Co-investment fund program
We invest in lower mid-market companies alongside specialized managers
Vehicle
Private equity co-investment fund structure through FCR and SCR vehicles
Geographic focus
Target portfolio
- 25-30 companies
Optimal diversification
- 15 countries
- 6 currencies
- 5 vintages
- Different strategies and sectors
Market segment
Lower mid-market: leading, profitable and growing SMEs
Capital efficiency
We analyse key factors to select unique co-investment opportunities
Learn about the type of companies we invest inEach of our funds invests in 25-30 companies, operating in different sectors, in Europe and North America
Communication
Consumer goods
Finance
Industrials & material
Information & technology
Healthcare
Perfil de flujos de caja y funcionamiento del fondo

Qualitas Funds Direct III
Hard cap: €200MM
Vintage: 2026
Status: open to investors
Documents for download
Qualitas Funds Direct II – PRIIPs
Qualitas Funds' News
Qualitas Funds once again attends IPEM Cannes 2026, Europe’s leading private equity event
Bernardo Marques dos Santos, partner at Qualitas Funds, João Pita Rua, investment director, and Helena Palacios, investment associate, attended the International Private Equity Market (IPEM) in Cannes last week, one of Europe’s leading private equity events.
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Operating in a high-valuation private equity market
After two years of market correction, 2024 delivered the first clear signs of renewed momentum in private equity. According to Bain & Company’s (“Bain”) Global Private Equity Report 2025, global buyout investment value increased by 37% year over year, while exit value rose by 34%. Yet this recovery remains uneven and continues to be shaped…
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Qualitas Funds offsite in Andorra: kicking off 2026 with energy and clear goals
Qualitas Funds began the year with an offsite in Soldeu, Andorra, in mid-January. The days were designed to reinforce the company’s values, share the main challenges, and set priorities for the new year.
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