He began his career in 1990 at Goldman Sachs as a financial analyst specialising in mergers and acquisitions. Between 1992 and 1997 he was responsible as Vice President for the M&A activity of Bankers Trust (now Deutsche Bank) for Spain and Portugal.

He joined Telefónica in 1997 as general manager of projects and strategic alliances, immediately appointed CEO of Antena 3 – where he undertook a profound transformation and successful management – between 1997 and 2000, promoted to executive chairman of Telefónica Media between 2000 and 2002. He chaired Vía Digital (currently Movistar+), and was Director of Onda Cero, Endemol and Recoletos (listed company of the Pearson group). He was a member of the Executive Committee of Telefónica.

Between 2002 and 2012 he was appointed Chairman of Service Point, positioning it as one of the largest listed digital printing companies in Europe through international acquisitions. He was promoted as one of the non-executive founding partners the financial services firm Arcano in 2003.

Executive Chairman and founder of NK5 since 2015. Between 2016 and 2018 he has been Executive Chairman of Grupo Baux, one of the largest private aluminium groups in Spain. He chairs its real estate subsidiary NK5 Real Estate and its social impact fund AYO Social Ventures.

Extensive experience as an independent director and on audit and nomination committees. He has been a member, among others, of the European Advisory Board of CVC, Dorna-Moto GP, Diario de Navarra, Noatum, Uralita, VBA Socimi. He was an independent coordinating director and chairman of the audit and control committee of OHL and chairman of its Balance Sheet Restructuring Committee. He is currently an independent director of Aluman, of the real estate company between Banco Sabadell and Cerberus, and of Sogeviso. He sits on the advisory boards of Havas Media and Banco Sabadell Este. Between 2012 and 2016 he was Senior Advisor at Anchorage Capital.

Founder of Fundación AYO -Accelerating Youth Opportunities- which promotes the personal and professional development of young people at risk of exclusion and has 150 active collaborators. He became a member of the World Board of Patrons and Country Chair – Spain of the Global Dignity Foundation. Elected by the World Economic Forum, Young Global Leaders between 2005-2010.

Graduated in European Business Studies -E4- from ICADE, he completed his financial training at the London Business School and in business management at Stanford University.

Álvaro joined the NK5 team in September 2020 as a Director, and within the firm is a specialist in financial restructuring of companies in a legal perspective.

He has developed his last 9 years in DLA Piper, where he was Of Counsel of the Restructuring & Special Situations area, participating in acquisition,
restructuring, refinancing and insolvency processes, nationally and internationally. He has extensive experience advising international clients (e.g. Goldman Sachs, Apollo, KKR, King Street, Strategic Value Partners, Credit Suisse International or Deutsche Bank) in cross-border restructuring
processes both in solvency and insolvency, in different pre-insolvency mechanisms (refinancing agreements), purchase and sale of production units,
and liquidation of companies. He also has experience in transactions related to distress assets and debt (secondary market subject to LMA documentation).

Álvaro has been recognized by the legal ranking Best Lawyers as one of the best Lawyers in Spain between 2016 and 2019 (Categeory Insolvency & Reorganization), and was finalist in 2019 on the Iberian Lawyer Forty under 40, as Best Individual Lawyer in Insolvency & Restructuring.

He holds a degree in Law and Political Science from Universidad Autónoma de Madrid, a Postgraduate Degree in Business Law from the Open
University of Catalonia, and has completed several specialization courses in restructuring, banking and financial law (CFA Level I Candidate).

He was a speaker in post graduate programs in different business schools, such as IEB (Institute of Stock Market Studies), where he participated in the Course of Refinancing & Restructuring, and in the University of Navarra, where he participated in the Master’s Degree in Access to the Legal Profession. In addition, he has been a regular collaborator in the DLA Piper Internship Programme and he is a current member of TMA (Turnaround Management Association) in Spain.

He is the leader of the Restructuring processes and the relationship between NK5 and the law firms.

Manuel is a cofounding partner at NK5 and he specializes in financial restructuring and business operations. He has developed his career working the last 13 years in investment, restructuring, refinancing and insolvency processes. He has long-standing experience as a restructurer, having been involved in more than 100 insolvency processes and reestructurings, most of them as Insolvency Trustee, in which he has led numerous liquidations of production units.

Previous to his current role, he worked for 9 years at Deloitte, where he created and led the current areas of restructuring and insolvency. Before that, he was a corporate banker at The Bank of Tokyo-Mitsubishi UFJ for 5 years.

Manuel graduated in Business Administration from ICADE.

José María joined NK5 in January 2026 as Director, bringing nearly ten years of experience on the Debt & Real Estate M&A team at EY-Parthenon, with a focus on special situations and distressed portfolios.

During his time at EY-Parthenon, he participated in numerous distressed acquisition and divestiture processes, including debt and real estate asset portfolios. In these engagements, he advised both financial institutions and specialist investment funds, working across transactions structured under a variety of formats and schemes. He also has extensive experience in the valuation of distressed assets and portfolios, including the preparation of fairness opinions and impairment tests.

José María holds a degree in Business Administration and Management from the Universidad Complutense de Madrid and a postgraduate qualification from the University of California, San Diego (UCSD).

Andrés joined NK5 in February 2024 as Senior Associate, coming from the Restructuring & Debt Advisory team at EY-Parthenon, where he spent nearly three years. During this time, he was involved in various financial restructuring processes, financing searches, and advisory work on the acquisition and sale of going concern business units.

Previously, he spent three years in the audit department at EY, focusing on the construction, infrastructure and industrial sectors, with the opportunity to audit both domestic and international listed groups. Prior to that, he completed internships at Deutsche Bank and Ánima Ventures, a pioneering social impact fund in Spain.

Andrés holds a degree in Business Administration and Management from CUNEF and a Master’s in Auditing and Advanced Accounting from ICADE. During his university years, he was a member of Bankinter’s Innovation Akademia, a programme aimed at young entrepreneurs. He also holds a specialist course in financial modelling from the Instituto de Estudios Bursátiles (IEB).

Raül joined NK5 team in June 2022.

Previously, he worked as an analyst in 9fin (London, UK) in the Leveraged Finance markets department covering European debt issuers. He formerly did an internship in the risk department of BBVA.

Raül holds a degree in Business Administration and Management from the University of Barcelona and a Master in Finance from IE Business School. In addition, he is a CFA III candidate and was a global finalist of the CFA Research Challenge in its 2022 edition.

Miguel García joined NK5 in September 2025 as an Associate, after four years in the Corporate Finance department at KPMG. During this period, he was involved in Fairness Opinion reports for Boards of Directors across different industries, as well as an Independent Expert in the context of public takeover bids (OPAs) supervised by the Spanish body regulator (CNMV).

Previously, he worked in the Investment Services department in Luxembourg, providing support and advisory services to investment fund managers across Europe. Earlier in his career, he completed internships at Indra and BBVA.

He holds a double degree in Economics and Business Administration from Universidad CEU San Pablo and has obtained the CFA charter.

Since 2015, she is part of the NK5 team as Office Manager and responsible for Human Resources and talent development.

Patricia has a degree in Psychology from the Complutense University of Madrid, and she began her professional career alongside Juan José Nieto at Telefónica Media, developing her career in different companies such as Arcano, Service Point or Palmera Capital y Servicios.

Ignacio joined the NK5 team in May 2024. Prior to this, he completed an internship at Taconic Capital Advisors in their London office.

He holds a degree in Business Administration and Management from Loughborough University in England and completed an academic exchange at the Católica Lisbon School of Business and Economics. He is a CFA Level I candidate.

Manuel Álvarez holds a Civil Engineering Degree from Universidad Politécnica de Madrid and has more than 35 years of experience in the construction, concessions, oil & gas services, and railway logistics sectors.

Manuel joined in 2018 the OHL Group as Managing Director where he led the transformation and financial restructuring of the group, overseeing the operational divisions (construction, concessions, industrial and services)
and the functional ones (finance, legal and organization and human
resources). He managed a reduction in general expenses from 240M€ in 2018 to 130M€ in 2019. In addition, he was responsible of the execution of new policies of compliance and transparency, where he managed to recover shareholders trust.

In 2016 he joined Dragados (ACS Group) as Director of Engineering and Technical Services, where he led the design, acquisition and supervision of important projects in Canada, USA, LATAM and Europe from the tendering until the delivery.

Manuel was Managing Director at Leighton Asia (CIMIC Group) from 2014 until 2016, where he oversaw the transformation and restructuring of the company, focusing on the expansion and operational improvements of the company. He was responsible for a reduction in general expenses of $53 million, which meant a reduction of 41%.

From 1998 until 2015, Manuel acted as Chief Operating Officer of Vías y Construcciones (ACS Group), where he achieved, between 2005 to 2008, a 70% internal growth and he also increased in 10 years the Spain share market to a 230%. Moreover, he opened new branches in Poland, USA and Canada. During that period, he was the Chief Executive Officer of different branches of VIAS and he also acted as member of many councils.

Previously he worked in companies such as Lain S.A. (former OHL company), Construcciones Adolfo Sobrino, where Laín merged with the company. He also became head of the construction department at the Ministry of Development of Castilla y León and in Rubiera S.A., a family-owned business specialized in prefabricated concrete solutions.

Santiago joined NK5 in July 2023 having graduated in International Business Administration from the Universidad de Navarra. Since then, he has been involved in various restructuring transactions, as well as financing and acquisition analyses in distressed situations. He entered the financial sector during his third year of studies, where he had the opportunity to work as an investment analyst at a search fund for 14 months. There, he gained foundational knowledge in business analysis, relationships with management teams and investors, and leveraged buyouts (LBOs).

During his time at university, he also served as President of the finance club and held a teaching assistant role for specialist finance courses at IESE Business School. Santiago has passed the CFA Level I examination.

Fernando joined the team in July 2023. Prior to this, he worked in the finance department at Grant Thornton, analysing financial statements and managing monthly closings for external clients.

He holds a degree in Business Administration and Management with Marketing from Universidad Rey Juan Carlos, and was awarded an excellence scholarship by the Community of Madrid in recognition of his academic record. He also served as President of his university’s finance club and has passed the CFA Level I examination.

Marta joined NK5 in August 2024. She is currently pursuing a degree in Psychology at Universidad San Pablo CEU, and holds a degree in Advertising and Communication Sciences from CENP.

Through her academic background and professional experience, she has developed skills and competencies primarily across two areas: personal assistant and executive support roles, and positions related to the management, analysis and execution of actions and operations for companies in the advertising and marketing sector serving end clients.

Josep Balcells has more than 12 years of experience in advising, managing and executing corporate transactions. He started his professional career at PWC specialized in FIG Spain and London until 2012.

Subsequently, he joins the English Venture Capital Fund 3i in its London office where he is part of the investment team for the Iberian portfolio, focused on the monitoring and valuation of investments.

At the end of 2013, he decided to join Mora Banc as head of private equity, where he created the manager specializing in alternative asset management Amura Capital. During this period, he invests more than 250 million euros in high-growth assets. He acted as the main investor in Inmobiliaria Colonial in 2013, originating the restructuring of the company and promoting the new strategy until entering the IBEX-35. He also promotes investment in FIA Formula E, being one of the institutional founding investors, or acquires The Admiralthy Arch in London from the English government developing an iconic hotel and residential project with Waldorf Astoria. Josep participates as an active LP with Fosun Capital in its fund “China momentum fund” acquiring international mid-market companies to position them in the Chinese market.

Josep Balcells is a director and member of the audit and remuneration committee in several companies, such as FIA Formula E, Admiralthy Arch or Casa Vicens, among others.

In 2016 he was appointed head of corporate development at Mora Banc group to provide strategic support to the corporate board of directors.

In 2020 he created MIBANI, an alternative investment boutique, which later changed its name to NK5 Real Estate. He currently combines the divestments in the final phase of Amura Capital with the management of NK5 Real Estate. Josep Balcells has a degree in ADE from the Ramon Llull University of Barcelona, ​​he has a Global MBA from IESE.

Jaime holds a degree in Business Administration from Franklin & Marshall College in Pennsylvania (USA) and completed an Executive Program at CEDEP-INSEAD.

Nowadays Jaime is Senior Advisor and Spain Representative of Infraestructura SpA and independant advisor of IslaLink. From 2005 to 2017 he held the position of CEO in Renovalia Energy Group. Jaime is founder of the company Bartcorp Strategies.

From 2000 to 2002, he is CEO and country manager of HSBC, where from 1996 to 2000 he held the position of deputy CEO. In addition, Jaime has been an executive director in the treasury and capital markets area of Midland Bank (merged with HSBC).

From 1989 to 1990 he worked in the financial engineering area at Citibank Spain, as Vice President. Jaime began his professional career at Lloyds Bank, where he became an executive officer in the treasury and capital markets area from 1987 to 1989.

Alberto brings over three decades of experience in financial markets, strategic consulting and financial analysis. At the CNMV, he served under two successive chairpersons, contributing to the development of primary markets, various regulatory initiatives, and a range of primary and secondary market transactions.

Prior to his time at the supervisory authority, he held senior positions at JLL, Ahorro Corporación, and as a Corporate Finance and M&A partner at Analistas Financieros Internacionales (AFI). He also founded his own financial advisory firm, Manihi Partners, with activity in both Spain and the United States.