Mutuactivos has launched Mutuafondo Hospitality, FCR, its first private equity vehicle focused on real estate, targeting hotel and leisure hospitality assets across Spain, Portugal, and Italy. The fund, backed by both Mutua Madrileña Group and Stoneweg, has a target size of €300 million.
Managed by Mutuactivos SGIIC, the fund will benefit from Stoneweg’s expertise as a strategic advisor, supporting deal sourcing, structuring, execution, and asset performance. The partnership combines Mutuactivos’ investment management capabilities with Stoneweg’s strong track record in alternative real assets, aiming to capitalize on opportunities in established Southern European tourist markets.
Mutuactivos and affiliates, the asset manager part of insurer Grupo Mutua Madrilena, manage over €19 billion in assets. According to Inverco data as of February 2026, it is the largest non‑bank‑owned asset manager in Spain by assets under management in mutual funds, reaffirming its leading position in the Spanish asset management industry.