RB Asset
RB Asset is a São Paulo-based independent Brazilian asset manager founded in 2007, managing R$ 3 billion+ across FII real estate, infrastructure debenture, and FIDC consignado credit funds for retail and qualified investors.
- Company typePrivate
- Founded2007
- HeadquartersSão Paulo, Brazil
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What RB Asset does
RB Asset Management Ltda. is a Brazilian independent asset manager founded in 2007 and headquartered in São Paulo, operating three alternative-investment verticals: real estate (FIIs across commercial income, logistics, residential development, and fund-of-funds vehicles), infrastructure (open and closed-end incentive-debenture funds under Lei 12.431), and consigned credit (FIDCs structured with senior/mezzanine/subordinate tranches for professional and qualified investors). The firm manages more than R$ 3 billion in AUM and has executed over R$ 9 billion in cumulative investments since inception, charging management fees of 0.17%–2.0% p.a., fixed monthly administration fees on certain vehicles, and 17.5%–20% performance fees above benchmarks such as IFIX, CDI, IMA-B 5 and IPCA-linked rates. Distribution occurs exclusively through third-party Brazilian brokerages and digital platforms (BTG Pactual, Itaú Unibanco/íon, C6 Bank, PicPay Invest, CM Capital, Daycoval, Sofisa, Ativa), with closed-end and credit vehicles distributed privately to qualified investors.
The company is led by co-founders and co-CEOs Regis Dall'Agnese and Marcelo Michaluá, supported by a partner bench covering products/structuring/compliance (Denise Kaziura), consigned credit (Renato Peres), structured assets (Eric Favero), technology (Marcello Drewanz), liquid funds and research (Rafael Ohmachi), and incentive debentures (Murilo Loureiro). Its product portfolio comprises approximately fifteen listed FIIs (CXAG11, FIIP11, RBRD11, RBLG11, REME11, RFOF11, RBDS11, RSPD11, RBIR11, DRIM11, RBTS11), four infrastructure vehicles (RB Capital Debêntures Incentivadas FIC, RB Vitória, RB Debêntures Incentivadas Inflação, DBIN11), two FIDC credit funds (Credit Alpha Strategy I, Facta INSS CB), and wholly-owned subsidiary Simplix, which specializes in technology-driven retail consignado credit. In November 2025, RB Asset entered a cross-shareholding alliance with wealth-management firm GHT4 to integrate distribution capabilities.
RB Asset firmographics
Firmographics- Name
- RB Asset
- Legal name
- RB ASSET MANAGEMENT LTDA
- Website
- https://rbasset.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- RB Asset is a São Paulo-based independent Brazilian asset manager founded in 2007, managing R$ 3 billion+ across FII real estate, infrastructure debenture, and FIDC consignado credit funds for retail and qualified investors.
- Ownership category
- akta.pro rank
RB Asset industry classification
Industry- Product category
- Alternative Asset Management
- NAICS
- Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)
- akta.pro secondary industries
- Real Assets — Fund-of-Funds & Secondaries (FSAAAKAK), Real Assets Fund of Funds (Real Estate / Infrastructure / Natural Resources FoF) (FSAHAKAG)
Keywords
Where RB Asset is headquartered
LocationHeadquarters
- HQ city
- São Paulo
- HQ country
- Brazil
- HQ region
- Latin America
Offices1 record
Markets served
RB Asset business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Management Fees - Real Estate Funds (FIIs): RB Asset charges annual management fees on its real estate investment funds (FIIs), ranging from 0.58% to 2.0% per annum on net equity or fund value. These are ongoing recurring fees charged for active portfolio management of commercial, residential development, and logistics properties.
- Management Fees - Infrastructure/Debenture Funds: Annual management fees on infrastructure debenture funds, ranging from 0.80% to 0.95% per annum on net assets under management. These funds invest in incentivized debentures under Brazilian Infrastructure Law 12.431.
- Management Fees - FIDC Credit Funds: Management fees on FIDC (Investment Fund in Credit Rights) products, including 1.5% p.a. on net equity for Credit Alpha Strategy I FIDC and 0.2% p.a. for Facta INSS CB FIDC, plus fixed monthly administration fees.
- Performance Fees (Taxa de Performance): Performance-based fees on certain funds, including 20% of returns exceeding a benchmark (e.g., IFIX for RFOF11, IPCA+8% for DRIM11). The Credit Alpha Strategy I FIDC charges 20% of the net present value of junior subordinate quotas.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | FII Caixa Agências (CXAG11) - 0.58% p.a. management fee on net equity or market value of the fund |
| Subscription | Monthly | FIIP11 - Fixed monthly fee of R$16,800 (start of fund), corrected annually by IPCA |
| Subscription | Annual | RBRD11 - Maximum 0.17% p.a. management fee |
| Outcome Based/ Performance | Annual | RBLG11 - 1.0% p.a. management fee plus 20% performance fee above IPCA+6% |
| Outcome Based/ Performance | Annual | DRIM11 - 1.7% p.a. management fee plus 20% performance fee above IPCA+8% |
| Outcome Based/ Performance | Annual | RBIR11 - 2.0% p.a. management fee plus 20% performance fee above INCC+8% |
| Outcome Based/ Performance | Annual | RSPD11 - 2% p.a. management fee plus 20% performance fee |
| Outcome Based/ Performance | Annual | RBDS11 - 2.0% p.a. management fee plus 20% performance fee above INCC+8% |
| Subscription | Annual | RB Vitória - 0.95% p.a. (0.30% feeder + 0.65% master), benchmark CDI, top performer |
| Subscription | Annual | RB Capital Debêntures Incentivadas FIC - 0.80% p.a., benchmark CDI, open for investment |
| Subscription | Annual | RB Debêntures Incentivadas Inflation - 0.80% p.a., benchmark IMA-B 5 |
| Subscription | Annual | DBIN11 - 0.90% p.a. total global fee, benchmark CDI+1%-2%, closed-end for qualified investors |
| Subscription | Monthly | RB Capital Credit Alpha Strategy I FIDC - 1.5% p.a. + R$32,000/month admin fee + 20% performance |
| Subscription | Monthly | Facta INSS CB FIDC - 0.2% p.a. + R$35,000/month admin fee, closed-end |
| Subscription | Annual | REME11 - 0.8% p.a. management fee, benchmark IFIX |
| Outcome Based/ Performance | Annual | RFOF11 - 0.8% p.a. management fee + 20% performance fee above IFIX |
Go-to-market motion1 record
Distribution channels10 records
Marketing channels6 records
RB Asset product offering
Product offeringCore offering
RB Asset is an independent Brazilian investment manager that structures and actively manages alternative investment funds across three pillars: real estate investment funds (FIIs) covering income properties, residential development, and fund-of-funds; infrastructure incentivized debenture funds under Brazilian Law 12,431; and INSS consigned credit FIDCs. The firm charges recurring management fees (0.17%–2.0% p.a.) plus performance fees on outperformance versus benchmarks, and distributes funds through major Brazilian brokerages and digital platforms.
Product overview
RB Asset é uma gestora de recursos financeiros independente, fundada em 2007, com mais de R$ 3 bilhões em ativos sob gestão. A empresa opera como plataforma multi-estratégia que não é um único produto unificado, mas sim um portfólio diversificado de veículos de investimento organizados em três pilares: (1) Imobiliário — fundos de investimento imobiliário (FIIs) de renda (Renda I, Renda II, Logístico, Caixa Agências), desenvolvimento residencial (Residencial II a V, TFO Situs) e fundo de fundos/papel (Fundo de Fundos, Multiestratégia); (2) Infraestrutura — fundos de debêntures incentivadas de infraestrutura (RB Capital Debêntures Incentivadas FIC, RB Vitória, RB Debêntures Incentivadas Inflação, e o fundo fechado DBIN11); e (3) Crédito Consignado — FIDCs de crédito consignado do INSS (Credit Alpha Strategy I e Facta INSS CB), operados total ou parcialmente via Simplix, sua investida especializada em crédito de varejo. A distribuição dos fundos é feita por meio de plataformas de investimento e homebrokers de corretoras.
Differentiator
Problem solved
Functional benefit
Products and services
- FII Caixa Agências (CXAG11) Closed-end real estate investment fund (FII) focused on acquiring Caixa Econômica Federal bank branches through sale-and-leaseback transactions distributed across São Paulo, Rio de Janeiro, Minas Gerais and Rio Grande do Sul, generating income for quota holders via long-term lease contracts. Charged 0.58% p.a. management fee on net equity or market value, no performance fee; portfolio reported 100% occupied.
- RB Capital Logístico FII (RBLG11) Closed-end real estate fund that invests directly and indirectly in logistics and industrial properties to generate rental income and capital gains. Charges 1.0% p.a. management fee plus 20% performance fee above IPCA + 6% benchmark, with a minimum monthly fee of R$20,000 updated annually by IGPM.
- RB Capital Renda I FII (FIIP11) Closed-end real estate fund focused on non-residential commercial properties (retail, big-box, distribution centers) across Brazil, generating income through lease contracts and capital gains from asset appreciation. Charged a fixed monthly fee of R$16,800 at fund inception, corrected annually by IPCA, with no performance fee; reported June 2026 dividend yield of 12.81% annualized.
- RB Capital Renda II FII (RBRD11) Closed-end real estate fund that invests in commercial built-to-suit (BTS) properties built and leased to national and multinational companies, providing returns via income distribution and asset appreciation. Maximum 0.17% p.a. management fee, no performance fee; portfolio 84% occupied and 17.98% annualized dividend yield.
- RB Desenvolvimento Residencial V FII (DRIM11) Closed-end real estate fund formed by three quota subclasses, aimed at investing in land-swap (permuta) operations for residential real estate developments in São Paulo (notably the Naeem high-standard Pinheiros project with Mitre Realty). Charged 1.7% p.a. management fee plus 20% performance fee above IPCA + 8% benchmark.
- RB Capital Desenvolvimento Residencial IV FII (RBIR11) Closed-end FII targeting physical and financial permuta (land-swap) operations in Brazilian residential projects and acquisitions of equity stakes in SPEs developing residential real estate. 2.0% p.a. management fee plus 20% performance fee above INCC + 8%; achieved 82% unit sales with 13 projects delivered and 97.84% average physical progress on ongoing constructions.
- RB Capital Desenvolvimento Residencial III FII (RSPD11) Closed-end FII that invests in physical and financial permuta operations of residential projects and acquires equity stakes in SPEs developing residential real estate in Brazil. 2% p.a. management fee plus 20% performance fee on outperformance vs the Remuneration Base.
- RB Capital Desenvolvimento Residencial II FII (RBDS11) Closed-end FII in liquidation phase, originally aimed at physical and financial permuta of residential projects and equity stakes in SPEs developing residential real estate. 2.0% p.a. management fee plus 20% performance fee above INCC + 8%.
- RB Capital TFO Situs FII (RBTS11) Closed-end real estate fund investing in physical and financial permuta of residential projects and acquiring equity stakes in SPEs developing residential real estate in different regions of Brazil.
- RB Capital I Fundo de Fundos FII (RFOF11) Real estate fund-of-funds constituted in February 2020, investing predominantly in quotas of other FIIs focused on real estate asset portfolios and credit securities (CRI), seeking income and capital gains. 0.8% p.a. management fee plus 20% performance fee above IFIX; undergoing migration to REME11 with spin-off (Cisão) concluded on 03/11/2025.
- RB Multiestratégia Imobiliária FII (REME11) Multi-strategy closed-end real estate fund that invests directly and indirectly in real estate assets and structured credit with real estate collateral (CRI, LCI, LH, LIG and FII quotas) aiming to outperform the IFIX index. 0.8% p.a. management fee; net equity R$55.7 million (Dec/2025).
- RB Capital Debêntures Incentivadas FIC Open-ended infrastructure incentivized debenture fund aiming to outperform the CDI, investing in infrastructure debentures under Brazilian Law 12,431 with low credit risk and hedging to minimize interest rate variation impact. 0.80% p.a. management fee; minimum initial investment R$1,000; returned 1.56% in June 2026 (140% CDI) and 9.69% in 12 months (66% CDI).
- RB Vitória Debêntures Incentivadas FIC Infrastructure incentivized debenture fund aiming to outperform CDI, investing in eligible infrastructure debentures under Law 12,431, highlighted as a top performer in the industry and closed to new investment. Total fee 0.95% p.a. (feeder 0.30% + master 0.65%); minimum initial investment R$100.
- RB Debêntures Incentivadas Inflação FIC Infrastructure incentivized debenture fund aiming to outperform the IMA-B 5 index, investing in eligible infrastructure debentures under Law 12,431 with hedging as portfolio risk mitigation. Total 0.80% p.a. (feeder 0.40% + master 0.40%); minimum initial investment R$1,000; D+15 business-day redemption.
- RB FI-INFRA (DBIN11) Closed-end infrastructure debenture fund aiming to achieve IMA-B 5 + 1.0% to 2.0% p.a., investing in infrastructure debentures under Law 12,431 with hedging as portfolio risk mitigation. Global fee 0.90% p.a. on net equity; targeted at qualified investors with NAV of R$99.65 and net equity of R$24.7 million (Jan/2026).
- RB Capital Credit Alpha Strategy I FIDC Closed-end Credit Rights Investment Fund (FIDC), exclusive to professional investors, that invests in credit rights arising from loans with INSS payroll deduction, with senior/mezzanine/subordinate tranche and subordination architecture. 1.5% p.a. management fee plus R$32,000/month administration fee corrected by IGPM, and 20% performance fee on the NPV of junior subordinate quotas; 12-year fund term.
- Facta INSS CB FIDC Closed-end Credit Rights Investment Fund of CCBs (Créditos Bancários) backed by INSS consigned cards, exclusive to professional and qualified investors, structured with senior/mezzanine/subordinate tranches and subordination. 0.2% p.a. management fee plus R$35,000/month administration fee; indeterminate term fund.
Quantifiable outcome
- Over R$ 9 billion in total investments historically managed across real estate, credit, and infrastructure strategies
- +6 more outcomes
Companies that use RB Asset
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles3 records
RB Asset technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
RB Asset partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- GHT4coreStrategic alliance between GHT4 (wealth management firm) and RB Asset structured as cross-shareholding between founding shareholders. GHT4 brings long-term strategic vision and deep understanding of investor wealth management needs, while RB Asset contributes expertise in active asset management, credit structuring, and product development. The alliance integrates complementary competencies in asset management, investment structuring, and investor relations. GHT4's leadership includes Laércio Cosentino (founder and former CEO of TOTVS), Caio David (former CEO of Itaú BBA), Guga Valente (founder of Grupo ABC), and Marcos Hatushikano (former director at UBS Wealth Management).
Scale indicators5 records
Recent moves9 records
Expansion highlights6 records
RB Asset competitors and assessment
Company assessmentDirect peers
- HSI Asset Management: Independent Brazilian asset manager focused on FIIs, infrastructure and private credit. Comparable multi-strategy alternatives platform with similar investor segment focus.
- Vinci Partners: Brazilian alternative asset manager (B3-listed) with parallel exposure to FIIs, infrastructure, private equity and credit strategies. Comparable product set and target investor base, and a useful benchmark for institutional-quality alternatives franchises in Brazil.
- Kinea Investimentos: One of Brazil's largest independent alternative asset managers, with deep FII, private equity, credit and infrastructure franchises. Closely comparable to RB Asset in multi-strategy real estate and infrastructure offering, though at materially larger AUM.
- Capitânia Investimentos: Brazilian independent manager with strong FII and structured-credit franchises (CRIs, FIDCs, debentures). Comparable alternative-income focus, particularly in credit-backed real estate strategies and listed FII vehicles.
- Hedge Investments: Independent Brazilian asset manager with a multi-strategy platform spanning real estate, infrastructure and credit. Directly comparable product mix (FIIs, incentivized debentures) and similar distribution through retail platforms.
- TRX Real Estate (formerly TRX Itausa): Brazilian FII-focused asset manager managing income and development real estate funds. Comparable in FII product line-up and distribution model, though more concentrated in real estate than RB Asset's three-pillar platform.
Broad incumbents
- BTG Pactual Asset Management: Asset management arm of Brazil's largest independent investment bank, offering FIIs, infrastructure and credit funds at scale. A primary distribution partner for RB Asset products and a competitor with much deeper balance sheet and proprietary distribution.
- Itaú Asset Management: Asset management division of Brazil's largest private bank, with broad FII, infrastructure and credit product coverage. Key distribution partner for RB Asset via íon and a broad-incumbent competitor with proprietary client base.
Emerging players
- Galápagos Capital: Brazilian alternative asset manager with credit and structured strategies including FIDC vehicles. Comparable in credit/infrastructure exposure, though smaller and earlier-stage than RB Asset.
Others
- Mongeral Aegon Investimentos: Brazilian institutional asset manager with credit and multi-asset mandates. Relevant institutional peer given shared focus on alternative fixed-income strategies, though more insurance-linked than RB Asset's FII-heavy book.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
RB Asset social profiles
Digital presenceRB Asset financial estimates
Financial estimateRevenue estimate
Valuation estimate
RB Asset leadership team
Management profileNumber of profiles
Profiles8 records
RB Asset subsidiaries and ownership
Company hierarchySubsidiaries1 record
RB Asset funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
RB Asset 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 RB Asset
What does RB Asset do?
RB Asset is an independent Brazilian investment manager that structures and actively manages alternative investment funds across three pillars: real estate investment funds (FIIs) covering income properties, residential development, and fund-of-funds; infrastructure incentivized debenture funds under Brazilian Law 12,431; and INSS consigned credit FIDCs. The firm charges recurring management fees (0.17%–2.0% p.a.) plus performance fees on outperformance versus benchmarks, and distributes funds through major Brazilian brokerages and digital platforms.
Is RB Asset a public or private company?
RB Asset is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was RB Asset founded?
RB Asset was founded in 2007. It employs 11 to 50 people.
Where is RB Asset based?
RB Asset is headquartered in São Paulo, Brazil, in the Latin America region.
How does RB Asset make money?
Four revenue lines are on record. Management Fees - Real Estate Funds (FIIs) is the primary driver. The others are management Fees - Infrastructure/Debenture Funds, management Fees - FIDC Credit Funds and performance Fees (Taxa de Performance).
Who are RB Asset's main competitors?
Direct peers on record are HSI Asset Management, Vinci Partners, Kinea Investimentos, Capitânia Investimentos, Hedge Investments and TRX Real Estate (formerly TRX Itausa). Broad incumbents are BTG Pactual Asset Management and Itaú Asset Management. Galápagos Capital is listed as an emerging player. Mongeral Aegon Investimentos is listed as an others.
Does RB Asset have an API?
No public API is recorded for RB Asset.
What industry is RB Asset in?
RB Asset's product category is Alternative Asset Management. Its primary akta.pro industry code is BPAJAMAJ, Real Estate Portfolio & Fund Management (Institutional/REIT/PE), with a secondary code of FSAAAKAK, Real Assets — Fund-of-Funds & Secondaries. Its NAICS code is 523940 and its SIC code is 6282.