Santander secures approval to acquire Tresmares Capital

Founded in 2020, Tresmares provides financial solutions for high-growth small and medium-sized enterprises (SMEs) and private equity managers across Europe. Tresmares is an important presence in Spain’s private debt market, with offices in Madrid and London. The company is pursuing an international expansion strategy, targeting over EUR 8 billion in investment commitments within the next five years, with an emphasis on institutional funds.  

As part of this strategy, Tresmares plans to open an office in Germany in 2025, followed by another in Poland in 2026. Additionally, the firm intends to launch new divisions focusing on fund-of-funds and fund financing later this year. 

Despite the acquisition, Tresmares Capital will continue to operate independently. A representative from Tresmares stated that the leadership structure would remain unchanged, ensuring the continuity of the company’s strategic direction. According to Santander, the firm currently employs more than 50 investment professionals and 20 technology specialists, supporting its growth initiatives. 

Santander's decision to acquire Tresmares aligns with its wider strategy of expanding in the alternative asset management sector. A representative from Santander noted that this move strengthens the bank’s position in private debt and fund-of-funds management, leveraging the capabilities of Santander Asset Management to build a scalable franchise.

What else has Santander been up to? 

In December 2024, CloudPay, a global provider of payroll solutions, partnered with Banco Santander to introduce on-demand pay services across Spain. This collaboration leveraged CloudPay NOW, a digital pay-on-demand platform, allowing employees of Santander’s SME clients and larger businesses to access earned wages at any time, improving financial flexibility and wellness. 

The partnership broadened the availability of on-demand pay, traditionally offered by larger enterprises, to businesses of all sizes. This initiative reflected the rising demand for financial wellness solutions, providing employees with real-time access to their earnings.