Mirazur Capital Buys Its First Marina Outside the Mediterranean

What did Mirazur Capital just buy?

Mirazur Capital, the Monaco-based fund that took majority control of Marina Port Vell in Barcelona in June 2026, has bought Biras Marina in the British Virgin Islands, its first deal outside the Mediterranean and the first test of whether the Barcelona model travels.

Marina Port Vell announced the Biras deal on 24 September 2026, the first acquisition since Mirazur Marinas Fund SCA took a 52 percent stake in the Barcelona marina. General manager Ignacio Erroz called it "a milestone for Marina Port Vell and a recognition of the work carried out over recent years", while Mirazur managing partner Marcos Pellejero Ibanez described the addition as "a major step forward in our growth strategy." Financial terms of the Biras purchase itself were not disclosed, unlike the Barcelona deal three months earlier, where both a reported price and the seller's own valuation reached the trade press.

Biras Marina sits in North Sound on Virgin Gorda, part of the British Virgin Islands, inside the Biras Creek Resort complex, a short sail from the Bitter End Yacht Club, one of the BVI's longest-established sailing anchorages. It offers 25 berths for yachts up to 70 metres plus 20 mooring buoys, with water, electricity, internet, boat cleaning and catering laid on for owners and crew, alongside the resort's own restaurants, Ikigai and The Mangrove, a multi-brand boutique and a helipad. It is a fraction of Barcelona's scale, but it is Mirazur's first foothold on a coast most of its Mediterranean clients already cruise to each winter, and the first time Marina Port Vell has put its own name on a facility it does not run at home.

Why did an investment fund buy a decades-old Barcelona marina in the first place?

Mirazur paid an estimated EUR 40 to 50 million for 52 percent of a marina that QInvest, the outgoing Qatari owner of a decade, had valued near EUR 90 million, buying a 400-metre superyacht quay in the centre of Barcelona that cannot be rebuilt anywhere else.

Marina Port Vell runs 73 berths for yachts up to 190 metres along that quay, one of the longest dedicated superyacht berths in the western Mediterranean, with a helicopter-transfer agreement to Barcelona's port heliport and more than EUR 20 million spent on the facility since 2021, most of it aimed at large-vessel capacity and sustainability upgrades rather than cosmetics. QInvest, the Qatari investment bank, had held the majority stake for roughly ten years before selling to Mirazur in an off-market deal, meaning it was negotiated directly rather than shopped to competing bidders, and closed at a meaningful discount to QInvest's own valuation of the asset. Trade press covering the sale put the price paid for the 52 percent stake at roughly half of what QInvest itself had the marina valued at only months earlier.

Pellejero framed the purchase as access to "a truly irreplaceable asset: a unique location in the heart of Barcelona", and said the fund's aim was to "raise industry standards" and turn premium marinas into "an institutional asset class" in their own right. Erroz and the existing management team stayed on, which is the detail that matters most to an owner already berthed there: the day-to-day service and the staff running it did not change hands, only the balance sheet and the capital behind future investment.

Why is private capital buying superyacht marinas at all?

A waterfront berth long enough and deep enough for a modern superyacht cannot be created by planning permission alone, and that scarcity is exactly what draws a fund built to hold irreplaceable, income-producing real assets.

Mirazur Capital is a Monaco-headquartered manager with offices in Madrid and Luxembourg and more than EUR 1 billion under management across public and private markets; Marina Port Vell is its platform acquisition into the sector, not a one-off. Its publicly stated mandate is to buy and build a portfolio of superyacht marinas and, separately, shipyards across the Mediterranean, and Barcelona to the British Virgin Islands in three months is the first evidence of how far outside that home region the search is already running.

The fleet the fund is chasing has grown faster than the berths built to hold it: yards keep delivering longer yachts, and a 190-metre-capable quay in a first-tier city, or a 70-metre marina inside a protected sound, is not something a competitor can simply build next door regardless of how much capital it raises. That is the same logic that draws infrastructure funds to airports and toll roads, applied here to a stretch of Mediterranean quay and, now, a Caribbean sound with its own resort attached.

What does an owner actually get differently at a fund-owned marina?

In the near term, very little changes at either property, because both retained their existing management; what a fund ownership structure buys an owner over time is a shared service standard across ports that would otherwise have nothing in common.

Biras gives Mirazur's clients a curated, full-service Caribbean node with resort dining, a boutique and a helipad on site, sized for the great majority of the fleet that winters in the BVI at up to 70 metres, on a body of water, North Sound, that has been a superyacht anchorage for decades regardless of who owns the marina buildings ashore. An owner who already knows Marina Port Vell's standard of service in Barcelona now has a Caribbean address that, on paper, answers to the same ownership.

Set against that: it is one 25-berth marina, three months into a two-property portfolio, not yet a network in any useful sense, and there is no repair or refit yard on site at either property, so a mechanical problem in the BVI or in Barcelona still means a passage to a yard elsewhere for anything beyond routine maintenance. An owner should treat this as an early signal of where Mirazur wants to be, not as a finished cruising itinerary.

What should an owner watch for next from this deal?

The next test is whether Mirazur adds further nodes on both sides of the Atlantic at the pace this one implies, and whether berth pricing at its two properties starts to diverge from independently owned marinas nearby as the fund pursues the margins that justify calling marinas an asset class.

Pellejero's own language, an institutional asset class, is the tell: funds that use that phrase in public are telling their own investors they intend to keep buying in the category, not that they have finished shopping. The Mediterranean buy-and-build mandate Mirazur has stated publicly points at further acquisitions among the region's premium marinas and shipyards before it points back across the Atlantic toward a second Caribbean or American site.

For now, an owner planning next winter's cruising ground gains one more full-service option in the BVI and no immediate change in Barcelona beyond who is on the other end of the invoice. The number worth tracking a year from now is how many marinas carry the Mirazur name, and whether that count is still one Mediterranean flagship and one Caribbean outpost, or the start of the network the fund says it is building.