Business · Companies · 3 hrs ago
ICG hires Ramón Arocena to lead its mid-market strategy in Spain and Portugal
ICG has hired Ramón Arocena to lead its mid-market investment strategy in Spain and Portugal.
Arocena was the number two at Advent International’s Madrid office and has nearly 20 years of experience in private equity.
He is due to join ICG in January and will lead the Spanish activity of its second European mid-market fund.
The fund raised €3 billion in March 2025, three times the amount raised by its predecessor.
It invests between €50 million and €250 million per deal, using equity, subordinated debt or both, and can take majority or minority stakes.
Arocena’s appointment puts an experienced investor in charge of the strategy, while ICG’s main strategy in Spain is led by Jaime Chocrón.
ICG has hired Ramón Arocena to lead its mid-market strategy in Spain and Portugal.
Arocena is currently a managing director at Advent International and was the number two at its Madrid office.
He is due to join ICG in January.
He will lead activity in Spain for ICG Europe Mid-Market Fund II, which raised €3 billion in March 2025.
The fund invests between €50 million and €250 million per deal.
- Who
- ICG has hired Ramón Arocena, a managing director at Advent International.
- What
- Arocena will lead ICG’s mid-market strategy in Spain and Portugal.
- When
- He is due to join ICG in January. The year is not stated.
- Where
- Spain and Portugal.
- Why
- ICG hired him to lead its mid-market strategy in the region.
This story does not have two clearly opposing sides.
Arocena joined Advent International.
He was a partner at Peninsula Capital.
He rejoined Advent International.
ICG Europe Mid-Market Fund II raised €3 billion.
Arocena is due to join ICG.
- Fund
- ICG Europe Mid-Market Fund II
- Fundraising
- €3 billion raised in March 2025
- Investment size
- €50 million to €250 million per deal
- Arocena’s career
- Nearly two decades in private equity
- Previous role
- Managing director at Advent International