Gather all ingredients before starting the recipe.
Add 2 roasted red (piquillo) peppers, 10-12 pitted kalamata olives, 1-2 tbsp capers, 1 large clove garlic, 2 tbsp anchovy paste and 3 tbsp tomato paste to an immersion blender bowl, or a food processor.
Add 2 tbsp water and process for a few minutes, slowly adding 1/3 cup extra virgin olive oil and process until you get a smooth paste. Set aside until ready to use.