Macrocapitales

The firm relies heavily on Bustamante's network and the investment team's direct outreach to family-owned businesses. Most target companies have never been institutionally owned, so deals originate through proprietary introductions rather than formal auctions. The firm's two-decade track record in Lima means accounting firms, law firms and local banks frequently refer succession-driven or growth-seeking founders to Macrocapitales before a competitive process begins.

Macrocapitales typically writes equity cheques of $1–5 million for majority or significant minority stakes. The firm targets profitable businesses with $2–15 million in revenue that need governance and expansion capital. Post-close, it installs professional management and reporting systems aligned with the standards regional strategic acquirers expect.

Macrocapitales is an independent, third-party private equity manager. Unlike most Peruvian private capital groups — which are tied to single-family balance sheets like the Brescia, Romero or Hochschild groups — Macrocapitales raises blind-pool commitments from institutional limited partners and invests in unrelated, independently governed portfolio companies.

Macrocapitales has historically avoided natural resources, mining and commodity-linked industries, which dominate Peruvian GDP but introduce volatility the firm's limited partners do not seek. The firm's four target sectors — financial services, consumer, healthcare and education — are domestic-demand-driven and track the growth of Peru's middle class.

The firm holds portfolio companies for 4–7 years, then exits to Peruvian conglomerates, Andean-region strategic buyers or occasionally financial sponsors. The March 2024 exit of a healthcare services platform to a regional strategic buyer is the most recent example of a pattern the firm has repeated across two decades (per public filings, March 2024).

In Peru's lower middle market, Macrocapitales competes principally with Enfoca, AC Capitales and occasionally family offices deploying directly. Global firms rarely write sub-$5 million equity cheques in Peru, creating a structural barrier that keeps the competitive set small. For larger deals, the firm occasionally sees interest from regional Andean funds or multilaterals.

Macrocapitales installs independent board members, formal financial reporting, audited statements and management incentive plans tied to EBITDA growth. The governance package is designed to make founder-led businesses look like institutional-ready assets — a requirement when the ultimate buyer is a publicly listed Peruvian conglomerate or a regional strategic.