Andorran bank Andbank announces the launch of a new investment fund aimed at strengthening its commitment to the hotel industry. Following Atalaya, launched in 2020 alongside Navis Capital and THB Hotels, through which the bank invested €120 million, it is deploying a new vehicle, Actyus Hospitality Fund II, which, according to the notification filed with Spain’s Comisión Nacional del Mercado de Valores (CNMV), targets a €200 million investment, split between equity and debt, in some of Spain’s leading tourist destinations.
The fund aims to acquire between five and six three- and four-star hotels, in locations such as the Balearic Islands, the Canary Islands or the Costa del Sol, in Málaga, for a combined capacity approaching 1,000 rooms. Max Hap, Head of Hotel Investment at Andbank, outlined these plans in the pages of El Confidencial.
The new fund aims to raise up to €100 million, for a total investment of €200 million between equity and debt. It will be managed by Actyus Private Equity, the alternative investment arm of the Andorran banking group, with Banco Inversis as depositary and Deloitte as auditor. The vehicle is aimed at high-net-worth individuals and private banking clients, with a minimum investment ticket set at €250,000 for Andbank clients, and €10,000 for MyInvestor clients, subject to a personalised recommendation from an authorised intermediary and financial assets not exceeding €500,000.
The launch comes after the first divestment made by the Atalaya fund, announced on 6 May with the sale of the Hotel San Fermín, in Benalmádena, to hotel group Dorobe. The property, which underwent several full renovations over five decades, is considered a key part of the Costa del Sol’s tourism development.
Actyus Hospitality Fund II adds to the broader offering of the Andbank group’s asset management arm. On the real estate side, the firm launched the Promourbanitae II vehicle in late 2023 alongside Urbanitae, dedicated to real estate projects led by qualified operators in Spain. Its recent transactions also include the IPO, alongside Colonial, of the Naturgy headquarters, on Avenida de América in Madrid, listed on BME Scaleup on 12 June for an estimated value of €49 million.
At a Glance
Actyus Hospitality Fund II — Andbank – Target investment: €200M (equity + debt), fund seeking to raise up to €100M – Target assets: 5-6 hotels, 3-4 star category, ~1,000 rooms combined – Target regions: Balearic Islands, Canary Islands, Costa del Sol (Málaga) – Manager: Actyus Private Equity (Andbank group) – Depositary: Banco Inversis; Auditor: Deloitte – Minimum ticket: €250,000 (Andbank clients), €10,000 (MyInvestor clients, conditions apply) – Predecessor fund: Atalaya (2020, with Navis Capital & THB Hotels), €120M invested; first divestment: Hotel San Fermín (Benalmádena) sold to Dorobe, May 2026
