Alternatives · Madrid
Terram Capital
South Hub represents Terram Capital before professional investors in Spain, Portugal and Andorra.
About Terram Capital
Terram Capital is a Madrid-based special-situations credit manager that provides bespoke capital solutions to the Iberian mid-market, typically in situations characterised by a scarcity of liquidity. Its first special-situations credit fund was raised in 2022 with a focus on real-estate and corporate asset-backed credit, and the firm is led by managing partner Ignacio Novela del Rey. Terram sees itself not merely as a lender but as a partner, aligning its interests with borrowers and major stakeholders to resolve complex situations.
The firm targets Iberian mid-sized companies with tickets ranging from €5m to €25m, with the ability to reach higher amounts through co-investment, financing CapEx, acquisitions or debt refinancing. Its edge lies in a well-established local presence in Spain and Portugal that gives direct access to owners and management while avoiding competitive auctions, combined with a hands-on, private-equity-style analysis focused on downside protection through real collateral. South Hub introduces Terram’s private-debt strategy to institutional and professional investors across Iberia within the regulatory framework of the CNMV in Spain and the CMVM in Portugal.
Strategies we represent
Terram Capital II
Iberian mid-market private debt: asset-backed special situations with private-equity-style underwriting and strong downside protection through real collateral, with Atitlan Group as anchor investor. Closed-ended · Asset-backed
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