Tandem Capital Gestión

Tandem Capital Gestión

Tandem Capital Gestión launched in 2010 in Santiago, Chile, co-founded by Eduardo Fernández and Cristián Donoso. The firm emerged during a period when Chilean institutional investors, particularly AFPs (pension fund administrators), were systematically increasing allocations to alternative assets under the country's multi-fondos system. Tandem positioned itself to intermediate between this growing pool of domestic institutional capital and mid-market opportunities in real estate, infrastructure, and private credit that fall below the radar of larger international managers. The firm operates across real estate development, infrastructure equity, and private debt strategies, targeting assets primarily in Chile with selective exposure to neighboring markets. Its real estate practice has backed residential, office, and logistics projects in Santiago and regional cities, often through joint ventures with local developers. On the private credit side, Tandem structures mezzanine and bridge financing for mid-sized Chilean companies that lack access to public bond markets. Confirmed vehicles include the Tandem Real Estate Fund I, focused on value-add office and residential assets in greater Santiago, and subsequent vintages that broadened the mandate to include logistics and mixed-use development. Tandem operates from a single office in Santiago and does not publicly disclose total assets under management or deployment figures. The leadership team includes professionals with backgrounds in Chilean banking, real estate development, and private equity, though a precise headcount is not published. In June 2023, the firm closed its latest real estate vehicle, Tandem Real Estate Fund III, reaching its target with commitments from Chilean family offices, insurance companies, and AFP-managed pension funds (per public record). The firm does not operate a multi-family office or wealth-advisory arm, maintaining a pure asset-management structure. What distinguishes Tandem is its focus on institutionalizing mid-market real-asset strategies in a market where most domestic competitors are either family-run development companies or large-scale infrastructure managers. By structuring fund vehicles that meet AFP regulatory requirements — including independent valuation, custody, and risk-committee oversight — Tandem accesses a capital pool that traditional developer-led platforms cannot easily reach. The founding partners remain actively involved in both investment decisions and investor relations, a structure that suits Chilean allocators who value direct access to decision-makers.