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Private Equity FundAllocates capital directlyActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 11 SOURCES

Tresmares Capital

Majority shareholder (89.9% since 2025) Banco Santander

Also known as Tresmares, TRESMARES PRIVATE EQUITY, S.G.E.I.C., S.A., TRESMARES DIRECT LENDING, SGEIC, S.A.

Madrid private credit and private equity platform, 89.9% owned by Santander since 2025, backing high-growth SMEs and private equity managers across Europe.

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

FOCUS

STAGES
Growth
SECTORS
—
ASSET MIX
Private equityPrivate creditFunds (as LP)
GEOGRAPHY
SpainPortugalUnited KingdomGermanyEurope

WHAT IT IS

Private Equity Fund. A fund manager investing limited-partner capital into mature private companies.

ABOUT

Tresmares Capital is a Madrid-based alternative financing and private equity platform. Santander's March 2025 release, announcing approval to acquire 89.9% of the firm, describes it as founded in 2020, leading the Spanish private debt market, serving both high-growth SMEs and private equity managers across Europe, with offices in Madrid and London, and planning to launch fund of funds and fund financing divisions in 2025. In April 2026 it took a minority stake in Greenkeeper, and the accompanying release cited more than €3,000M under management and a presence in Spain, Portugal, the United Kingdom and Germany.

PORTFOLIO (2)

  • Greenkeeper
    Industrial & Manufacturing · since 2026
  • Aranco
    Industrial & Manufacturing · since 2022

TEAM

  • Borja Oyarzábal
    Chairman and CEO (Tresmares Private Equity SGEIC) · source
  • Borja Pérez Arauna
    Director (Tresmares Private Equity SGEIC) · source
  • María Cayetana Lamelas Oliván
    Director (Tresmares Private Equity SGEIC) · source

LINKS

FAQ

Tresmares Capital is a private equity fund based in Madrid, Spain.

Yes. Tresmares Capital invests directly in private companies. It also commits capital to third-party funds as an LP.

Tresmares Capital invests at Growth stage.

Key people at Tresmares Capital include Borja Oyarzábal (Chairman and CEO (Tresmares Private Equity SGEIC)), Borja Pérez Arauna (Director (Tresmares Private Equity SGEIC)) and María Cayetana Lamelas Oliván (Director (Tresmares Private Equity SGEIC)).

Tresmares Capital's investments include Greenkeeper and Aranco.

The most recent publicly reported investment by Tresmares Capital is Greenkeeper (Minority stake), announced in Apr 2026.

Yes. Tresmares Capital manages capital from outside investors.