Key Takeaways
- • Santander has obtained regulatory authorization to acquire 89.9% of Tresmares Capital, an alternative financing and private equity platform founded in 2020.
- • Tresmares, which the bank describes as leading Spain's private debt market, targets more than €8 billion in investment commitments over the next five years, with a focus on institutional funds.
- • Tresmares will open an office in Germany in 2025 and in Poland in 2026, and will launch funds of funds and fund financing divisions this year.
- • CEO Borja Oyarzábal will continue to lead Tresmares, which will remain independently managed.
- • The deal is positioned as a pillar of Santander's growth strategy in alternative asset management, leveraging Santander Asset Management's global capabilities.
Summary
Santander has obtained regulatory authorization to acquire 89.9% of Tresmares Capital, according to the bank's announcement dated 3 March 2025. Tresmares is an alternative financing and private equity platform founded in 2020 that provides financial solutions to high-growth SMEs and private equity managers across Europe. The bank characterizes the acquisition as one of the pillars of its growth strategy in alternative asset management, with a particular emphasis on private debt and funds of funds verticals.
Tresmares, which the bank says leads Spain's private debt market, has offices in Madrid and London. The platform aims to reach more than €8 billion in investment commitments over the next five years, with a focus on growing institutional funds. As part of this plan, it will open a new office in Germany in 2025 and another in Poland in 2026. It will also launch new funds of funds and fund financing divisions during 2025.
Tresmares will remain independently managed, and CEO Borja Oyarzábal will continue to lead the platform to preserve its existing approach and strategy. The firm already employs more than 50 investment professionals and 20 technology-based staff, which the bank cites as support for its capacity to deliver products and manage expected growth. Oyarzábal attributed Santander's confidence in the project to Tresmares' culture, which he said rests on human capital, management tools and technology.
The acquisition is intended to strengthen Santander's commitment to alternative assets by drawing on the global capabilities of Santander Asset Management to build a scalable franchise.
Tresmares, which the bank says leads Spain's private debt market, has offices in Madrid and London. The platform aims to reach more than €8 billion in investment commitments over the next five years, with a focus on growing institutional funds. As part of this plan, it will open a new office in Germany in 2025 and another in Poland in 2026. It will also launch new funds of funds and fund financing divisions during 2025.
Tresmares will remain independently managed, and CEO Borja Oyarzábal will continue to lead the platform to preserve its existing approach and strategy. The firm already employs more than 50 investment professionals and 20 technology-based staff, which the bank cites as support for its capacity to deliver products and manage expected growth. Oyarzábal attributed Santander's confidence in the project to Tresmares' culture, which he said rests on human capital, management tools and technology.
The acquisition is intended to strengthen Santander's commitment to alternative assets by drawing on the global capabilities of Santander Asset Management to build a scalable franchise.
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