AltamarCAM Partners, a global private equity firm, plans to strengthen its position in the real estate sector with a capital injection of up to €500 million next year. The company will focus primarily on the healthcare and housing markets, although it is also considering expanding its presence in sectors such as hotels, logistics and data centres.
Fernando Olaso, Managing Partner of Real Estate and Co-head of Real Assets at AltamarCAM, indicated that the projected investment will range between 400 and 500 million euros, part of which will be channelled through a new fund created in collaboration with Terralpa, specialising in premium housing. This fund, which seeks to raise 150 million euros of capital, will have a total investment capacity of 300 million euros until 2027, with a divestment horizon of approximately seven years.
Recently, Ramón Hermosilla, new Managing Director in the Real Estate area and former CEO of Terralpa Investment, was appointed together with Carlos Esteban as Co-Heads of the real estate area at AltamarCAM. Olaso highlighted the firm's track record in Spain, with investments of approximately €1 billion over the last decade in sectors associated with robust demographic trends such as housing and healthcare.
Among the company's notable divestments are deals with international investors in socimis such as Elix Vintage, acquired by Allianz and KKR; Student Properties, bought by Belgian group Xior; and a socimi focused on the elderly sector sold to CBRE IM and the Abu Dhabi sovereign wealth fund.
Terralpa's new fund will concentrate on key markets such as Madrid, Costa del Sol and the Balearics, and has already attracted considerable interest from both Mexican and Spanish investors, with the latter accounting for 70% of purchases, according to Hermosilla.
For the coming year, AltamarCAM will focus its efforts on two main strategies: housing, including senior and student residences, and healthcare. In addition, Carlos Esteban highlighted the potential of the hotel sector and, in line with the digitalisation trend, the growing interest in logistics and data centres, where the firm could collaborate with industrial partners. The possibility of expanding into other European markets in the healthcare segment is also being considered.
