Spain's Bankinter Investment has launched a new hedge fund-style vehicle aimed at widening access to alternative investments, as the Madrid-based firm continues to expand its presence in real-asset and private market strategies.

The new structure, named Bankinter Investment Inversión Alternativa II, FIL, is designed to provide exposure to a diversified mix of real-economy assets through a single investment vehicle. The fund targets sectors including energy, infrastructure, real estate and private equity, with a focus on Europe and other OECD markets.

A key feature of the strategy is its lower entry threshold, with minimum investments starting from €10,000 – significantly below traditional private market requirements, which have typically been limited to institutional or high-net-worth investors. The firm said the aim is to make alternative investments more accessible while maintaining a professionally managed, long-term approach.

The fund will be managed internally by Bankinter Investment’s dedicated alternative investment team, following a direct investment model that gives the manager control over underlying assets. The structure is designed to increase flexibility compared with conventional funds, allowing investments across a broader range of deal sizes and sectors.

Bankinter Investment also confirmed that it will invest alongside clients in the vehicle, aligning its interests with those of investors. The fund is structured as a closed-ended vehicle with a long-term horizon and is intended to complement traditional equity and fixed-income allocations by offering lower correlation to listed markets and a more stable return profile.

The firm is targeting a net internal rate of return of around 9%, alongside an average annual distribution target of 5% once the investment period matures, although these figures are not guaranteed.

In addition, the structure includes features aimed at improving tax efficiency for Spanish investors, including mechanisms that allow contributions and distributions via fund transfers, potentially deferring capital gains taxation in line with traditional mutual fund treatment.

The launch builds on Bankinter Investment’s broader strategy in alternative assets, which it has developed since 2016. Over that period, the firm has expanded into multiple sectors including renewable energy, hospitality, logistics, infrastructure, technology and residential assets, building a diversified platform across more than a dozen countries.

Recent corporate activity, including planned integrations and acquisitions of other alternative asset managers, is expected to further expand the firm’s scale and international reach, with assets under management rising significantly as the platform consolidates its position in the Iberian alternatives market.