A&G

A&G was founded by a group of senior professionals who departed Spain's large financial institutions in 2001. The firm is privately held by its founding partners and senior executives. Day-to-day investment decisions for the private equity and hedge fund-of-funds programs are made by dedicated investment committees, though the firm does not publicly name a single CIO. The founding partners remain involved in strategic asset-allocation and manager-selection decisions.

A&G sources private equity and hedge-fund managers through its established network in European and North American markets. The firm's open-architecture model — made possible by its independence from any banking group — allows its investment teams to evaluate managers without product-shelf restrictions. For its private-equity fund-of-funds program, A&G targets established mid-market and upper-mid-market general partners.

A&G primarily operates through fund commitments. Its flagship private-equity program is a fund-of-funds strategy investing in mid-market and upper-mid-market buyout, growth, and venture funds across Europe and North America. The hedge-fund business similarly constructs portfolios of external managers. The firm also advises clients on direct real estate and liquid portfolios.

Within its private-equity fund-of-funds program, A&G targets buyout, growth-equity, and venture-capital strategies. The focus is on mid-market and upper-mid-market funds. Its hedge fund-of-funds program spans multiple strategies, including long-short equity, event-driven, and relative-value managers, reflecting a diversified approach to alternative investments.

A&G is independent, while the dominant Spanish private banks — Santander Private Banking, BBVA Patrimonios, CaixaBank Banca Privada — sit inside large banking groups. That independence lets A&G run a genuinely open-architecture platform, selecting external funds and managers without pressure to distribute in-house products. It also means the firm's partners' incentives are aligned purely with investment outcomes, not with balance-sheet or lending targets.

A&G is an asset manager and private-banking boutique, not a single-family office. It serves multiple clients — Spanish high-net-worth families, institutions, and pension funds. Its private-equity and hedge-fund programs are structured as fund-of-funds, pooling client capital to access managers that would otherwise be difficult for individual investors to diligence and commit to directly.

A&G is headquartered in Madrid, Spain. Its fund-of-funds programs invest across Europe and North America. The firm's client base is predominantly Spanish, drawn from the country's family-owned business wealth and institutional pools, though its investment reach is transatlantic.