One of the oldest private equity houses in Spain has boosted its fundraising efforts by securing capital from an investor and selling off a portfolio of older assets, as the market for complex sales of second-hand fund stakes grows.

Madrid-based N+1 Private Equity said on November 12 that it has agreed to sell a stake of around 70% in a portfolio of assets it manages to France-based fund-of-funds manager Access Capital Partners. The buyer has also committed €35 million to N+1's new fund, which is seeking to raise €450 million.