Updated:
Casa Grande de Cartagena
Rafael del Pino y Moreno founded Ferrovial in 1952, building it into a global infrastructure concessionaire.
Casa Grande de Cartagena
Rafael del Pino y Moreno founded Ferrovial in 1952, building it into a global infrastructure concessionaire. When he died in 2008, his five children inherited a fortune anchored in a controlling stake in the company. Casa Grande de Cartagena, established decades earlier in 1976, became the vehicle through which María, Joaquín, and their siblings manage that multigenerational wealth alongside independent chair Alfredo Saénz, the former CEO of Banco Santander, who leads the family council. The office allocates across infrastructure, private equity, real estate, and liquid markets, with a bias toward hard assets and direct ownership that mirrors the family's industrial roots. Direct co-investments and fund commitments sit alongside a separate real estate development portfolio in Spain held through Polan S.A. The firm maintains a 5% stake in Indra Sistemas, the Spanish defense and technology contractor, and invests in venture-stage companies through alternative VC models. Investment types span private credit, secondaries, natural resources, and sports franchises. Geographically, the portfolio reaches Europe, North America, South America, and Oceania. Maria Jose Osuna leads private equity from Madrid. The Del Pino family sits on the boards of Indra and maintains adjacent structures including Pactio Gestión, a SICAV management company chaired by Joaquín del Pino. The office endorses ILPA's Private Equity Principles, signaling a formal LP posture in institutional fund commitments. In 2011, Casa Grande de Cartagena held a board seat at Indra representing its holding, and family members serve on advisory boards at IESE Business School and the Asociación para el Progreso de la Dirección. The family separates philanthropic capital through the Rafael del Pino Foundation, one of Spain's largest private foundations, which funds leadership scholarships and economic research. The foundation operates independently from the investment office, a governance choice that insulates charitable assets from principal investments. The dual sibling control — María as president and Joaquín as vice-chairman — creates a shared-governance model distinct from single-CIO family offices, with Alfredo Saénz providing external oversight as council chair.
General information
Firm type
Single Family Office
Year founded
1976
AUM
$1.5B–$2.0B (Altss estimate)
Location
Region
Europe
Country
Spain
City
Madrid
Corporate office
Calle Rafael Calvo 39, 28010 Madrid, Spain
Principals
María del Pino y Calvo-Sotelo
President
Joaquín del Pino y Calvo-Sotelo
Vice-Chairman and Co-Controller
Alfredo Saénz
Independent Chairman of the Family Council
Maria Jose Osuna
Head of Private Equity
Sector focus
Frequently asked questions
Who controls investment decisions at Casa Grande de Cartagena?
María del Pino y Calvo-Sotelo serves as president and co-controller of Casa Grande de Cartagena alongside her brother Joaquín, who holds the vice-chairman role. Private equity is led by Maria Jose Osuna. Alfredo Saénz, former CEO of Banco Santander, chairs the family council independently, providing governance oversight without direct investment authority.
How is Casa Grande de Cartagena related to Ferrovial?
Rafael del Pino y Moreno founded Ferrovial in 1952. His inheritance passed to his five children, who hold a controlling stake in Ferrovial through the family holding structure. Casa Grande de Cartagena, established in 1976, manages the liquid and alternative assets generated from that wealth, while Rafael del Pino y Calvo-Sotelo manages his personal wealth separately via Rijn Capital and chairs Ferrovial SE.
Does the family office co-invest alongside external general partners?
Yes. Casa Grande de Cartagena is an endorser of the ILPA Private Equity Principles, indicating a structured limited partner program. The office invests through direct co-investments, fund commitments, and alternative VC models, typically alongside institutional partners rather than operating as an independent sponsor.
What asset classes does Casa Grande de Cartagena target?
The office allocates across infrastructure, private equity, real estate, private credit, secondaries, natural resources, and commodities. Direct real estate development in Spain occurs through Polan S.A., and the firm holds a significant minority stake in Indra Sistemas, the publicly traded Spanish defense and technology company.
Are the family's philanthropic activities managed through the same office?
No. Philanthropic capital is held separately through the Rafael del Pino Foundation, chaired by María del Pino. The foundation funds leadership education, economic research, and civic initiatives in Spain and is legally and operationally distinct from the investment office. The family also supports additional foundations including the Princess of Asturias Foundation.
What geographies does the family office invest in?
The portfolio spans Europe, North America, South America, and Oceania. The European allocation is anchored in Spanish real estate and infrastructure, while international commitments extend to private equity funds and direct deals in the Americas and Asia-Pacific through fund-of-funds and co-investment structures.
What is the family's posture on sustainability and climate-themed investments?
Sector focuses include ClimateTech, Energy Transition & Renewables, and Mobility & Transportation — consistent with a family that built its wealth in transport infrastructure. The office has tagged Circular Economy and ESG as technology focus areas, suggesting sustainability is integrated into deal evaluation rather than treated as a separate impact allocation.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: