Real Estate

Extensive experience and sound track records in the real estate sector
Since 2006, Altamar’s Real Estate team has invested in the international Real Estate sector with “Opportunistic” and “Value Added” strategies together with some of the best global Private Equity Real Estate managers.

Altamar Real Estate’s vast experience, solid track record and proven capacity to access to the best fund managers and investment opportunities, have positioned the firm as the leading international Real Estate investment manager in Spain.

Real Estate currently represents a basic asset class in institutional investors’ portfolio building strategies. Among the factors that have led to increased allocations to this type of assets are its yield generating capacity, diversifying effect due to its low correlation with other financial assets, and ability to generate superior returns even in unfavorable cycles.

Altamar Real Estate has a differentiated strategy, adapted to market cycle and opportunity, focused on value creation through active management (for example looking to reposition or improve assets, deliver rental management, etc.), with risk protection and capital preservation always in mind.


Altamar integrates environmental, social and corporate governance (“ESG”) factors by implementing best market practices at all stages of the investment process. Thus, ESG factors are taken into account in the selection and analysis of investments (as part of the Due Diligence process), in the formalization of investments (by requesting ESG clauses from managers in the Side Letters and the Exclusion Policy) and in the monitoring of investments (by updating the ESG Due Diligence Checklist, analyzing the reporting on sustainability issued by managers and the ESG information collected by Altamar’s investment teams when attending their Annual Meetings).

Altamar Real Estate invests in a variety of markets along with fund managers with local presence and extensive and successful track-records, using a combination of PERE funds (Primaries and Secondaries) and direct investments (co-investments) creating balanced portfolios with appropriate diversification in terms of the number of investments, vintages, geographies, sectors, and so on.

Altamar Real Estate has a rigorous and disciplined process to identify and select the best investment opportunities. With thorough monitoring and control of the portfolio, this optimizes evolution of funds under management.


Since 2006

Since 2006, the Altamar Real Estate team has managed three funds totaling around


underlying investments

+ € 2.1 b

under management


Funds Invested

A highly diversified portfolio

Investors distributed across

Since 2017

Altan IV Global I.I.C.I.I.C.I.L. (“Altan IV”) was launched in 2Q 2017 with a very similar strategy to its predecessors. Altan IV has a target size of up to $400 m. It is aimed at institutional investors such us insurance companies and pension funds, and private investors including family offices and high net worth individuals. The Fund is regulated and supervised by the CNMV


The investment in PERE through the funds managed by ALTAN provides important advantages:

Selection of the best international managers

Unique knowledge of the PERE sector and rigorous selection process.

Access to the best managers

ALTAN has a proven Access to best managers worldwide.

Economies of Scales

The investment in ALTAN allows to build a diversified portfolio of PERE funds with a significantly lower capital commitment than the one required to build a similar portfolio investing directly in the underlying funds.


Adequate managers and investment risk diversification (~10-12 managers and ~200 assets/real estate portfolios in different sectors- offices, retail, industrial, hotels, etc- and geographical regions)

ALTAN is the first Asset Manager incorporated in Spain for PERE investments, and has been approved and is regulated by the CNMV (Comisión Nacional del Mercado de Valores – Spanish Securities and Exchange Regulator).

Funds under management

Altan I Inmobiliario Global FIL2007/08Private Equity Real Estate GlobalLarge, Mid & SmallMore
Altan II Inmobiliario Global FIL2007/08Private Equity Real Estate GlobalLarge, Mid & SmallMore
Altan III Global FIL2013/14Private Equity Real Estate GlobalLarge, Mid & SmallMore
Altan IV Global I.I.C.I.I.C.I.L.2017/18Private Equity Real Estate GlobalLarge, Mid & Small More
Altan V Global I.I.C.I.I.C.I.L.2021Private Equity Real Estate GlobalLarge, Mid & Small More
ACP Real Assets Sustainable Megatrends FCR2021Real Assets GlobalLarge, Mid & Small More