Chief Executive Officer
Carlos Manzano is Chief Executive Officer of Santander Alternative Investments . He joined Santander in 2017 from Deutsche Bank, where he led Real Estate for Spain and Portugal, and previously held senior roles at BAM, Gecina and Metrovacesa. He has over 25 years of experience in real estate and alternative investments and holds an MBA from ESADE and a degree in Economics and Business Administration from Universidad de Valladolid.
Chief Investment Officer & Private Credit Global Head
Borja Díaz-Llanos is Chief Investment Officer and Global Head of Private Credit at Santander Alternative Investments. He joined Santander in 2019 from Deutsche Bank, where he held senior roles in financing, structuring and trading across European markets, and previously worked at Deloitte. Borja holds an MBA from the London School of Economics and a degree in Economics from Universidad Autónoma de Madrid.
Real Estate Global Head
Michael Zerda is Global Head of Real Estate at Santander Alternative Investments. He joined Santander in 2025 from LaSalle Investment Management, where he was European Co-CIO and Head of Debt & Value-Add Strategies. Previously, he was Head of Europe for Real Estate Debt Strategies at Blackstone, and held roles at Merrill Lynch and Goldman Sachs. He has over 25 years of experience in real estate investing and holds a degree in Finance from Texas Christian University.
Infrastructure Global Head
Nadir Maruf is Global Head of Infrastructure at Santander Alternative Investments. He joined in 2024 from ThomasLloyd Group, where he was CIO, and previously held senior roles at Tesco Pension Investment, Eastspring Prudential and Deutsche Asset Management. He has over 25 years of experience in private markets and holds an MBA from Durham University and an MEng from the University of Cambridge.
