Santander buys majority stake in Spanish alternative asset manager Tresmares Capital
Banco Santander has secured regulatory approval to acquire 89.9% of Tresmares Capital, a Spanish alternative financing and private equity platform, for an undisclosed sum.
Tresmares Capital plans to open a new German office this year
The Spanish banking giant says the purchase is “one of the pillars” of its “growth strategy in alternative asset management”, with the bank particularly focusing on “private debt and funds of funds verticals”.
Founded in 2020 and headquartered in Madrid, Tresmares offers an array of asset management solutions to private equity managers and high-growth small and medium-sized enterprises (SMEs). It currently employs over 50 investment professionals and 20 tech-focused staff.
Post-acquisition, Santander states that Tresmares aims to expand its current €3.2 billion in investment commitments to €8 billion “over the next five years”, with a focus on growing its institutional funds.
In addition, the alternative asset manager, which has operations in Spain, Portugal, and the UK, intends to open a new office in Germany this year, followed by another in Poland in 2026, while also launching new divisions focused on fund financing.
Borja Oyarzábal, Tresmares’ co-founder and CEO, is set to continue leading the company, which will “remain independently managed”, according to Santander.
