Kobus Partners

What Kobus Partners does

Kobus Partners is a Spanish private investment management firm (legally KOBUS PARTNERS MANAGEMENT SGEIC, S.A., registered as a Sociedad Gestora de Entidades de Inversión Colectiva de tipo Cerrado) headquartered in Madrid, founded in 2016 by Pablo Guinot, Carlos García-Monzón and Pedro Diosdado. The firm specializes exclusively in renewable energy and energy infrastructure, managing a platform of six dedicated investment vehicles that channel private and institutional capital into photovoltaic and wind generation assets in Spain, Portugal and Italy. As of 2021 it reported approximately €500 million of assets under management across more than 30 executed transactions, distributed across four proprietary equity funds (Kobbus Renewable Energy I–IV, covering KRE I which was divested in 2019 through to KRE III/IV launched in 2020), one dedicated institutional mandate (Mapfre Energías Renovables I, €380M target) and one senior debt fund (Kobus Asset Finance I, €200M target, SICAV-RAIF in Luxembourg).

The firm operates a sales-led distribution model combining direct institutional sales, a captive channel through its 30% shareholder Renta 4 Gestora (Spanish investment bank, joined 2019), and bespoke fund mandates from large financial institutions. Recurring revenue is generated primarily through fund management fees on committed and deployed capital in FCR, SCR and SICAV-RAIF vehicles, supplemented by carried interest on realizations (target net IRR 10–12% to LPs over 6–10 year horizons, cited for KRE III) and co-investment gains from the firm's own equity participation alongside LPs. Underlying technology consists of a proprietary Kobus Sustainable Investment Evaluation Framework aligned with the EU Sustainable Taxonomy and SFDR Article 10 disclosures, covering pre-investment analysis, asset-type differentiation and ongoing monitoring, and producing quantitative ESG outputs (CO2, SO2/NOX reductions, renewable energy produced, SDG mapping).

The firm's customer base is institutional: insurance groups (Mapfre as anchor mandate for MER I), investment banks and private banks (Renta 4 as 30% shareholder and distribution partner; Macquarie as €100M Project Bond subscriber), and high-net-worth individuals via private banking channels. Strategic moves since 2019 — including the Renta 4 partnership, a fourth partner hire to lead a new Asset Finance area, geographic expansion into Italy, the launch of the KAF I debt vehicle and the Mapfre MER I mandate — signal a shift from a single-country PV-only manager toward a multi-vehicle Iberian renewable infrastructure platform spanning equity and debt.

Name

Kobus Partners

Legal name

KOBUS PARTNERS MANAGEMENT SGEIC, S.A.

Website

https://kobuspartners.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Kobus Partners is a Spanish SGEIC-licensed private investment manager (founded 2016) that runs a platform of six dedicated equity and debt funds channeling institutional and private capital into photovoltaic and wind renewable energy assets across Spain, Portugal and Italy, managing approximately €500 million in AUM.

Ownership category

akta.pro rank

Product category

Renewable Energy Private Equity Fund Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

ESG Reporting, Disclosure & Regulatory Compliance (SFDR, EU Taxonomy, TCFD/ISSB) (FSAAALAK)

Keywords

• Renewable energy investment
• Private equity funds
• Infrastructure fund management
• Sustainable investment vehicles
• Renewable energy financing

Headquarters

HQ city

Alcobendas

HQ country

Spain

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fund Management Fees (Equity vehicles): Recurring management fees earned from private equity / venture capital funds (FCR / SCR structures) including KRE I, KRE II, KRE III, KRE IV and MER I. AUM across these vehicles totals roughly €221M (KRE I €6M, KRE II €65M, KRE III €130M, KRE IV €20M, MER I €220M as referenced on Portfolio page).
2. Fund Management Fees (Debt vehicle): Recurring management fees from Kobus Asset Finance I (KAF I), a senior debt fund targeting €200M in size, focused on financing renewable energy project construction in Spain and Portugal. AUM currently referenced at €60M.
3. Carried Interest / Performance Fees: Performance-based economics from funds targeting 10-12% net annual returns for limited partners (cited for KRE III), with 6-10 year realization horizons, implying carried interest participation for the manager.
4. Co-investment / Proprietary Capital Gains: The firm invests its own equity in transactions alongside LPs (per Values page — "We are involved in each investment, taking a share in our own equity"), generating capital gains on successful realizations such as the 2019 divestment of KRE I.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Kobus Partners Management SGEIC, S.A. is a Spanish private equity management firm that creates and manages a platform of six dedicated investment vehicles focused on renewable energy and energy infrastructure assets in Spain, Portugal, and Italy. The platform comprises four Kobus Renewable Energy equity funds (KRE I–IV), one Mapfre-branded equity fund (MER I), and one senior debt fund (KAF I), collectively managing approximately €500 million in alternative investments through FCR, SCR, and SICAV-RAIF structures.

Product overview

Kobus Partners is not a software company but a Spanish private equity management firm (Kobus Partners Management SGEIC, S.A.) specialized in renewable energy and energy infrastructure investment. Its offering is a platform of six dedicated investment vehicles managed in parallel rather than a single unified product: four Kobus Renewable Energy equity funds (KRE I through KRE IV) covering operating PV/wind assets in Spain, Portugal and Italy; one Mapfre-branded equity fund (Mapfre Energías Renovables I, MER I) launched in 2021 and focused on Spanish renewable generation; and one senior debt vehicle (Kobus Asset Finance I, KAF I) launched in 2021 to finance construction of renewable projects. Together the platform manages roughly €500 million in alternative investments across equity and debt and has executed more than 30 transactions since inception in 2016, all channeled through the same investment management infrastructure (Kobus Partners Management SGEIC, S.A.) and supported by an in-house sustainable-investment evaluation framework aligned with the EU Sustainable Taxonomy.

Differentiator

Problem solved

Functional benefit

Brands

• Kobus Renewable Energy I (KRE I): First dedicated investment vehicle; Spanish limited company in 'club deal' format investing in renewable energy generation assets in Spain. Status: divested in 2019.
• Kobus Renewable Energy II (KRE II)
• Kobus Renewable Energy III (KRE III)
• Kobus Renewable Energy IV (KRE IV)
• Mapfre Energías Renovables I (MER I)
• Kobus Asset Finance I (KAF I)

Products and services

• Kobus Renewable Energy I (KRE I) Spanish limited company (club deal format) launched in 2016 dedicated to acquisition and active management of operational photovoltaic solar generation assets in Spain. Invested in 8 PV projects totalling 12.5 MW with a final size of €6M. Status: divested in 2019.
• Kobus Renewable Energy II (KRE II) Spanish private equity fund (FCR) launched in 2017, focused on acquisition and active management of operational PV solar generation parks in Spain under the RD 413/2014 regulated regime. Targets controlling stakes in medium-sized projects (€5-50M per asset), targeting minimum 6% average annual dividend. Final size €64.9M, 22 investments, 36.7 MW installed capacity. ISIN: ES0156571004. Custodian: BBVA.
• Kobus Renewable Energy III (KRE III) Spanish private equity fund (FCR) launched in 2020, investing in PV solar and wind projects in final stage of development, construction or operation across Spain, Portugal and Italy. Targets a portfolio of ~500 MW and €130M fund size. Targeting 10-12% net annual returns over 6-10 year realization horizon. Class ISINs: A1 ES0156547004, A2 ES0156547012, B1 ES0156547020, B2 ES0156547038.
• Kobus Renewable Energy IV (KRE IV) Spanish private equity company (SCR) launched in 2020, co-investing with KRE III in PV solar and wind generation, transformation or distribution assets in Spain, Italy and Portugal. Target size €20M, 7-10 investments, 500 MW installed capacity target. ISIN: ES0156539001. Auditor: PwC. Custodian: Cecabank.
• Mapfre Energías Renovables I (MER I) Spanish private equity fund (FCR) managed by Kobus Partners on behalf of Mapfre, focused on investment in renewable generation assets (PV solar and wind) in construction and operation in Spain. Targets medium-sized projects (€15-50M per asset). Target size €380M, 5-15 investments, 1,000 MW installed capacity target. ISIN: ES0160461002. Custodian: Caceis.
• Kobus Asset Finance I (KAF I) Senior debt fund (SICAV-RAIF domiciled in Luxembourg) launched in 2021, financing the construction of renewable power generation projects in Spain and Portugal via senior debt instruments. Targets medium-sized projects (€10-20M per asset). Target size €200M, 3-6 investments, 100 MW installed capacity target. Custodian: Quintet Private Bank.

Quantifiable outcome

• ~€500 million in AUM across six funds (equity and debt)
• +8 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature2 records

Scale indicators10 records

Recent moves11 records

Expansion highlights6 records

Broad incumbents

• Macquarie Asset Management (Green Investment Group): Global leader in renewable energy infrastructure investing through its Green Investment Group arm. Participated in Kobus's KRE II refinancing (€100M project bond). Sets the competitive benchmark and standard for institutional renewable infrastructure fund management.
• Brookfield Renewable Partners: One of the world's largest publicly-listed renewable energy platforms with global operations. Sets the cost-of-capital benchmark that sub-scale managers like Kobus must compete against for premium Iberian assets.

Direct peers

• Actis: Private equity firm dedicated to energy transition and sustainable infrastructure investing across emerging and developed markets. Operates comparable renewable energy fund vintages with similar institutional LP base and ESG-aligned investment thesis.
• Antin Infrastructure Partners: Listed European infrastructure private equity firm with significant renewable energy and energy transition investments across Europe. Comparable mid-market infrastructure fund structures targeting institutional investors with similar return profiles (10-12% net IRR targets).
• Energy Capital Partners: US-based private equity firm focused on power, energy transition, and sustainable infrastructure. Operates multiple fund vintages targeting renewable energy and conventional power assets; provides a comparable specialist alternative asset manager profile with similar fund structures.
• Everwood Capital: Spanish private equity firm with significant renewable energy and sustainable infrastructure focus. Direct domestic peer operating in Spain with comparable fund vintage structures and a similar mix of institutional and private banking LPs.
• Cubico Sustainable Investments: One of the world's largest renewable energy infrastructure investors with strong Iberian (Spain, Portugal) focus. Originated as a Santander/Cubico platform — the same institutional pedigree as Kobus co-founder Carlos García-Monzón. Operates comparable fund vehicles and competes directly for the same Spanish/Iberian renewable assets.
• Igneo Infrastructure Partners: Independent infrastructure equity fund manager with significant European and global renewable energy investments. Operates multiple fund vintages serving institutional LPs, with comparable fund structures and asset classes (renewable energy, energy transition infrastructure).
• Q-Energy (formerly Qualitas Equity Partners): European renewable energy private equity fund manager headquartered in Spain with substantial Iberian and broader European footprint. Manages multiple renewable energy fund vintages targeting similar asset types (PV solar, wind) and serves institutional/private banking clients — a directly comparable Iberian PE renewable platform.
• Aquila Capital: Hamburg-based European alternative asset manager with a dedicated renewable energy infrastructure investment platform. Manages comparable fund vehicles targeting European renewable assets and serves similar institutional and private banking client base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xtwitter.com/kobuspartners
• LinkedInlinkedin.com/company/kobus-partners

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kobus Partners