REC

What REC does

REC Gestão de Recursos S.A., founded in 2015 and headquartered in São Paulo, is a CVM-authorized Brazilian asset manager and securities investment consultant focused on real estate. Its current product suite includes 10 real-estate investment-fund strategies spanning CRI-backed receivables, commercial properties, logistics and industrial assets, a fund-of-funds vehicle, and multistrategy or limited-liability vehicles. Fund shares are distributed through B3 and supported by dedicated investor-relations channels serving institutional and high-net-worth investors alongside exchange-based retail access.

REC does not disclose a proprietary core technology or platform architecture; its disclosed offering is regulated fund management and investment consulting. Revenue comes from recurring NAV-based administration, management and consulting fees. For example, RECR11 discloses a 0.20% annual administration fee and a 1.00% annual consulting fee on NAV, with a R$15,000 monthly administration-fee minimum, while other disclosed funds use different fee schedules. No current AUM or corporate revenue figure is provided.

Name

REC

Legal name

REC Gestão de Recursos S.A.

Website

https://rec-gestao.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

REC Gestão de Recursos S.A. is a São Paulo-based CVM-authorized asset manager and investment consultant that structures, manages, and distributes Brazilian real estate investment funds for retail and institutional investors.

Ownership category

akta.pro rank

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)

SIC

Real Estate Investment Trusts (6798), Asset-Backed Securities (6189)

akta.pro industry

PRIMARYBPAJAMAB

Commercial Real Estate Asset Management

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Real Estate Asset & Portfolio Management

SECONDARYFSALAFAH

Credit Risk Transfer (CRT) & Mortgage Credit Securities (CAS/STACR/ACIS)

Financial & Insurance/Mortgage & Housing Finance/Mortgage Loan Purchasing, Securitization & Secondary Market (MBS/Whole Loan)

Keywords

• Real estate funds
• Asset management
• Investment consulting
• Fund administration
• Fund of funds

Headquarters

HQ city

São Paulo

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Asset Management and Consulting Fees: REC generates revenue through management/administration fees and consulting fees charged on the net asset value (PL) of its real estate investment funds. Fee structures vary by fund: RECR11 charges 0.20% p.a. administration and 1.00% p.a. consulting; RECT11 charges 0.17% p.a. administration and 1.00% p.a. consulting; RELG11 charges 0.175% p.a. administration and 1.00% p.a. management; RECX11 charges 0.95% p.a. administration. Minimum monthly fees of R$ 15,000 apply for certain funds.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

REC is a CVM-authorized Brazilian asset manager and investment consultant that structures, distributes and administers Real Estate Investment Funds (FIIs) traded on B3. Its 10-fund lineup spans CRI-backed receivables (RECR11, FAMI11, RECD11, RMBS11), commercial property income (RECT11, RECM11), logistics and industrial assets (RELG11, RLGX11, REC ONE), and a fund-of-funds strategy (RECX11), with more than R$17 billion raised across 50+ structured FIIs.

Product overview

REC (Real Estate Capital) is a Brazilian asset management company and investment consultant authorized by CVM, founded in 2015, specializing in Real Estate Investment Funds (FIIs). The company operates a portfolio of 10 distinct real estate investment funds: RECR11 (receivables/fixed-income backed by CRIs), RECT11 (commercial real estate income), RELG11 (logistics properties), RECX11 (fund of funds), plus five additional CRI-focused funds (FAMI11, RECD11, RECM11, RMBS11), and two logistics-focused funds (REC ONE, RLGX11). The product suite spans receivables, direct property ownership (income-generating commercial and logistics assets), and fund-of-funds strategies, serving as a bridge between capital markets and the real estate productive sector with over R$17 billion raised across more than 50 structured FIIs.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• More than R$ 17 billion in resources raised across 50+ structured FIIs
• +1 more outcomes

Segments1 record

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and major.

• BRL Trust DTVM S.A.coreImplementation/ SI/ Consulting PartnerBRL Trust DTVM S.A. serves as the Administrator for the FII REC Renda Imobiliária (RECT11), handling fund administration, distribution, and investor services in accordance with CVM regulations.
• BTG Pactual Serviços Financeiros S.A. DTVMcoreImplementation/ SI/ Consulting PartnerBTG Pactual Serviços Financeiros S.A. DTVM serves as the Administrator for the FII REC Fundo de Fundos (RECX11), providing fund administration services.
• Apex Group BrazilmajorImplementation/ SI/ Consulting PartnerApex Group Brazil provides investor portal services (portal.apexgroupbrazil.com.br) for distributing income reports (Informes de Rendimentos) to fund investors, including automated assistance through virtual assistant Iris.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• XP Asset Management: XP Asset Management is one of the largest Brazilian asset managers and a dominant retail distributor via the XP brokerage platform. It competes broadly with REC across FII products but with much larger distribution scale and a wider product portfolio.
• BTG Pactual Gestora de Recursos: BTG Pactual is Brazil's largest independent investment bank and runs a major asset management arm with multiple FIIs and CRIs — including serving as administrator for some REC funds. It is a broad incumbent across the same product categories as REC, but at vastly larger scale.
• Itaú Asset Management: Itaú Asset Management is Brazil's largest asset manager and runs several listed FIIs alongside a vast traditional fund lineup. It competes with REC for retail FII allocation but operates across all asset classes at massive scale.

Direct peers

• Kinea Investimentos: Kinea is one of Brazil's largest alternative asset managers and a major FII sponsor with diversified real estate strategies (receivables, logistics, commercial, FoFs). It is the most direct Brazilian comparison to REC given overlapping FII product types and institutional retail distribution on B3.
• Vinci Partners: Vinci Partners is a leading Brazilian alternative asset manager with dedicated real estate strategies including listed FIIs and private real estate funds. Comparable to REC as a competing real estate-focused asset manager in Brazil, though at materially larger scale.
• Hedge Investments: Hedge Investments is a Brazilian multi-strategy firm running several listed FIIs across real estate strategies including CRI receivables and direct property funds. Closely comparable boutique-style FII sponsor competing in the same B3 retail segment as REC.
• Capitânia Investimentos: Capitânia is a Brazilian asset manager specializing in structured credit and real estate funds (FIIs and CRIs). It directly competes with REC across CRI-based receivables funds and is comparable in size and boutique positioning.
• Rio Bravo Investimentos: Rio Bravo is a long-established Brazilian asset manager focused on real estate funds (FIIs), with a similar mix of receivables, logistics, and commercial strategies. It is a directly comparable FII manager serving retail investors on B3.
• VBI Real Estate (VBI Asset Management): VBI Real Estate is a Brazilian asset manager specializing in listed FIIs and private real estate vehicles with a focus on income-generating assets. It is a direct competitor to REC in the Brazilian listed FII segment.

Regional players

• TRX (now under Itau Private): TRX was a Brazilian FII manager founded by former Pactual professionals; it operates a portfolio of listed real estate funds comparable to REC's mix of receivables and direct property strategies. It now sits under Itau's platform but is a useful pre-acquisition comparable for boutique FII managers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/recgestaoderecursos
• Instagraminstagram.com/recgestao

Revenue estimate

Valuation estimate

Number of profiles

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 REC