Santander acquires Tresmares Capital to boost growth in alternative asset management

Santander has obtained regulatory authorization to acquire 89.9% of Tresmares Capital, an alternative financing and private equity platform founded in 2020 that offers financial solutions to high-growth SMEs and private equity managers throughout Europe.

The acquisition of this platform is one of the pillars of the bank's growth strategy in alternative asset management, promoting private debt and funds of funds verticals.

Tresmares, which leads Spain’s private debt market, has offices in Madrid and London and has an ambitious international expansion plan. Over the next five years, it aims to reach more than €8 billion in investment commitments, with a focus on the growth of institutional funds. As part of this plan, Tresmares will open a new office in Germany in 2025 and another in Poland in 2026. In addition, it will launch new divisions of funds of funds and fund financing this year.

Tresmares Capital will remain independently managed and its current CEO, Borja Oyarzábal, will continue to lead the project, ensuring the continuity of the platform's approach and strategy. Tresmares already has a team of over 50 investment professionals and 20 tech-based employees, which backs its ability to offer quality products and manage expected growth. "Santander's confidence in the project is proof of the success of Tresmares' culture, which lies in both human capital and in management tools and technology, which are the foundations of our business," says Borja Oyarzábal.

With this acquisition, Santander reinforces its commitment to growth in the alternative asset sector, leveraging Santander Asset Management's global capabilities to build a solid and scalable franchise.