Guilherme Decca and Andre Ikeda, two former trading executives at Nomura’s securities unit, have set up a multifamily office in the US to serve affluent Brazilians.
Dubbed VO2 Capital, the firm plans to serve up to 25 families in Sao Paulo and focus on investments in the US, Bloomberg reported.
It currently oversees BRL800m ($154.79) in assets on behalf of nine families and expects to add an additional BRL400m by the end of this year.
VO2 will enable clients to escape fund-management fee by purchasing global securities directly for clients’ accounts.
The unit will also invest alongside clients in real estate and private equity in the US.
VO2 has partnered with Crescent Sky Capital, founded by Nomura veteran Charlie Spero, to support its real estate operations.
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As of now, the unit has bought $36m in properties in the US and is eyeing to increase it to $60m by the end of the year.
Furthermore, VO2 has invested in a UK soccer team, Wakefield AFC and mulling to let clients purchase the stake in the future.
Decca told the news agency: “We can advise on an apartment in New York or a house in Miami, but our strategy is a long-term rent approach to beat inflation.
“So we try to invest in regions we consider to be more resilient to recessions, that have many universities, government workers, hospitals,” he said, pointing to Texas and north Florida as examples.”
Connecticut-based VO2 Capital currently has an office in Sao Paulo and the founders are planning to set up another in Florida.
The firm was initially launched by Decca and Ikeda in January last year, but its operation was halted by the Covid-19 pandemic outbreak.