Julian Carreras
Partner
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- Full Name
- Julian Carreras
- Title
- Partner
- Firm
- Palamon Capital Partners
- Firm Type
- Growth-capital private equity (mid-market) — *not* an angel investor
- Investment Stage
- Growth equity / lower-mid-market buyouts (not seed)
- Check Size
- ~€30–100 million per deal (Palamon has invested €100m+ in single transactions, e.g. FairConnect)
- Target Company Profile
- Asset-light, service-oriented European businesses with recurring revenues, strong unit economics, and platform/consolidation potential
- Sector Focus
- Tech-enabled financial services, business services, healthcare services, and consumer/education
- Geographic Focus
- Pan-European, with particular personal focus on continental Europe — Spain and Italy
- Location
- London, United Kingdom (with deep Spanish/Italian coverage)
Background
Julian Carreras is a Partner at Palamon Capital Partners, a London-based pan-European growth private equity firm. A Spanish national from Madrid, he first joined Palamon between 2003 and 2006, then rejoined the firm in October 2011 as a Principal. He was elected to the partnership in January 2014. Palamon described his return as "an endorsement of the strength of Palamon's growth investing proposition," reflecting both his private equity experience and his regional expertise in Southern Europe.
Before his private equity career, Carreras worked at McKinsey & Co. and then at Goldman Sachs, from which he first joined Palamon. During his 2006–2011 period away from the firm, he held positions with Cinven in London and with Thesan Capital in Madrid, broadening his continental European deal experience.
Carreras is unusually credentialed academically. He holds MSc degrees from the Polytechnic University of Milan, École Centrale Paris, and the Polytechnic University of Madrid, and earned an MBA from Harvard Business School, where he attended as a Fulbright Scholar. He is a Spanish national fluent in English, French, and Italian, with working Portuguese — a language range that maps directly onto Palamon's Southern-European deal focus.
Within Palamon, he has consistently helped execute the firm's investment strategy across continental Europe, especially Spain and Italy. He has served on the boards of Palamon portfolio companies including SARquavitae (Spain's largest elderly-care provider, where he also sat on the Executive Committee), EnGrande in Spain, Sigla in Italy, and QualitySolicitors in the UK.
Investment Thesis & Focus
- Invests through Palamon's growth-capital strategy: equity for European, asset-light, service-based companies with high growth potential — not seed or angel investing.
- Targets four service verticals: financial services (non-bank financing, payments, loyalty), business services (technology and analytics providers), healthcare (specialist-care consolidation platforms), and consumer/education.
- Looks for businesses with recurring revenues and strong unit economics that can be scaled or used as consolidation platforms — Palamon states it seeks companies that "help other businesses deliver value through technology and analytics, while generating recurring revenues and superb unit economics."
- Backs "hyper-growth" thematic bets: on the FairConnect deal Carreras said, *"Connected insurance is a hyper-growth sector that has reached an inflection point in adoption."*
- Personally anchors the firm's Spain and Italy coverage; deals he has been associated with cluster in Southern Europe (SARquavitae, EnGrande, Sigla, FairConnect).
Notable Investments
- SARquavitae (Spain) — Spain's largest elderly-care provider; Palamon built it into a leading platform (revenues grown from €127m to €330m+, EBITDA more than tripled) and sold it in February 2017 for ~€550m (operating business to GeriaVi/DomusVi/PAI; property to Eurosic Lagune), generating a 3.0x return. Carreras sat on the board and Executive Committee.
- FairConnect (Switzerland/Italy) — Connected/usage-based motor insurance and IoT telematics provider; Palamon acquired a majority stake in 2018 with €100m+ invested. Carreras commented publicly as the deal partner.
- Sigla (Italy) — Italian consumer-finance/credit business; Palamon portfolio company on whose board Carreras served.
- EnGrande (Spain) — Palamon portfolio company on whose board Carreras served.
- QualitySolicitors (UK) — UK legal-services network/consolidator; Palamon portfolio company with Carreras on the board.
- *(Firm-level exit for context)* Towry (UK) — Wealth manager sold by Palamon to Tilney Bestinvest in 2016 for £600m at ~12.5x MoC / 26% IRR, illustrating the firm's growth-consolidation model.
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