CIX Capital
CIX Capital is a São Paulo-based real estate investment manager founded in 2012, structuring and managing FIIs, Euroclear bonds, CRIs, and offshore funds across Brazil and the US for high-net-worth investors, family offices, and institutional clients.
- Company typePrivate
- Founded2012
- HeadquartersSão Paulo, Brazil
- Headcount11–50
- GTM typeB2B
- OfferingServices
What CIX Capital does
CIX Capital is a São Paulo-headquartered real estate investment management firm founded in 2012 and controlled by Grupo MAIZ (the Zogbi family holding) together with Deutschland Consultoria. The firm originates, structures, and actively manages a diversified portfolio of investment vehicles spanning Brazilian Real Estate Investment Funds (FIIs), CRIs (Certificados de Recebíveis Imobiliários), Euroclear-listed bonds, and offshore fund structures, with cross-border exposure in both Brazil and the United States. The platform covers residential land banking in Manaus (Itapuranga, Ponta Negra, and Muiraquitan FIIs), affordable housing via California LIHTC bonds (CIX ESG Affordable Housing Bond II), US multifamily income (CIX AHS Multifamily Income Bond I with Resia/MRV in South Florida), commercial-to-residential adaptive reuse in Rio de Janeiro (CIX Retrofit FII RL), Brazil's Minha Casa Minha Vida program (CIX MCMV FII RL), healthcare medical office buildings (CIX Flagler Healthcare Fund with Sphere Investments), distributed solar generation (CIX GD Energia Solar FII RL), and corporate office (Transinc FII).
The firm's revenue model combines recurring management fees on AUM, performance/carried interest on equity and development strategies (with structures such as 15% subordination retained by CIX to align interests), and transaction-based structuring fees for new vehicle launches. Distribution runs through multiple channels: direct club deals with a USD 250,000 minimum ticket, an Andbank-administered feeder fund for lower-ticket Brazilian access to US real estate, B3-listed FIIs, and Euroclear-settled bond placements. The firm targets high-net-worth individuals and family offices as primary customers, with institutional investors, financial advisors, and developer partners as secondary segments.
Operationally, CIX relies on a deep strategic partner network — MRV/Resia, Direcional, Castellan, Greystar (announced February 2024 for 1,900+ US rental contracts), Andbank, and Sphere Investments — to source, operate, and manage assets. The firm reports R$ 8+ billion in cumulative transactions, R$ 2.8 billion in AUM (mid-2025), 100+ transactions across 80+ cities, and a team of 15+ professionals including investment, offshore, onshore, compliance, and investor relations functions.
CIX Capital firmographics
Firmographics- Name
- CIX Capital
- Legal name
- CIX Capital
- Website
- https://cix.capital
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- CIX Capital is a São Paulo-based real estate investment manager founded in 2012, structuring and managing FIIs, Euroclear bonds, CRIs, and offshore funds across Brazil and the US for high-net-worth investors, family offices, and institutional clients.
- Ownership category
- akta.pro rank
CIX Capital industry classification
Industry- Product category
- Real Estate Asset Management
- NAICS
- Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (52599), Other Financial Investment Activities (5239)
- SIC
- Real Estate Investment Trusts (6798), Real Estate Agents & Managers (For Others) (6531), Investment Advice (6282), Mortgage Bankers & Loan Correspondents (6162)
- akta.pro primary industry
- Commercial Real Estate Asset Management (BPAJAMAB)
- akta.pro secondary industries
- Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE), Balance-Sheet / Portfolio CRE Lending (FSALADAG), Credit Risk Transfer (CRT) & Mortgage Credit Securities (CAS/STACR/ACIS) (FSALAFAH)
Keywords
Where CIX Capital is headquartered
LocationHeadquarters
- HQ city
- São Paulo
- HQ country
- Brazil
- HQ region
- Latin America
Offices5 records
Markets served
CIX Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Asset Management Fees: Management fees charged on assets under management across various investment vehicles including FIIs (Fundo de Investimento Imobiliário), CRI certificates, Euroclear bonds, and offshore funds. Fees typically calculated as a percentage of AUM.
- Performance/Incentive Fees: Carried interest and performance fees aligned with investor returns on equity investments and development projects. Structure includes subordinate positions retained by CIX Capital (e.g., 15% subordination) to align interests.
- Structuring Fees: Fees earned from originating, structuring, and launching new investment vehicles and products including FIIs, CRI issuances, and bond offerings.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | Direct Investment in Club Deals / Development Projects |
| Subscription | Monthly | Feeder Fund Structure via Andbank |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels7 records
CIX Capital product offering
Product offeringCore offering
CIX Capital is a real estate investment management firm that originates, structures, and actively manages a diversified portfolio of real estate investment vehicles in Brazil and the United States. It offers products such as Real Estate Investment Funds (FIIs), Real Estate Receivables Certificates (CRIs), Euroclear-listed bonds, and offshore Cayman funds focused on residential land development, affordable housing, multifamily, healthcare, and energy assets. The firm provides qualified investors, family offices, and institutional clients with curated, professionally managed exposure to cross-border real estate opportunities.
Product overview
CIX Capital is a specialized real estate investment management firm operating in Brazil and the United States since 2012. The company offers a diversified portfolio of investment vehicles structured as Real Estate Investment Funds (FIIs), Euroclear Bonds, CRIs (Certificados de Recebíveis Imobiliários), and offshore fund structures. Core products include: residential land funds (Itapuranga FII, Ponta Negra FII, Muiraquitan FII) focused on large-scale developments in Manaus; credit and equity funds (CIX MCMV FII RL) targeting Brazil's Minha Casa Minha Vida housing program; renewable energy funds (CIX GD Energia Solar FII RL); US-focused products including affordable housing bonds (CIX ESG Affordable Housing Bond II), multifamily income bonds (CIX AHS Multifamily Income Bond I), and healthcare real estate funds (CIX Flagler Healthcare Fund); and corporate office funds (Transinc FII). The company combines proprietary origination, disciplined structuring, and active management across both credit and equity strategies.
Differentiator
Problem solved
Functional benefit
Products and services
- Itapuranga FII Real Estate Investment Fund (FII) focused on residential land development in Manaus, AM, Brazil. The fund owns over 55 land plots spanning +1.5 million m² in the Ponta Negra neighborhood, with a masterplan expected to launch over 30,000 units, partnering with major developers like MRV, Direcional, Smart, and Capital. For qualified investors seeking exposure to large-scale Brazilian land development.
- Ponta Negra FII Real Estate Investment Fund (FII) focused on land investments in the Ponta Negra neighborhood of Manaus/AM, Brazil. Part of the Jardins da Ponta Negra masterplan, with +1.5 million m² of area and +55 land plots, expecting to launch over 30,000 units. For investors seeking exposure to residential land development in northern Brazil.
- Muiraquitan FII Real Estate Investment Fund (FII) focused on land investments in the Ponta Negra neighborhood of Manaus/AM, Brazil. Part of the Jardins da Ponta Negra masterplan, with +1.5 million m² of area and +55 land plots. For investors seeking exposure to large-scale residential land development.
- CIX Retrofit FII RL Real Estate Investment Fund (FII) structured to acquire commercial properties at below replacement cost in Rio de Janeiro's Centro district and convert them to residential use, benefiting from the Reviver Centro program fiscal and urban incentives. Initial investment of R$ 50 million with expected VGV of R$ 100 million, targeting 2 buildings with +12,900 m². For investors seeking exposure to urban regeneration and adaptive reuse in Rio de Janeiro.
- CIX MCMV FII RL Real estate fund with credit and equity strategies focused on Brazil's Minha Casa Minha Vida (MCMV) government housing program, with exposure to large developers and eligible projects. Structure includes 15% subordination retained by CIX Capital. For investors seeking exposure to government-backed affordable housing in Brazil.
- CIX ESG Affordable Housing Bond II Euroclear-listed Bond structured to finance the pre-incorporation phase of affordable housing residential assets in California, USA. Second issuance of the affordable housing thesis, operated by Castellan Real Estate Partners. Covers 35+ projects across 25 California cities via the LIHTC program, with 600,000 m² of area and 630 units. For international qualified investors seeking ESG-aligned US affordable housing exposure.
- CIX GD Energia Solar FII RL Real Estate Investment Fund (FII) focused on acquiring assets or real estate rights for leasing to companies in the distributed solar energy generation sector, with 4 power plants located in Cajuru, SP and Montes Claros, MG, Brazil. For investors seeking income-producing real estate exposure to the renewable energy sector.
- CIX AHS Multifamily Income Bond I Euroclear-listed Bond launched in 2021 to acquire multifamily residential properties in South Florida, USA, operated by Resia (subsidiary of MRV Engenharia). Portfolio of 11 buildings and 358 units spanning 26,670 m², with a focus on capital preservation and quarterly income distribution. For international investors seeking US multifamily exposure.
- CRI Permuta MRV Real Estate Receivables Certificate (CRI) backed by receivables from land development B2B sales to MRV Engenharia, structured through a financial exchange modality. Backed by receivables from 4 development projects under construction, covering 59,810 m² and 1,360 units in the credit segment. For investors seeking credit exposure to Brazilian real estate developers.
- Transinc FII Real Estate Investment Fund (FII) created in 2013 focused on income from health sector office rentals. Portfolio consists of an 11,571 m² property at 508 Green Park in São Paulo's Jabaquara district. For investors seeking corporate/healthcare real estate rental income.
- CIX COFE US Properties Fund Industrial-focused offshore fund based in the Cayman Islands dedicated to buying and selling real estate assets in Florida, USA. Pioneering fund in the CIX COFE Club Deals family, launched in 2016. For international investors seeking US real estate exposure through a regulated offshore structure.
- CIX COFE Club Deals Club deal investment structure for Brazilian investors to access US real estate opportunities, offering 18 projects with 495 units across various US markets. For qualified investors seeking direct exposure to US real estate club deals with minimum tickets starting at USD 250,000.
- CIX Flagler Healthcare Fund Joint venture fund with Sphere Investments (formerly Flagler Healthcare) focused on acquiring medical clinics and outpatient facilities (Medical Office Buildings) in major US metropolitan areas. Portfolio includes 11 MOB assets in Florida, Texas, Nevada, Oklahoma, and California, targeting medical specialties including Neurology, Orthopedics, Oncology, and Gastroenterology, and using proprietary Big Data algorithms for site selection. For investors seeking US healthcare real estate exposure.
- Terraces @ Nomad Residential development project in Manhattan, New York with 49 apartments for traditional rental and subsidized housing, including 15 units for low and middle-income essential workers. For investors participating in a single-asset US multifamily development deal.
- FIP Share Student Living First fund of its kind in Brazil for student housing development, focused on purpose-built student accommodation near universities through partnership with Share Student Living. For investors seeking exposure to the Brazilian student housing real estate niche.
- Rooftop @Brickell Direct club deal multifamily development project in Miami's Brickell neighborhood, Florida, with a minimum investment ticket of USD 250,000 and expected returns of 10-15% annually with quarterly distributions. For qualified investors seeking direct exposure to a single US multifamily development project.
Quantifiable outcome
- R$ 8+ billion in completed transactions since 2012
- +3 more outcomes
Companies that use CIX Capital
Customer profileNamed customers8 records
Segments5 records
Ideal customer profiles4 records
CIX Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
CIX Capital partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core, flagship and minor.
- GreystarcoreGlobal real estate investment firm partnering with CIX Capital for property management operations of US multifamily portfolio. The agreement covers management of over 1,900 rental contracts. Greystar is a leading global apartment operating company with extensive experience in multifamily operations across US markets.
- MRV EngenhariacoreBrazil's largest homebuilder and strategic development partner for residential projects. MRV operates in the US through subsidiary Resia. Partnership includes land development projects (Itapuranga FII), CRI structures (CRI Permuta MRV), and multifamily investments. MRV brings scale, execution capability, and market access across multiple Brazilian markets.
- Resia (MRV US subsidiary)coreUS subsidiary of MRV Engenharia specializing in multifamily development. Operator for CIX AHS Multifamily Income Bond I in South Florida with 11 buildings and 358 units. Resia has been operating in the US market for nearly a decade with integrated development, construction, and property management. Won Developer of the Year award twice from LBA and Top Developer from South Florida Business Journal.
- Castellan Real Estate PartnerscoreOperator and development partner for CIX ESG Affordable Housing Bond II, structuring affordable housing projects in California. The partnership manages pre-development phases for residential projects supported by LIHTC (Low-Income Housing Tax Credit) program. Castellan brings expertise in government-supported affordable housing development with track record across California communities.
- Andbank BrazilflagshipDistribution partner offering feeder fund structure enabling Brazilian investors to access US real estate opportunities through CIX products. The partnership provides regulatory-compliant structure for international real estate investment with Andbank's wealth management platform.
- Sphere Investments (formerly Flagler Healthcare)coreJoint venture partner for CIX Flagler Healthcare Fund investing in Medical Office Buildings across US markets. Sphere uses Big Data and proprietary algorithms for investment analysis. Portfolio includes 11 MOB assets in Florida, Texas, Nevada, Oklahoma, and California states targeting medical specialties including Neurology, Orthopedics, Oncology, and Gastroenterology.
- Direcional EngenhariaminorBrazilian homebuilder partner for land development projects in Manaus through Itapuranga FII. One of several developer partners in the Jardins da Ponta Negra masterplan project.
Scale indicators8 records
Recent moves11 records
Expansion highlights6 records
CIX Capital competitors and assessment
Company assessmentDirect peers
- TRX Real Estate: TRX (TRX Real Estate Gestora de Recursos) is a specialized Brazilian FII manager with a public-market B3-listed product focus. Highly comparable to CIX on the FII product line, distribution via B3, and the credit-and-equity real estate strategy mix.
- Kinea Investimentos: Kinea is one of Brazil's largest alternative asset managers and a leading FII/CRI sponsor, with active strategies across real estate credit, equity, and development. It competes head-on with CIX for Brazilian institutional and HNWI allocation to FIIs, CRIs, and structured real estate vehicles.
- Capitânia Investimentos: Capitânia is a Brazilian alternative asset manager with real estate, private credit, and infrastructure strategies including FII vehicles. Comparable to CIX in its use of listed and feeder structures to deliver Brazilian real estate exposure to qualified investors.
- Hedge Investments: Hedge Investments is a Brazilian multi-strategy asset manager with a sizable real estate vertical spanning FIIs and real estate credit funds. It overlaps with CIX on listed FII distribution and structured real estate products for retail and HNWI investors.
- VBI Real Estate: VBI Real Estate is a Brazilian asset manager focused exclusively on listed FIIs (Fundos Imobiliários) and structured real estate credit. It is a direct competitor for Brazilian investor allocation in the same FII/CRI product category that anchors CIX's domestic offering.
- Bresco Real Estate: Bresco is a Brazilian real estate investment manager that owns and manages institutional-grade commercial properties and operates investment vehicles (including FIIs and CRAs). It is a credible peer for CIX given CIX's CRE income components (e.g., Transinc FII) and capital-markets-facing real estate activity.
- Jive Investments (formerly Mauá Capital): Jive (formerly Mauá Capital) was CIX's historical joint-venture partner when the firm operated as Zogbi Mauá. It is one of Brazil's longest-standing independent real estate investment managers and a direct competitor in structuring FIIs, CRIs, and real estate credit mandates.
Broad incumbents
- BTG Pactual Asset Management: BTG Pactual operates one of Brazil's largest asset management franchises, with significant FII, credit, and real estate verticals. While much broader than CIX, it competes for the same institutional and HNWI mandates in the FII/CRI universe.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
CIX Capital social profiles
Digital presenceCIX Capital compliance and trust
Trust signalCompliance1 record
CIX Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
CIX Capital leadership team
Management profileNumber of profiles
Profiles12 records
CIX Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CIX Capital M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CIX Capital
What does CIX Capital do?
CIX Capital is a real estate investment management firm that originates, structures, and actively manages a diversified portfolio of real estate investment vehicles in Brazil and the United States. It offers products such as Real Estate Investment Funds (FIIs), Real Estate Receivables Certificates (CRIs), Euroclear-listed bonds, and offshore Cayman funds focused on residential land development, affordable housing, multifamily, healthcare, and energy assets. The firm provides qualified investors, family offices, and institutional clients with curated, professionally managed exposure to cross-border real estate opportunities.
Is CIX Capital a public or private company?
CIX Capital is a private company. It is classified as family owned and is currently operating.
When was CIX Capital founded?
CIX Capital was founded in 2012. It employs 11 to 50 people.
Where is CIX Capital based?
CIX Capital is headquartered in São Paulo, Brazil, in the Latin America region.
How does CIX Capital make money?
Three revenue lines are on record. Asset Management Fees are the primary driver. The others are performance/Incentive Fees and structuring Fees.
Who are CIX Capital's main competitors?
Direct peers on record are TRX Real Estate, Kinea Investimentos, Capitânia Investimentos, Hedge Investments, VBI Real Estate, Bresco Real Estate and Jive Investments (formerly Mauá Capital). BTG Pactual Asset Management is listed as a broad incumbent.
Does CIX Capital have an API?
No public API is recorded for CIX Capital.
What industry is CIX Capital in?
CIX Capital's product category is Real Estate Asset Management. Its primary akta.pro industry code is BPAJAMAB, Commercial Real Estate Asset Management, with a secondary code of BPAJANAE, Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing). Its NAICS code is 523940 and its SIC code is 6798.