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Private Equity FundPuts its own capital into companiesLAST VERIFIED Oct 2026 · 16 SOURCES

Serena Industrial Partners

Also known as Serena Partners, Serena

Madrid-based infrastructure fund manager (founded 2019) investing in mid-market transport, water, energy-transition, social and digital projects in Europe; manages Serena Infra II (€250m target).

HEADQUARTERS
Madrid, Spain
FOUNDED
2019
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
7 people

Focus

STAGES
Growth
SECTORS
Mobility & LogisticsClimate & Energy
ASSET MIX
Private equity
GEOGRAPHY
Europe

Overview

Serena Industrial Partners was founded in 2019 by Joaquín Camacho Calderón, formerly Finance Director and Chief Controlling Officer at Sacyr. It invests in greenfield and yellowfield mid-market infrastructure with industrial partners such as Veolia, Mota-Engil, Vinci, Sacyr and Touax. Its fund Serena Infra II SCA SICAV-RAIF is a Luxembourg vehicle; in July 2025 the EIF committed €75m to it. Holdings include Lisbon’s 25 de Abril and Vasco da Gama bridges, the Douro Interior motorway, Hospital Lisbon Oriental, Navarra irrigation concessions and Barcelona water metering (Smartconta).

Investment thesis

Greenfield and yellowfield mid-market infrastructure in sustainable transport, water and environment, energy transition (biogas, biomass, energy efficiency), social and digital infrastructure across Europe, invested with industrial partners.

PORTFOLIO (11)

  • Boden water plant
    Climate & Energy · since 2026
  • Hospital Lisbon Oriental
    since 2024
  • Douro Interior motorway
    Mobility & Logistics · since 2024
  • 25 de Abril Bridge
    Mobility & Logistics · since 2024
  • Vasco da Gama Bridge
    Mobility & Logistics · since 2024
  • TXL (Havre intermodal containers, with Touax)
    Mobility & Logistics · since 2023
  • Smartconta
    Climate & Energy · since 2022
  • Aguas de Navarra
    Climate & Energy · since 2021
  • Aguacanal
    Climate & Energy · since 2021
  • Agua Chile Servicios Sanitarios
    Climate & Energy · since 2020
  • Altifiber
    Exited

People

  • Joaquín Camacho Calderón
    CEO and Founding Partner · source
  • Peter Antolik
    Deputy Chief Executive Officer · source
  • Diego Fernández Díaz
    Chief Operating Officer and Investment Director · source
  • Rafael Pérez Feito
    Asset Management and Investment Director · source
  • Manuel Villace Carballo
    Investment Director · source
  • Sergio Pardo Martín
    Country Manager – France · source
  • Bárbara Fernández Girón
    Investor Relations & ESG Vice-President · source

Links

Frequently asked questions

Serena Industrial Partners is a private equity fund based in Madrid, Spain, founded in 2019.

Yes. Serena Industrial Partners invests its own capital in private companies.

Serena Industrial Partners invests at Growth stage in Mobility & Logistics and Climate & Energy.

Serena Industrial Partners's stated ticket size is €25M–€30M.

Key people at Serena Industrial Partners include Joaquín Camacho Calderón (CEO and Founding Partner), Peter Antolik (Deputy Chief Executive Officer), Diego Fernández Díaz (Chief Operating Officer and Investment Director) and Rafael Pérez Feito (Asset Management and Investment Director).

Serena Industrial Partners's investments include Boden water plant, Hospital Lisbon Oriental, Douro Interior motorway, 25 de Abril Bridge, Vasco da Gama Bridge, TXL (Havre intermodal containers, with Touax), Smartconta and Aguas de Navarra, among others.

Yes. Serena Industrial Partners manages capital from outside investors.