(+351) 932 224 792 
info@luznurcapital.com Family Offices & Private Capital
Portugal for family offices and private capital.
A Portuguese counterpart for single- and multi-family offices, private investment companies, principals investing directly, and the funds and advisors who act for them: sourcing against a mandate, including off-market, underwriting support, structuring through regulated partners, and execution held to the client's own standard of discretion.
Why Portugal
A European base for family capital.
Portugal offers family capital what it usually looks for first: an EU legal system, the euro, political stability, and a real estate market deep enough to enter and exit. Commercial investment reached €927 million in the first quarter of 2026, up 44% on the year before and the strongest first quarter in six years, according to CBRE, and prime yields ranged between 5% and 7% across the main market segments, according to Savills.
For the family itself, Portugal is also a place to live. Residency routes exist for non-EU principals, Lisbon, Cascais, and Porto have strong international schools, and on succession, Portuguese assets pass to a spouse, children, or parents free of the 10% stamp duty that applies to other heirs.
€927M
Commercial real estate investment in Portugal, Q1 2026, up 44% (CBRE)
5–7%
Prime yields across the main market segments, Q1 2026 (Savills)
60 days
An off-market Comporta acquisition for a European family, sourced and completed
Exempt
Portuguese assets inherited by a spouse, children, or parents
What Families Hold Here
From income to a home for the next generation.
Family capital in Portugal tends to take one of a few shapes, and a single family office often holds several at once.
Income
Tenanted commercial property and sale-and-leaseback assets, where the return depends as much on the lease and the tenant's covenant as on the building.
Family residences
Homes in Lisbon, Cascais, Comporta, or the Algarve, for principals and the next generation, often acquired off-market.
Hospitality
Hotels, aparthotels, and serviced residences, held for yield or as a long-term asset with personal use.
Value-add and repositioning
Buildings and estates bought for what they could become, from a change of use to a full refurbishment, with architecture and licensing coordinated through partners.
Development and co-investment
Positions alongside established developers, from land with approved projects to off-plan entries with a defined exit.
Developer introductions
For families looking to invest in Portuguese projects, we introduce them to established developers for equity positions.
Instruments and Ticket Sizes
Direct ownership, and the structures beside it.
Not every allocation is a straight purchase. Alongside direct acquisitions, we source and introduce opportunities that call for other structures. Terms are agreed between the investor and the counterparty, and documented by the investor's counsel and our regulated partner firms.
Joint-venture equity
An equity position alongside a developer or operator in a defined project, sharing in its upside.
Preferred equity
A senior equity position with a priority return ahead of the sponsor, for investors who want a defined return with equity protection.
Forward funding
Funding a development to completion against a pre-agreed purchase or income, often with a tenant or operator already in place.
Club deals
Several families or investors acquiring an asset together, each with a smaller ticket than a single buyer would need.
Platform equity
A longer-term position in an operating platform or pipeline of assets, rather than a single building.
€2–5M
Family residences, single income assets, and first positions in Portugal.
€5–25M
Sale-and-leaseback and tenanted commercial assets, hospitality, and joint ventures with developers.
€25M+
Portfolios, club deals, and platform positions, typically structured with regulated partners from the outset.
Ticket sizes are indicative of the opportunities we source, not a minimum.
Private Equity, Funds, and Institutional Investors
A partner on the ground for capital with a timeline.
A private equity or real estate fund has a deployment schedule, a fund life, and investors waiting for distributions. What it needs in Portugal is different from what a family needs, and we work to that brief.
Local origination
Deal flow at the sizes the fund deploys, including off-market assets that do not reach international platforms.
Underwriting support
Comparable evidence, local market data, and early answers on title, licensing, and leases, so investment committees see the risks before the offer.
Execution on the ground
One counterpart coordinating legal, tax, technical, and architecture partners through to completion, alongside the fund's own advisors.
Co-investment and exits
Introductions to developers and operators for joint positions, and a buyer network when the fund comes to sell.
For Multi-Family Offices and Advisors
Your desk on the ground in Portugal.
Multi-family offices, private banks, and wealth advisors often have clients with a Portuguese need they cannot serve from where they sit. We act as their desk in Portugal: working to their brief, reporting to them, and keeping the client relationship where it belongs.
Real estate across the spectrum
Commercial property, from offices and retail to logistics, alongside residential and hospitality: acquisitions, sales, and income-producing assets.
Residency and the Golden Visa
For clients who need it, coordinated with our immigration partners, through the private equity investment and cultural donation routes, including introductions to qualifying funds.
Relocation
The home, schools, banking, and settling in, coordinated end to end for families moving to Portugal.
Your client remains your client
We work under NDA and a written partnership agreement, report to you, and do not approach your clients directly.
How We Work With Family Offices
One counterpart, from brief to exit.
A family office or a fund does not need another listings feed. It needs a counterpart on the ground who works to its brief, filters before presenting, and coordinates the specialists so the client's own team deals with one point of contact.
01
Brief and NDA
We agree the mandate: objectives, asset types, ticket size, hold period, and return expectations. Confidentiality is formalized from the start.
02
Sourcing
We search our own mandates, our partner network, and the wider market, including off-market, and present a filtered shortlist rather than everything available.
03
Underwriting support
Comparable evidence and the questions that matter on title, licensing, and the lease, before any offer is made. Where the mandate calls for it, support on financial modeling and introductions to architects and technical advisors.
04
Structuring and acquisition
Legal, tax, and corporate structuring through our regulated partner firms, coordinated with the family's own advisors through to completion.
05
Ownership and exit
Continued support after completion: coordinating management, leasing, and repositioning through partners, and, when the time comes, the sale.
Discretion
The family's name stays with the family.
We do not name clients, publish testimonials, or describe a mandate in a way that could identify it. Enquiries from a family's advisors, whether a private bank, a lawyer, or a multi-family office acting for a client, are handled with the same discretion as the family's own. Our Mandates & Opportunities page shows what that looks like in practice: completed work described in anonymized form, and opportunities currently in market.
Where the family itself carries a public profile, as a royal or ruling household, a public figure, or a founder whose name travels ahead of them, the mandate is held to the standard set out on our High-Profile Clients page.
Where a family's planning extends beyond real estate, wealth management solutions are available through a regulated partner.
A Conversation
Discuss a mandate in confidence.
Whether a family or a fund is entering Portugal for the first time or adding to existing holdings, the first step is a private conversation, under no obligation, to establish whether the brief is one we are the right firm to hold.
Continue with Luznur Capital
International clients
Transparency · Confidentiality · Execution
Luznur Capital is the commercial name of Lusomena Investments, Unipessoal Lda., a licensed real estate mediator holding AMI 22354 (IMPIC) and a member of APEMIP. It is not a law firm, tax practice, fund manager, or investment advisor. Legal, tax, and structuring matters are conducted by our regulated partner firms, who take professional responsibility for their advice, and capital-raising engagements are carried out through licensed, regulated partners, with Luznur Capital acting as introducer.
This page offers general orientation and does not constitute legal, tax, or investment advice. Market figures are drawn from published sources at the date of writing and are indicative; past engagements are not a representation as to future outcomes.
Where a client subscribes to a qualifying investment fund through an introduction from Luznur Capital, the company may receive an introduction fee from the manager under written agreement. Luznur Capital acts solely as an introducer: the fund is offered, sold, and managed by the fund manager, and any subscription is a transaction between the client and the manager. The questions that matter on any fund — manager track record, the fee stack, liquidity terms, and whether the 60% Portuguese allocation requirement is genuinely met — are set out in our guide to evaluating a fund, and clients are encouraged to have any fund assessed by an advisor with no interest in the outcome.
Lusomena Investments, Unipessoal Lda. · AMI 22354 · info@luznurcapital.com · +351 932 224 792
Begin a private conversation.
Tell us what you are looking to achieve. A line on the objective, the market, and the timeline is enough to begin. Every enquiry is answered personally by João Carvalho, in confidence. info@luznurcapital.com