Grupo Santander is launching a new alternatives asset manager to step up its commitment to this business.
Santander Asset Management (SAM) currently manages 22 alternative investments vehicles, with over 2 billion euros committed globally and strategies such as trade finance, direct lending, infrastructure and renewable energy.
Luis García-Izquierdo will be the CEO.
Madrid, 15 May 2023.
Santander Asset Management is launching a new alternatives asset manager after receiving authorization from Spain’s CNMV*. This is the final stage of a process that Banco Santander began in late 2019 when it created an alternative investments business, leveraging its investment expertise and global distribution reach.
Santander Asset Management (SAM) currently manages 22 vehicles in alternative investments, with over 2 billion euros committed globally. It offers six investment strategies focusing on trade finance, direct lending, infrastructure and renewable energy, real estate, VC climate tech, and third-party funds of funds. The Santander Alternative Leasing fund was one of Spain’s top three best performing alternative investments funds in 2022.
Santander Asset Management will also leverage the expertise of Santander Corporate & Investment Banking, a leader in infrastructure debt origination, trade finance and corporate lending, to deliver a unique proposition for institutional investors such as pension funds, insurers, sovereign funds, corporations, family offices and private banking clients.
Luis García-Izquierdo will be the CEO of the new firm, while Borja Díaz-Llanos will continue as CIO. Since creating its alternative investments business, Santander Asset Management has been adding more talent, with 21 new professionals joining the team in the last year alone, bringing the total number to 42.
“We are expanding our alternative assets offering as part of our goal of helping clients achieve their investment objectives. This is an important milestone in making SAM a more comprehensive asset manager while leveraging the synergies generated across Santander group”, said Samantha Ricciardi, CEO of Santander Asset Management.
“The new asset management firm will enable us to meet the needs of investors who wish to add alternative assets to their portfolios to complement traditional ones. In the current context of high inflation and market uncertainty, alternative investments help reduce overall risk and maximize returns over the long term. With institutional and individual investors yet to fully tap into private markets, there’s a clear opportunity to grow. The new alternatives firm enables us to offer clients a comprehensive and diverse value proposition”, said Luis García-Izquierdo.