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Fund Inception

Aug. 2012

Administration fee

1.0% p.a.

Performance fee

20% of what exceeds IPCA + 6% p.a.

Fund expiration

Aug. 2023

NOTE

Fund in the disinvestment phase

Profitability

The Fund is in the disinvestment phase of the projects in its portfolio and the distributions made are composed of earnings and the return of capital and therefore should not be considered for yield calculations and pricing for the purchase of shares on the secondary market.

Features

Fund Objective

Generate capital gains for shareholders in the long term, from the development of real estate projects present in the Fund’s portfolio.

Recommended for

Investors who wish to invest in a diversified portfolio of projects for real estate incorporation, with the support of a specialized management team, and enable additional returns compared to the real market.

Development

Active participation in residential projects, from the purchase of land and project development to the delivery of units to buyers.

Diversification

Targeting different profiles of developments developed by specialist real estate developers by type and region.

Contains

Real estate portfolio
Diversified portfolio focused on residential real estate projects concentrated in the best regions of the country through diligent processes that support the careful selection of assets.

Control
Continuous monitoring of invested projects with partner developers for better analysis of the risk and return expectations of each project.

Performance fee

20% of what exceeds IPCA + 6% p.a.

How it works

With diligent processes and continuous monitoring of all stages of the venture.

1. Pre-project

Mapping of opportunities in the real estate market:

– Developers present potential projects;

– Contacts made by Kinea directly with developers.

Project analysis and due diligence:

Selection of projects based on technical evaluations and return expectations;

– Fiscal and legal due diligence in the SPEs of the projects;

– Analyses: Market, Partner Developer, Product, Sales Price, Estimated development and construction costs;

– Projects are submitted to Kinea’s Investment Committee for approval or disapproval of investment.

2. Project

0 – 18 months: Project inception

– Land acquisition;

– Development of real estate product;

– Project approval with government agencies.

18 – 30 months: Pre-sale launch

– Marketing campaign;

– Commercial follow-up with the partner developer.

30 – 60 months: Construction

– Construction of the work according to the scheduled timetable;

– Monitoring of the physical and financial progress of the work;

– Monitoring of sales;

– Active management of the venture.

3. Disinvestment

60 – 72 months: Transfer of receivables to banks

– At the end of the work, customers are able to carry out real estate financing with financial institutions;

– Delivery of keys to buyers;

– Distribution of venture results to the Fund in relation to the percentage of the Fund’s swap.

Team

Foto Carlos Martins

Carlos Martins

Partner and Equity Real Estate Fund Manager

Executive partner and manager responsible for equity real estate funds. Carlos is a founding partner of Kinea, responsible for implementing the real estate funds area. He has been working in the real estate industry since 2007, being responsible for asset management, investor relations, and business origination and capture. Actively participates in real estate investment committees. Prior to Kinea, he worked for 15 years at BankBoston, where he passed through the credit and international operations areas and for 6 years, was in the structured & corporate finance area. He started his career at Citibank.

Carlos holds an MBA from the Boston School/Columbia University and an Executive MBA from IBMEC, currently Insper, and a degree in business administration from Fundação Getúlio Vargas (EAESP-FGV) and attended the YMP (Young Manager Program) at INSEAD.

Foto Bruna Sotopietra

Bruna Sotopietra

Foto Ivan Simão

Ivan Simão

Sales and Investor Relations

Ivan joined Kinea in August 2014. Previously, he worked in investment product structuring at Itaú Unibanco. He also worked at Banco Indusval Multistock in the proprietary fund management area and on the derivatives desk at a brokerage associated with the institution. Ivan has a degree in Business Administration from the Pontifical Catholic University of São Paulo (PUC-SP).

Foto Marcel Chalem

Marcel Chalem

Controller

Marcel is a member of Kinea’s Target Asset Management department and has been with the company since December 2009. He is responsible for monitoring and overseeing Kinea’s 40 real estate development projects, as well as managing the income fund’s financial controls. Prior to joining Kinea, Marcel worked at Lindencorp Desenvolvimento Imobiliário, where he served as Structured Finance Manager, responsible for structuring the company’s structured finance projects and even participating in the setup of income-oriented real estate funds developed by the company. In addition to his experience in real estate, Marcel has also worked at Fit Residencial (Gafisa), where he was responsible for investment analysis and financial planning. He has more than 12 years of experience in the real estate market.
Marcel holds a specialization in Real Estate Finance from MIT – Massachusetts Institute of Technology, an MBA in Finance from Insper – SP, and a degree in Business Administration from Universidade Presbiteriana Mackenzie.

Foto Rodolfo Piersanti

Rodolfo Piersanti

Sales and Developer Relations

Rodolfo is part of Kinea’s Real Estate team, focusing on sales and relationship with developers. Prior to Kinea, he worked as a development coordinator at Odebrecht Realizações Imobiliárias, dealing with the entire cycle of real estate incorporation: land prospecting and acquisition, legislation analysis, product development, sales, and unit delivery to customers. He also worked at Bairro Novo in the role of work production.
Rodolfo holds a degree in Production Engineering from the Mackenzie Presbyterian University and Civil Engineering from the Anhembi Morumbi University.

Documents

Document name Date of Update
Carta do Gestor

1/2024

1/2024
Informe Mensal

1/2024

1/2024
Aviso aos Cotistas

1/2024

1/2024
Aviso aos Cotistas

1/2024

1/2024
Assembleia

11/2023

11/2023
Carta do Gestor – Trimestral

10/2019

10/2019
Regulamento Vigente

4/2017

4/2017

To view the Fund’s documents, visit all documents.

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BASED IN

Rua Minas de Prata, 30
São Paulo
Brazil

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