Santander Acquires Majority Stake in Tresmares
Deal News | Mar 03, 2025 | Finance Community ES 2 - Corporate M&A
Spanish banking giant Santander has successfully gained the necessary regulatory approvals to acquire 89.9% of Tresmares Capital, a dynamic entity in alternative financing and private equity established in 2020. Tresmares will retain its independent management as its current CEO, Borja Oyarzabal, continues to lead the initiative, ensuring continuity in the platform's focus and strategic direction. This acquisition marks a significant step in Santander's strategic plan to grow its foothold in alternative asset management, expanding verticals in private debt and fund-of-funds sectors. Tresmares, with offices in Madrid and London, has ambitious plans for international growth, aiming to secure over EUR 8 billion in investment commitments within five years, primarily focusing on institutional funds. New offices in Germany and Poland are planned for 2025 and 2026 respectively. The addition of more professional staff and divisions will further fortify their capabilities, signaling a strong commitment to quality and anticipated growth.
Sectors
- Banking and Financial Services
- Private Equity and Venture Capital
Geography
- Spain – Santander is a Spanish bank and Tresmares Capital was founded with operations partly based in Madrid.
- United Kingdom – Tresmares Capital has an established office in London, indicating its operational presence in the UK.
Industry
- Banking and Financial Services – The acquisition is driven by Santander, a major global bank, expanding its services in asset management and private equity.
- Private Equity and Venture Capital – Tresmares Capital operates in the private equity sector, providing alternative financing solutions.
Financials
- 89.9% – The percentage of Tresmares Capital acquired by Santander.
- 8,000 million EUR – The investment commitments Tresmares aims to secure within five years.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Santander | Bidding Company | Company | A major Spanish multinational financial services company that has acquired a controlling stake in Tresmares Capital. |
| Tresmares Capital | Target Company | Company | An alternative financing and private equity platform founded in 2020, focusing on private debt and fund-of-funds. |
| Borja Oyarzabal | CEO of Tresmares Capital | Person | Current CEO of Tresmares Capital, continuing to manage the firm post-acquisition. |