation resting on co-investment terms and its middle-market focus.
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