Abac Capital, a private equity firm set up by former executives from Apax Partners in Spain, has held a €320 million final close on its first fund.

The buyout firm, which was set up in 2014 by three former Apax executives Oriel Pinya, Borja Martinez de la Rosa and Javier Rigau, alongside Saul Ruiz de Marcos, a former partner at Thesan Capital, is the only firm to have raised a fund focused exclusively on investing in Spain so far in 2016, according to Preqin.