Tresmares Capital, a Spanish independent private capital fund manager, has launched a new evergreen fund with £725 million in committed capital, and a new office in London, which will be headed up by Philippe Arbour, as CEO and Managing Partner.
Expansion into the UK offers a large target market comprising some 25,000 high-growth SMEs supported by a strong community of financial sponsors. Tresmares manages several private capital mandates including direct debt and equity investments into SMEs and its new UK operation has the capacity to write cheques between £10-50 million from its dedicated evergreen fund with the capacity for larger deals of up to £70 million for multi-product transactions including bridges to capital calls or equity syndication, and/or preferred equity investments.
Tresmares Capital was originally established in Spain in 2020, in recognition that the market for growth capital was under-served. Its founding partners established the business as a one-stop-shop for private capital in support of growing SMEs. It quickly became one of the largest independent private capital fund managers in Iberia, with capital commitments of €2.4 billion, and has the backing of Santander, as its largest Limited Partner.
Tresmares’ approach is sector agnostic, targeting growing businesses, typically with an EBITDA in the range of £2-10m. Tresmares Capital UK will provide a suite of products ranging across direct lending, senior and junior, and bridges to capital calls or equity syndication. It can also provide preferred equity or co-investment alongside entrepreneurs, management teams and private equity owners. As the fund does not undertake majority buyouts, it does not compete with its private equity clients.
