What RioBlanco Capital does

RioBlanco Capital LLC is a privately held, San Juan, Puerto Rico-based investment management firm founded in 2015 by Gabriel Jimenez and Olivier Gillier. The firm manages capital across two primary verticals: a Puerto Rico- and Miami-focused real estate portfolio (nine developments including Centro Europa, San Jose Building, The Icon, The Legacy, The Grove, Le Parc, Stop 22, Miami-Allapattah, and Aguadilla Hotel) and a private equity portfolio spanning F&B franchising (Qdoba), entertainment (Summit Trampoline Park, Combate Global), and healthcare (Capital RX). It also offers fund administration through an AppFolio-powered Investor Portal that provides LPs real-time performance, asset-level detail, and document management.

The firm generates revenue through asset management fees on deployed capital, real estate development economics (rental income, appreciation, sale proceeds on completed projects such as the sold-out Le Parc), property management income on stabilized assets (Centro Europa and San Jose Building, both at 99% occupancy across 300,000+ combined square feet), and select franchising and advisory fees. Minimum equity commitments start at $5M, positioning the firm squarely with high-net-worth and family-office capital rather than retail or mass-affluent investors.

Distribution is relationship-driven: the firm sources investors directly, deploys through co-investment structures with operating partners (RB Ricman LLC for property management, Motto by Hilton for hospitality, SUMMIT for entertainment), and relies on the Investor Portal as its post-close engagement surface. The senior team, including co-founders with Merrill Lynch and Citigroup backgrounds, a CFO with 30 years of multinational finance experience, and a Senior Advisor who is a former Credit Suisse Managing Director, underwrites both real estate repositioning and PE operating value-creation in markets where institutional-quality local operators are scarce.

Name

RioBlanco Capital

Legal name

RioBlanco Capital LLC

Website

https://rioblancocapital.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

RioBlanco Capital is a San Juan, Puerto Rico-based investment management firm founded in 2015 that deploys high-net-worth capital across a nine-asset real estate portfolio (Puerto Rico and Miami) and four private equity positions in F&B, entertainment, healthcare, and sports, charging asset management fees on $5M+ minimum commitments.

Ownership category

akta.pro rank

Product category

Investment Management (Private Equity & Real Estate)

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

OCIO Providers (Outsourced CIO) (FSAAAGAH)

akta.pro secondary industries

Institutional Capital Introduction (LP/Family Office/Endowment Matching) (FSAEALAI), Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)

Keywords

• Private equity investments
• Real estate development
• Investment management
• Asset management
• Capital management

Headquarters

HQ city

San Juan

HQ country

Puerto Rico

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Asset Management Fees: RioBlanco Capital generates revenue through asset management fees charged on the assets under management across its real estate and private equity portfolio.
2. Real Estate Development Returns: The firm participates in real estate development projects, generating returns through property appreciation, rental income, and sale proceeds upon project completion.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

RioBlanco Capital is a private investment management firm that deploys investor capital into a portfolio of real estate developments and private equity holdings across Puerto Rico, the continental United States, and Latin America. The firm offers qualified investors access to value-add real estate projects (residential, commercial, hospitality) and control-oriented private equity investments in the entertainment, healthcare, and food & beverage sectors, with equity tickets starting at $5 million. An AppFolio-powered Investor Portal provides real-time portfolio reporting and document management to limited partners.

Product overview

RioBlanco Capital is a capital management firm with two primary business lines: Real Estate and Private Equity. The Real Estate portfolio includes nine distinct developments across Puerto Rico and Miami: Le Parc (35 luxury condos, delivered), Centro Europa (commercial property, 99% occupied), Stop 22 Adaptive Reuse (converting to Motto by Hilton), The Icon (30 luxury condos, delivery Q4 2026), The Legacy (44 residential units, under construction), The Grove (8 townhomes, under construction), San Jose Building (commercial, 99% occupied), Miami-Allapattah (140 apartments), and Aguadilla Hotel (125+ keys). The Private Equity portfolio includes four investments: Qdoba restaurant franchise, Summit Trampoline Park entertainment centers, Capital RX pharmacy benefits management, and Combate Global MMA sports franchise. The firm also offers an Investor Portal technology platform for portfolio monitoring and document management.

Differentiator

Problem solved

Functional benefit

Products and services

• Investor Portal AppFolio-powered technology platform that gives qualified investors real-time visibility into RioBlanco's real estate and private equity portfolio, including performance metrics, asset-level information, and document management, accessible via secure login at investors.appfolioim.com/rioblancocapital.
• Le Parc Luxury residential condominium project in San Juan, Puerto Rico comprising 35 residences with floor-to-ceiling glass and expansive terraces, plus over 25,000 square feet of amenities. The project has been delivered and sold out.
• Centro Europa Commercial property in San Juan, Puerto Rico offering over 160,000 square feet of rentable commercial space and 500+ parking spots, with a remodeled lobby and elevators. Operated at 99% occupancy following renovation.
• Stop 22 - Motto by Hilton Adaptive Reuse Office building in San Juan being converted into a Motto by Hilton hotel with 100 keys, leveraging brand scarcity, density-driven unit economics, adaptive-reuse fit, and first-mover positioning in San Juan's last underpenetrated urban node.
• The Icon Luxury condominium development in Puerto Rico comprising 30 units with three levels of indoor/outdoor amenities and 24/7 dedicated staff service. Delivery is expected in Q4 2026.
• The Legacy Residential development in Puerto Rico featuring 44 units ranging from 2 to 3 bedrooms, with high-quality finishes including modern kitchens and porcelain bathrooms. Ground-breaking in 2026, currently under construction.
• The Grove Exclusive collection of eight townhomes in Puerto Rico with European-inspired finishes, four spacious levels, 6,300 square feet of interior space, four bedrooms, private rooftop, gym, terrace, and pool, situated steps from the beach. Under construction with delivery in 2027.
• San Jose Building Commercial building on Avenida Ponce de León in Santurce, adjacent to the Museo de Arte Contemporaneo. Acquired in 2019 and extensively renovated, now home to 40+ commercial tenants across 140,000 square feet and operating at 99% occupancy.
• Miami - Allapattah 140-unit apartment development in Miami's Allapattah neighborhood, west of I-95 adjacent to Wynwood and near Miami's Health District. Investment of $50M+ initiated in 2025.
• Aguadilla Hotel Hotel development in Aguadilla, Puerto Rico with 125+ keys and ocean views, with construction starting in 2026.
• Qdoba (Franchise Investment) Private equity investment in Qdoba Mexican Eats, a Mexican-style fast-casual restaurant chain, brought to Puerto Rico through a partnership with a seasoned local operator with 30+ years of food and restaurant industry expertise. One restaurant operating and two under construction.
• Summit Trampoline Park Private equity investment in SUMMIT, the fastest-growing entertainment parks company and largest in Latin America, headquartered in Puerto Rico, operating premier trampoline facilities. RioBlanco contributes financial controls and market analysis while SUMMIT leads park development, operations, and marketing.
• Capital RX Private equity investment in Capital Rx, a pharmacy benefits manager founded in 2017 to deliver complete alignment for clients, drive down drug costs, create transparency, pass through rebates, and build modern cloud-native enterprise infrastructure (the JUDI platform) for pharmacy operations.
• Combate Global Private equity investment in Combate Global (Global Combat, LLC), the first American mixed martial arts sports franchise specifically created to develop Latino fighting champions and targeting Hispanic 'super fans'. Co-founded by Campbell McLaren, creator of the UFC.

Quantifiable outcome

• 99% occupancy achieved at Centro Europa commercial property
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• RB Ricman LLCcoreChannel Partner/ Reseller/ DistributorRB Ricman LLC is a property management group and Partner of RioBlanco. Ricardo Rodriguez serves as Partner of RioBlanco Ricman LLC (DBA RB Ricman LLC), overseeing the management of the property management group and its employees with 20 years of extensive property management experience.
• Motto by HiltoncoreStrategic or Co-development PartnerStop 22 property is being converted into a Motto by Hilton hotel. The combination of brand scarcity, density-driven unit economics, adaptive-reuse fit, and first-mover positioning in San Juan's last underpenetrated urban node presents a risk-adjusted return profile.
• Summit Trampoline ParkcoreStrategic or Co-development PartnerSUMMIT is the fastest-growing entertainment parks company and the largest in Latin America. RioBlanco's expertise in financial controls and market analysis, coupled with SUMMIT's deep knowledge of park development, operations, and marketing, forms a strategic partnership driving SUMMIT's ongoing growth.
• QdobacoreChannel Partner/ Reseller/ DistributorRioBlanco brings Qdoba's Mexican-style cuisine to new markets through a partnership with a seasoned local operator with over 30 years of expertise in the food and restaurant industry. With franchising license secured, one restaurant is in operation and two more under construction.
• ICLA Da Silva FoundationminorOthersOlivier Gillier serves as member of the board of trustees of the ICLA Da Silva Foundation.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Starwood Capital Group: Global investment firm focused on real estate and opportunistic credit. Comparable in deploying value-add and repositioning strategies across hospitality, multifamily, and commercial assets.
• ICG (Intermediate Capital Group): Global alternative asset manager with real estate, private debt, and PE strategies. Comparable in multi-strategy alternatives platform serving institutional and HNW investors.
• Ares Management: Large-scale alternative asset manager with substantial real estate, private equity, and credit strategies. Provides the broader-incumbent benchmark for diversified RE + PE fee economics and platform scalability.

Direct peers

• Ballast Rock Private Wealth: Caribbean-based boutique multi-strategy investment and wealth management firm serving HNW and family office clients. Comparable in scope (real assets + alternatives) and geographic focus on the Caribbean/Latin America corridor.
• Lubert Adler: Real estate and private equity investment manager operating across opportunistic value-add and operating-partnership strategies. Closely matches RioBlanco's hybrid RE + PE model and value-add repositioning playbook.
• Crow Holdings Capital: Diversified real estate investment manager with a focus on opportunistic and value-add strategies alongside operating platforms. Comparable diversified RE strategy and discretionary capital deployment.
• Palladium Equity Partners: US-based middle-market PE firm with explicit focus on Hispanic/Latino-oriented businesses and Latin America exposure. Comparable thesis of capturing cross-border investment opportunities via cultural and regional expertise.

Emerging players

• Wheelhouse Capital: Boutique investment manager focused on alternative assets and operating platforms. Comparable boutique scale with multi-strategy RE + PE positioning.

Regional players

• Aventura Real Estate / PR Real Estate Developers: Established Puerto Rico-based real estate developer and investment firm. Comparable PR geographic footprint and luxury residential / commercial development orientation.
• Popular Wealth Management: Wealth management arm of Popular, Inc. (PR's largest financial institution). Serves HNW and institutional clients in Puerto Rico with similar real estate and alternative-asset offerings, though embedded in a much larger bank holding.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RioBlanco Capital