Brazilian investment platform XP, through its manager XP Asset Management, announced the full acquisition of Habitat Capital Partners Asset Management Ltda., an independent manager focused on real estate funds. Habitat has been operating since 2018 and has around BRL 730 million in assets under management. The terms of the deal were not disclosed.
According to XP Asset, Habitat will bring strength and expertise to the company – XP Asset Management manages more than 400 funds and BRL 134 billion in assets, and has around 150 professionals and 2.5 million investors.
“Habitat Capital has a diversified portfolio of real estate assets, which is strategic and very complementary to XP Asset Management. The company has wide experience and reputation in the real estate segment”, says Bruno Castro, CEO of XP Asset.
Habitat started in 2016 as a consulting company in the area of real estate funds. In 2018, it started managing real estate funds, with a portfolio focused on Real Estate Receivables Certificates concentrated in the High Yield (HY) class, as they are called fixed-income securities of private credit that represent a future payment backed by real estate credits, whose returns offered to investors are higher than the market average.
“The assets managed by Habitat Capital fit very well to our fund offering, since, within XP Asset’s strategy of real estate funds of Real Estate Receivables Certificates, we do not have a fund 100% focused on High Yield”, explains André Masetti, manager of XP Asset.
Marcelo Kayath, Edward Weaver, Camila Almeida, founding partners at Habitat, continue as directors of the management company and are responsible for the fund management during the team integration process. The executive partners, including Juliana Pedroza, who is responsible for the Investor Relations area, will also be in charge of this process.