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About Us
Tesys Team
Mission, Vision, and Values

We invest with you, with your future in mind

We invest with you, with your future in mind

ABOUT US

We are investment
experts

The team at Tesys Activos Financieros SGIIC is highly qualified and experienced in financial markets, business management, and company valuation, complemented by a generationally diverse perspective.

We are an intergenerational asset management firm specialized in equities, focused on identifying the most profitable companies over the long term.

Skin in the game.

We strongly believe in what we do. That’s why the members of Tesys Activos Financieros are the main investors in the fund we manage, ensuring complete alignment with our clients and sharing both the risks and the rewards of our investment decisions alongside our co-investors.

A story built around people

Tesys Activos Financieros SGIIC is a subsidiary of Torres-Solanot y Sala Asociados, the parent company of the Tesys Group.


Torres-Solanot y Sala Asociados is a family-owned company that co-founded the infrastructure group Cyopsa Sisocia in 1993. The group operates in public construction, concessions, renewable energy, and real estate.

In 2013, the group went on to establish Compañía General Nafte, a network of oil service stations now operating across several regions of Spain.

These cash-generating businesses enabled the group to begin investing in listed companies and investment funds starting in 1998, either directly or through its subsidiaries. From that point on, a deep interest in equities emerged, leading to the exploration of different investment styles and a closer understanding of various portfolio managers’ work.


For over 25 years, we have been investors in funds managed by some of the most respected professionals in the industry. This experience not only delivered strong results, but also allowed us to learn from their insights, discipline, investment criteria, and even their mistakes.


In 2018, we established Tesys Activos Financieros with the goal of professionally managing the portion of Tesys Group’s capital invested in listed companies on regulated markets.


In March 2022, following an extensive selection process, Antonio Fernández joined the firm as Chief Investment Officer and assumed responsibility for managing the equity portfolio.

Business owners, not just shareholders

Our background as entrepreneurs and long-term investors has given us solid experience in analyzing companies and understanding how financial markets operate. Over the years, we’ve had the opportunity to learn alongside some of the most respected managers in the sector, experiencing firsthand different economic cycles, from periods of euphoria to times of sharp correction.

Rather than being a setback, this experience has been key to shaping a firm, balanced, and profitable investment philosophy. Built on these foundations, we now lead this project with the conviction and discipline required for long-term-oriented asset management.

Humble beginnings, significant milestones

In May 2023, Tesys Activos Financieros was established as a Financial Advisory Firm. Just a few months later, in September 2023, we launched our advised fund, TESYS INTERNACIONAL FI, with the aim of sharing our equity investment philosophy—which we had long applied to our own capital—with external investors.



After 18 months of intense work, learning, and consolidation in the industry, we took a decisive step: in May 2025, we became officially authorized as an investment firm (SGIIC). During that period, and as a result of our strategy and management, TESYS INTERNACIONAL FI achieved a return close to 50%.



Despite our short history, our successful track record managing TESYS INTERNACIONAL FI has positioned it among the top-performing funds in its category for several months:
– 2nd best-performing fund over 12 months in Expansión's Global Equity ranking
– Top-performing fund over 12 months in Finect’s Global Large Cap Blend ranking

Growth-driven vision




Becoming a fully licensed management company marked a decisive milestone in our evolution. This new stage has been accompanied by the addition of new professionals to the team, further strengthening our capabilities and laying the foundation for sustainable growth. This momentum will allow us to move forward with greater independence in the creation and management of investment vehicles, while continuing to grow both our fund’s net asset value and assets under management

Who we are

Tesys Team

César Sala, a Civil Engineer with an MBA from IESE (1989), began his entrepreneurial career in 1993 by founding Cyopsa-Sisocia, a group specialized in civil works, highways, real estate, and renewable energy. Through this experience, he has developed strong financial expertise in both investment and asset financing.

Since 2016, he has served as Chairman and CEO of the family holding company Torres-Solanot y Sala Asociados (Tesys Group), which consolidates the group’s business and financial holdings.

César Sala Gamero

Socio Fundador y Presidente
Iván Ferrándiz, a Civil Engineer, began his career at an infrastructure group, where he held positions of responsibility. He later expanded his technical expertise in sectors such as renewable energy and oil, while also developing strong financial and management experience. He holds an MBA from ESIC, a Master’s in Financial Markets, and the European Financial Advisor (EFA) certification.

He is currently involved with the Tesys Group, where he advises and manages business and financial activities, in addition to co-investing and actively participating in several of the group’s companies.

Iván Ferrándiz Cámara

Socio Fundador y Consejero-Delegado
Antonio Fernández, a Computer Engineer with a Master’s in Financial Markets from CUNEF, has extensive experience in the financial sector. He has held investment analysis and portfolio management roles at Banco Santander, Metagestión, JB Gestión Patrimonial, and Preventiva Seguros.

Since March 2022, he has been managing the equity portfolio of the Tesys Group holding company, applying a conservative and profitable strategy focused on solid, low-debt companies. He holds the European Financial Advisor (EFA) certification and has over 17 years of experience in equity investing.

Antonio Fernández Quesada

Director de Inversiones
Aníbal San Miguel, holds a degree in Business Administration from the University of Zaragoza and has completed Level I of the CFA Program. He began his career with internships at Bankinter and Ibercaja, gaining experience in private banking and corporate finance.

Since March 2025, he has been working as an Investment Analyst at Tesys Activos Financieros. A passionate advocate of value investing, he founded the Caesars University Investment Club in 2024, focused on managing an equity portfolio.

Aníbal San Miguel Bielsa

Analista de Inversiones
David Cortés, senior technician in administration, financial and corporate accounting, and holds a diploma in labor relations. He is a certified financial advisor by EFPA.

He has been associated with the Tesys Group for over 20 years and currently serves as Administrative and Financial Director, as well as Secretary of the Boards of Directors of the various companies within the group.

David Cortés Serón

Director Administración
Alejandro Chocarro, graduate in Finance and Accounting from the University of Zaragoza, is a Certified Advisor (CAd) by CFA Society Spain and has passed Level I of the CFA Program.

Passionate about stock market investing, he founded FECEMUZ Bolsa, with which he won the University Stock Market League of Spain. He has worked in investment and corporate banking at NTT Data, gaining experience in fixed income and derivative products within the treasury departments of major banks.

Alejandro Chocarro del Río

Responsable Middle Office
MORE ABOUT US

Mission, Vision, and Values

Our Mission

To offer an independent investment alternative, grounded in experience, performance, and full alignment with the interests of our investors.

At Tesys Activos Financieros, we invest with discipline, patience, and a long-term perspective. We select high-quality companies, steering away from traditional models that focus on turnover and commission-driven strategies. Our commitment is to sustainable returns, transparency, and the responsible management of our co-investors’ capital

Our Vision

To drive sustained growth by confidently seizing the opportunities that global markets recurrently offer.

We do this by identifying companies with solid fundamentals, backed by management teams that are fully aligned with investor interests. We believe that market movements, often emotional and volatile, can provide meaningful investment opportunities. Our aspiration is to become a benchmark in investment management based on business quality, deep analysis, and disciplined execution. Our goal is to generate long-term value and deliver solid returns on the capital entrusted to us.

Our Values

Our model is built on principles that not only guide our decisions but define our philosophy of investing.

  • Honesty
    We adhere to the highest ethical standards in everything we do. We don’t simply manage money for others—we co-invest alongside our clients under the same principles and conditions.
  • Responsibility
    We fully assume the responsibility that comes with managing capital. We treat entrusted funds with the same care and prudence as our own.
  • Rigor and Consistency
    We apply a disciplined and coherent analytical framework, staying true to our investment philosophy. We reject opportunistic or speculative decisions.
  • Transparency
    We explain our decisions in a clear and accessible way. We believe in building relationships based on mutual trust and open communication.
  • Commitment and Dedication
    Active management requires constant attention, preparation, and professionalism. We are fully committed to each investment decision.
  • Independence
    We act free of conflicts of interest. Our sole objective is to generate returns on our co-investors’ capital.
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Why Tesys

We invest with you, with your future in mind: our purpose is your growth.

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