Santander and Grupo Atitlan have successfully completed a first closing of €300 million for ATGRO SCR, their agricultural investment vehicle registered in February with Spain’s stock market regulator (CNMV), thus confirming interest in the market for the primary sector as an alternative investment.
In its first month of operation, the fund managed by Santander Alternative Investments (SAI) and Elaia obtained investment commitments from domestic and international private investors, in addition to the initial support as anchor investors from Santander and Atitlan.
The goal is to reach €500 million in capital by the third quarter of 2025. ATGRO is currently in advanced discussions with several institutional investors interested in the project, classified under Article 8 of the sustainability regulations applicable to financial products, with a commitment to promote environmental and/or social initiatives within its portfolio.
To date, ATGRO has already made investments €125 million, equivalent to 25% of its target size, and is actively negotiating several opportunities in Europe and Latin America that would raise the investment figure to over €250 million.
It currently has two assets in its portfolio: an investment in pistachios, with more than 3,200 hectares in different stages of production in several parts of the Iberian Peninsula; and Ecosac, Peru's second-largest exporter of seedless table grapes, which has more than 2,000 hectares in production and a soil bank of 2,500 hectares.
About Banco Santander
Santander's participation in ATGRO is part of the strategy of the Investment Platforms Unit (IPU) and Santander Alternative Investments, both belonging to the Wealth Management and Insurance division, and specializing in investment in alternative growth segments to the bank's traditional activity, such as direct lending (Tresmares or LB Oprent), private equity (Fremman Capital), venture debt (Atempo), Special Situations Lending (Deva Capital) or venture capital (Seaya, Mouro Capital).
About ATGRO
ATGRO is a global agricultural investment platform, focused on long-term crops of nuts and superfruits in Europe, the Americas, Africa and Asia. As an agricultural project, it brings together sustainability objectives, long-term financial returns and good governance practices. The investment strategy is articulated around several differential aspects: management of economies of scale; diversification in crops and geographies; experience of the management team with an accredited track record; and technification of production processes.
About Atitlan
It is one of the most active private business groups in the Iberian Peninsula, where since its foundation in 2005 it has invested more than €1,500 million in different productive sectors. Its strategy is characterized by long-term investments in different sectors (agriculture, real estate, renewables, industrial/services and financial) where it has experience in creating value and generating positive social impact.
cloud technology axon
When we think about renewable energy, we tend to think about electr...
