Dunas Capital Group celebrates its tenth anniversary after consolidating its position as one of the leading independent asset management platforms in Spain, with more than €5.3 billion in assets under management. The firm has achieved this milestone thanks to a diversified investment model that combines liquid strategies, alternatives, and real estate, based on prudent management, capital preservation, and long-term value creation.
In 2025 alone, Dunas Capital Asset Management (DCAM) increased its assets by €1.314 billion, representing a 37% year-on-year growth. Liquid products exceeded €4.884 billion, while total group assets surpassed €5 billion when including alternative assets. The Dunas Valor range, expanded with the launch of Dunas Valor Audaz, closed the year with positive returns and assets under management exceeding €500 million per vehicle.
In terms of positioning, during the past year the firm ranked 10th among Spanish asset managers by net subscriptions in 2025, out of more than 100 firms, and placed in the top decile globally. It remained the leading independent asset manager in terms of inflows for another year. By asset volume, DCAM continues to rank among the top 20 national asset managers (16th position) and is on the podium among independent firms.
Strategic evolution and international expansion.
At the end of 2025, the Group strengthened its platform with the creation of Dunas Capital Alternatives (DCA), a management company specialized in alternative assets, complementing DCAM’s activity (focused on liquid strategies) under the same capital preservation philosophy. For this year, DCA is already working on the launch of two new funds, Dunas Aviation II and a strategic infrastructure fund, thereby continuing the group’s strategy and reinforcing its positioning in the alternative investment segment, which provides diversification from financial markets and protection against inflation.
Additionally, the firm has registered its funds in Portugal, boosting the development of the asset manager in the Iberian market and expanding its distribution capabilities for both liquid strategies and alternative assets.
In parallel, the Group has strengthened its different business areas. Notably, it launched Dunas Capital Debt, a new unit specialized in financing advisory and debt management, led by José María Sagardoy. In the logistics real estate area, Dunas Capital Real Estate has established the Compensation Board for the “Alma Meco” project, a decisive milestone for the development of what is already the largest logistics land bank in the Community of Madrid. With this, the firm reinforces its positioning as one of the leading logistics land managers in Spain.
New corporate identity and website.
Coinciding with its tenth anniversary, Dunas Capital is introducing a renewed corporate identity and a new website, marking the beginning of a new phase of expansion and growth as a leading independent asset manager. The new visual identity reinforces the firm’s values—solidity, experience, flexibility, and innovation—and projects a more contemporary image aligned with its long-term strategy. Meanwhile, the new website has been designed to offer a clearer, more intuitive, and accessible experience for investors and clients, facilitating access to detailed information about the group’s different business areas, products, and capabilities.
David Ángulo, Chairman of Dunas Capital, stated: “Over this decade, we have built a solid, diversified, and independent investment platform, with a top-tier team of more than 70 professionals, always with the same goal: to protect and grow our clients’ assets. Reaching ten years is not only an opportunity to take stock, but also to reaffirm our long-term ambition. We are now entering a new phase with the objective of continuing to grow sustainably, with greater capabilities, broader reach, and the same conviction with which we started.”
About Dunas Capital Group.
Dunas Capital Group is a leading independent platform in Spain for the management of financial, real estate, and alternative assets, with more than €5.3 billion in assets under management. The group offers investment solutions through products with a high degree of innovation and excellence. Its team is composed of more than 70 professionals with extensive experience in financial markets, banking, insurance, private equity, and asset management.
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