Santander has announced its acquisition of 89.9% of Tresmares Capital, following regulatory approval. Tresmares Capital, founded in 2020, is a platform offering financial solutions to high-growth small and medium-sized enterprises (SMEs) and private equity managers across Europe.
The acquisition aligns with Santander's strategy to expand in alternative asset management, particularly focusing on private debt and funds of funds. Tresmares leads the private debt market in Spain and has plans for international expansion. Over the next five years, it aims to secure more than €8 billion in investment commitments, targeting growth within institutional funds. As part of this plan, new offices will open in Germany in 2025 and Poland in 2026. Additionally, Tresmares intends to launch new divisions focused on funds of funds and fund financing this year.
Tresmares Capital will maintain its independent management structure under the leadership of CEO Borja Oyarzábal. "The platform's CEO, Borja Oyarzábal, will continue to lead the project," ensuring continuity in its strategic approach. The team at Tresmares comprises over 50 investment professionals and 20 tech-based employees, supporting its capability to manage anticipated growth effectively.
With this acquisition, Santander strengthens its commitment to expanding within the alternative asset sector by utilizing Santander Asset Management's global capabilities to establish a robust franchise.