Tresmares registers its new €75 million fund of funds to boost the European mid-market

Tresmares Private Equity, S.G.E.I.C., S.A. has registered the prospectus for its new private equity fund, Tresmares European Mid-Market Managers 2025, F.C.R., with the Spanish National Securities Market Commission (CNMV). This investment vehicle is focused on private equity funds targeting the European mid-market segment.

The fund has a target size of €75 million in total commitments and is aimed at professional and institutional investors seeking access to a diversified portfolio of European private equity funds and co-investment strategies.

Investment strategy and fund profile

The fund’s strategy focuses primarily on primary investments in European private equity firms with assets under management below €3 billion, as well as direct minority co-investments alongside these funds. While its main focus is Europe, the fund may also gain exposure to other geographies and complementary strategies, such as private debt, real estate or infrastructure.

In addition, the fund may occasionally make secondary investments, and selectively allocate capital to eligible liquid assets, in line with applicable regulations.

Key fund characteristics:

Initial duration: 10 years from final closing, extendable by two additional 2-year periods.
Commitment period: up to 18 months from CNMV registration (extendable by an additional 6 months).
Permitted leverage: up to 50% of total commitments.
Management fees: between 0.50% and 1.35% annually, depending on the share class.
Depositary: Caceis Bank Spain, S.A.U.
ESG classification: financial product integrating sustainability risks under Article 6 of the SFDR.

The fund is structured as a fund of funds, with the possibility of co-investments and the creation of parallel vehicles. It also foresees acquiring existing commitments from Tresmares Growth Fund Santander, S.C.R., S.A., also managed by Tresmares Private Equity.

With this new vehicle, Tresmares strengthens its position as a specialized platform for alternative investments in the European mid-market, combining access to leading managers with in-house co-investment capabilities and market insight.