Preon Capital Partners is a major single family office from Geneva (Switzerland). On October 22, the investment firm announced that it acquired a 34% stake in Augustus Capital, a Spanish asset management firm which is managing the assets of an important Spanish businessman and his family.
Asset management firm for the Spanish Allierta Family
Augustus Capital is managing the Lierde Sicav, an equity fund which was set up to manage the wealth of the Allierta family. Cesar Allierta was the former president of the globally active telecommunications firm Telefonica. The Lierde fund has a broad investment focus, emphasizing investments in European companies. So far, the fund had an extraordinary average annual return in the amount of 15% (since its inception in 1994).
Joining forces with Geneva-based Preon single family office
Preon Capital Partners is the family office of Jari Ovaskainen, a successful Finnish entrepreneur. Ovaskainen sold his first company to Telefonica for €230M – which also might have played a role in acquiring a stake in Augustus Capital. In 2014, Ovaskainen invested in Advanced Accelerator Applications, which was acquired by Novartis in 2017 for €3.9B. Preon Capital Partners is also acting as an asset management firm with several active funds, amongst others investing in venture capital and stocks. By the investment in Augustus, Preon fuels its growth and secures access to new talents and strategic opportunities.
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