In an in-depth conversation with BizPulse, the podcast hosted by Diego Subir\u00e1 and Ignacio Bonet, Qualitas Funds set out to bring private equity closer to university students and young professionals.<\/p>\n\n\n\n
Growing in offering, not in size<\/strong><\/p>\n\n\n\n Sergio looked back on the firm’s journey, from the early days of Qualitas Equity Partners more than two decades ago to the founding of Qualitas Funds alongside Eric Halverson, and explained why the firm has chosen to broaden its range of solutions rather than raise ever-larger vehicles: “Our goal has always been to have a sustainable strategy, and to achieve that, we specialized in the mid-market. Instead of growing in size, as many managers do, we have grown our product offering, always within this same segment.”<\/p>\n\n\n\n Today, that offering spans funds of funds, co-investments, NAV financing and secondaries, across Europe and the United States. Since 2025, Qualitas Funds has been part of Ridgepost Capital (formerly P10), a group listed on the New York Stock Exchange with more than $[50] billion in assets under management.<\/p>\n\n\n\n For Sergio, the difference lies in investment discipline: “The average multiples [enterprise value\/EBITDA] in our portfolio are between 7x and 8x, while the market is in double digits, between 11x and 15x. On leverage, we are between one and two times net debt\/EBITDA, whereas the market is between five and seven. If instead of leveraging five or seven times you leverage one or two, you are much better protected when a crisis hits.” These entry prices do not mean compromising on quality: “The typical company in our portfolio has an EBITDA margin of between 15% and 20% and grows at around 20% a year.”<\/p>\n\n\n\n