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Tres Coronas Capital is a Spanish family investment group focused on three specific areas: real estate, including investments in residential properties, offices, retail, and logistics centers; agriculture, with various operations primarily based in Argentina; and financial investments, mainly in publicly traded companies and alternative assets. The firm takes a global perspective and follows a long-term approach to wealth management, aiming to invest through a structured and professionalized organization.
They discovered the search fund space more than ten years ago and quickly fell in love with the model. Mariana Horn, who leads their SF strategy, explains that this model aligns very well with their philosophy. They were drawn to the attractive risk-adjusted returns, the collaborative nature of the ecosystem, the opportunity to support a new generation of entrepreneurs, and the long-term vision of acquiring and growing SMEs.
As a result, they decided to allocate approximately 50% of their Private Equity investment vehicle to search funds. Their focus is on direct investments in Europe and selected opportunities in Latin America, while they gain exposure to the U.S. and Asia indirectly through participation in other global investment funds.
Over the past three years, Tres Coronas Capital has developed strong expertise in the search fund space, becoming one of the most active family offices in the sector. To date, they have backed more than 38 SFs across Europe and Latin America, including Alpha Generator Capital, Preludio Partners, Netherwood Capital, Lynx Trail Capital, Spera Global, Ulam Transmission, Phoenix Rise Capital, and L&R Partners, among others.
On the SME side, following their first investment in 2022 — participating in the acquisition of Recambio Fácil — they have built a portfolio of 25 companies. This includes Milton Education, Pago de Tharsys, Ibérica Semiconductores de Potencia, Safetop, Adinor, TodoExtintor, Polysistemas, and Alfavet Tierarzneimittel.
They define themselves as sector-agnostic and are considered a valuable partner. Mariana’s background as an analyst in investment banking and hedge funds equips her with valuable insights, especially during the target search phase, where her expertise supports fundamental analysis of potential investments.
