BlueMacaw
BlueMacaw is a São Paulo-based alternative asset manager founded in 2019 as a Blackstone spin-out, managing approximately R$2 billion across four B3-listed real estate funds covering logistics, office, fund-of-funds, and credit strategies for retail and institutional investors.
- Company typePrivate
- Founded2019
- HeadquartersSão Paulo, Brazil
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
What BlueMacaw does
BlueMacaw is a São Paulo-based alternative asset manager founded in January 2019 by Marcelo Fedak and other partners as a spin-out from Blackstone's Latin America real estate business. The firm manages a portfolio of listed real estate investment funds (FIIs) on Brazil's B3 exchange under the tickers BLMG11 (logistics), BLMO11 (office), BLMR11 (fund of funds), and BLCM11 (real estate credit/CRI), collectively representing approximately R$2 billion in assets under management as of the most recent disclosures. The firm targets institutional and qualified retail investors seeking inflation-hedged, professional-managed exposure to Brazilian real estate across logistics, corporate office, retail, and credit strategies.
The business operates on a traditional asset-management revenue model, earning management fees on AUM and performance/incentive fees aligned with fund returns. Distribution is executed through B3-listed fund quotas accessible via any Brazilian brokerage, supplemented by a strategic minority partnership with XP Inc., Brazil's largest retail broker, which took a stake in August 2020 to broaden investor reach. The firm pursues deal flow through proprietary origination, partnerships with co-investors such as Catuaí Asset (Pátio Malzoni, R$365M in 2021), and team-level relationships inherited from predecessors at BTG Pactual and Blackstone. Notable single-asset acquisitions include the Novotel Berrini, CENESP, six units at Centro Empresarial Nações Unidas (R$35.65M, January 2020), and an announced Tower Bridge (TBOF11) tender offer.
Operationally, BlueMacaw is a boutique organization with 1–10 employees, headquartered at Av. Brigadeiro Faria Lima 2.179 in São Paulo. The team comprises partners with prior experience at Blackstone, BTG Pactual, Goldman Sachs, Credit Suisse, GLP, and RB Capital. The firm became a UN Principles for Responsible Investment signatory in 2019, signaling ESG governance alignment. No proprietary technology platform or AI-driven investment tooling is disclosed; investment processes rely on fundamental real-estate analysis, sector expertise, and disciplined underwriting.
BlueMacaw firmographics
Firmographics- Name
- BlueMacaw
- Legal name
- BlueMacaw
- Website
- https://bluemacaw.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- BlueMacaw is a São Paulo-based alternative asset manager founded in 2019 as a Blackstone spin-out, managing approximately R$2 billion across four B3-listed real estate funds covering logistics, office, fund-of-funds, and credit strategies for retail and institutional investors.
- Ownership category
- akta.pro rank
BlueMacaw industry classification
Industry- Product category
- Alternative Asset Management (Real Estate)
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Special Purpose & Alternative Asset Brokerage (BPAJABAH)
- akta.pro secondary industries
- Real Estate Private Credit (CRE Debt) (FSANADAG), Balance-Sheet / Portfolio CRE Lending (FSALADAG)
Keywords
Where BlueMacaw is headquartered
LocationHeadquarters
- HQ city
- São Paulo
- HQ country
- Brazil
- HQ region
- Latin America
Offices1 record
Markets served
BlueMacaw business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Marketing or Sales, Operations, Others
Revenue model
- Asset Management Fees: Management fees charged on assets under management across their portfolio of listed real estate funds (BLMG11, BLMO11, BLMR11, BLCM11). Fees support ongoing portfolio management, investor relations, and operational expenses.
- Performance/Incentive Fees: Performance-based fees aligned with fund returns and capital appreciation for investors. Supports meritocratic compensation structure and aligns manager interests with investor outcomes.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | BlueMacaw Logística FII (BLMG11) - Listed logistics REIT |
| Subscription | Monthly | BlueMacaw Renda+ FoF FII (BLMR11) - Fund of Funds |
| Subscription | Monthly | BlueMacaw Office Fund II (BLMO11) - Office REIT |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels7 records
BlueMacaw product offering
Product offeringCore offering
BlueMacaw is a Brazilian alternative asset manager that sponsors and manages a portfolio of listed real estate investment funds (FIIs) on the B3 stock exchange. Its product suite covers three strategies — Core+ stabilized income assets, Opportunistic value-add/distressed assets, and Credit — delivered through four named funds: a fund of funds (BLMR11), a logistics REIT (BLMG11), an office REIT (BLMO11), and a real estate credit fund investing in CRI (BLCM11). The firm serves retail investors via brokerage access and institutional investors via direct relations, earning management and performance fees.
Product overview
BlueMacaw is an alternative asset manager offering a portfolio of real estate investment products across three investment strategies: Core+ (stabilized assets with income generation), Opportunistic (value-add and distressed assets), and Credit (creative financing solutions). The product suite includes four distinct funds: BlueMacaw Renda+ FoF (BLMR11) - a fund of funds REIT; BlueMacaw Logística FII (BLMG11) - a logistics REIT focused on warehouses and e-commerce; BlueMacaw Office Fund II (BLMO11) - an office REIT; and CRI Fund (BLCM11) - a credit fund investing in real estate receivables. The company manages approximately R$2 billion in assets under management.
Differentiator
Problem solved
Functional benefit
Brands
- BlueMacaw Renda+ FOF (BLMR11): Fund of Funds REIT targeting strong dividend flow coupled with capital gains
- BlueMacaw Logística FII (BLMG11)
- BlueMacaw Office Fund II (BLMO11)
- CRI (BLCM11)
Products and services
- BlueMacaw Renda+ FoF FII (BLMR11) A listed fund of funds REIT that invests in other real estate investment funds, targeting strong dividend flow combined with capital gains, for retail and qualified investors seeking diversified FII exposure.
- BlueMacaw Logística FII (BLMG11) A listed logistics REIT focused on investments in modern logistics warehouses and industrial assets, targeting income generation and capital appreciation with exposure to the e-commerce secular trend.
- BlueMacaw Office Fund II (BLMO11) A listed office-focused REIT investing in corporate office buildings in prime São Paulo locations (including Faria Lima and Berrini districts) for rental income and capital appreciation.
- CRI Fund (BLCM11) A listed credit fund that invests in Certificates of Real Estate Receivables (CRI), providing creative financing solutions throughout the capital structure and risk spectrum for investors seeking real estate credit exposure.
Quantifiable outcome
- Dividend yields of approximately 6.2% for logistics FIIs vs 7.0% market average (as of March 2021)
- +2 more outcomes
Companies that use BlueMacaw
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles2 records
BlueMacaw technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
BlueMacaw partnerships and signals
Strategic signalScale indicators7 records
Recent moves12 records
Expansion highlights5 records
BlueMacaw competitors and assessment
Company assessmentDirect peers
- SPX Capital: Brazilian alternative manager with multi-strategy offerings including real estate and credit. Competes in the B3-listed FII and private credit categories.
- Vinci Partners: Listed Brazilian alternative asset manager (VINCI3 on B3) with overlapping strategies in real estate, credit, and fund of funds. Most directly comparable Brazilian alt manager by product breadth and listed structure.
- AF Invest: Brazilian asset manager focused on real estate credit (CRIs) and listed FIIs. Direct competitor in the credit/receivables strategy (BLCM11) segment.
- Hedge Investments: Independent Brazilian alternative manager with listed real estate and credit vehicles. Comparable mid-size, multi-strategy alt manager competing in the same B3 FII marketplace.
- HSI Asset Management: Brazilian alternative manager with FII and structured credit offerings. Competes in the same listed real estate and credit fund categories.
- IBIUNA Investimentos: Brazilian alternative manager with macro and credit strategies, including real estate credit exposure. Comparable size and Brazilian institutional LP positioning.
- Capitânia Investimentos: Brazilian alternative manager offering listed FIIs and credit strategies (CRIs). Operates in the same B3-listed FII segment as BlueMacaw with overlapping investor base.
- Kinea Investimentos: One of Brazil's largest alternative asset managers (private, Itaú-controlled) with a major FII platform across logistics, office, and credit. Directly competes for B3-listed investor capital.
Broad incumbents
- BTG Pactual Asset Management: Asset management arm of Brazil's largest investment bank. Incumbent competitor with significant FII AUM; BlueMacaw's founding team (Fedak, Dib, Aguiar) previously built BTG's real estate franchise.
- XP Asset Management: Asset management arm of XP Inc., BlueMacaw's strategic distribution partner and minority shareholder. Competes for the same retail and qualified-investor capital across Brazilian FII categories.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
BlueMacaw social profiles
Digital presenceBlueMacaw financial estimates
Financial estimateRevenue estimate
Valuation estimate
BlueMacaw leadership team
Management profileNumber of profiles
Profiles5 records
BlueMacaw funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BlueMacaw 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 BlueMacaw
What does BlueMacaw do?
BlueMacaw is a Brazilian alternative asset manager that sponsors and manages a portfolio of listed real estate investment funds (FIIs) on the B3 stock exchange. Its product suite covers three strategies — Core+ stabilized income assets, Opportunistic value-add/distressed assets, and Credit — delivered through four named funds: a fund of funds (BLMR11), a logistics REIT (BLMG11), an office REIT (BLMO11), and a real estate credit fund investing in CRI (BLCM11). The firm serves retail investors via brokerage access and institutional investors via direct relations, earning management and performance fees.
Is BlueMacaw a public or private company?
BlueMacaw is a private company. It is classified as venture growth investor backed and is currently operating.
When was BlueMacaw founded?
BlueMacaw was founded in 2019. It employs 1 to 10 people.
Where is BlueMacaw based?
BlueMacaw is headquartered in São Paulo, Brazil, in the Latin America region.
How does BlueMacaw make money?
Two revenue lines are on record. Asset Management Fees are the primary driver. The others are performance/Incentive Fees.
Who are BlueMacaw's main competitors?
Direct peers on record are SPX Capital, Vinci Partners, AF Invest, Hedge Investments, HSI Asset Management, IBIUNA Investimentos, Capitânia Investimentos and Kinea Investimentos. Broad incumbents are BTG Pactual Asset Management and XP Asset Management.
Does BlueMacaw have an API?
No public API is recorded for BlueMacaw.
What industry is BlueMacaw in?
BlueMacaw's product category is Alternative Asset Management (Real Estate). Its primary akta.pro industry code is BPAJABAH, Special Purpose & Alternative Asset Brokerage, with a secondary code of FSANADAG, Real Estate Private Credit (CRE Debt). Its NAICS code is 523940 and its SIC code is 6282.