Banco Santander has obtained regulatory authorisation to acquire an 89.9% stake in Tresmares Capital, a Madrid-based alternative investment manager focused on lending to small and medium-sized enterprises, the bank said on 3 March 2025. Tresmares manages about EUR 3.2 billion in investment commitments and aims to reach more than EUR 8 billion within five years.
Santander said the acquisition is one of the pillars of its growth strategy in alternative asset management, promoting private debt and funds of funds.
ABOUT TRESMARES
Tresmares Capital, founded in 2020, is an alternative financing and private equity platform serving high-growth SMEs and private equity managers across Europe, and plans to launch fund-of-funds and fund-financing divisions in 2025.
Santander backed Tresmares's launch as an independent SME financing platform in December 2019.
The 89.9% stake leaves the remaining 10.1% with other shareholders. The precise terms of any earn-out or management incentive arrangements were not disclosed in the announcement.
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