Strategy
Are you ready to diversify in an emerging market?
Our strategy provides exclusive access to high-yield residential projects in São Paulo through a unique partnership with market leader Vitacon. We combine this local expertise with Dutch institutional oversight from Brickfund to ensure professional management and a risk-first framework. This collaboration allows our investors to participate in off-market opportunities under the same institutional terms as global giants like Hines.
Investment Process
Investment Structure
AFM light cooperative
A recognized fund structure under the AFM-light regime, ensuring maximum security for investors.
Internationally recognized
An internationally recognized fund structure trusted by European, American, and LATAM investors.
Tax structure
A tax-efficient structure with the potential application of the participation exemption (deelnemingsvrijstelling).
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Risk Mitigation & Investor Safeguards
Project cancellation risk
If a project is not launched, the fund receives the invested amount back, indexed to inflation and increased with interest.
Developer risk
ARD’s projects utilize a performance bond with a first-rank insurer. In the event of Vitacon's insolvency, the insurer ensures the completion of the project. This serves as a completion guarantee.
Execution risk
Capital is managed via an escrow structure and only released upon achieving set milestones and through continuous monitoring.
Capital structure risk
Changes to the capital structure or governance are only possible with the fund's prior written consent.
Our Fee Structure
ARD’s fee structure is centered around transparency and a long-term vision. ARD co-invests under the same conditions as its investors, ensuring maximum alignment. The fund utilizes a compounded hurdle of 10% per year, which aligns with how wealth and benchmarks grow and provides a fair representation of returns. While many funds use a non-compounded hurdle to their own advantage, ARD deliberately avoids this. ARD only receives 20% of the additional return in cases of structural outperformance above 10%. The fees are fair, transparent, and focused on collective long-term value.
1.5%
1%
10%
20%
ARD vs. Traditional Asset Classes
Unlike traditional funds that lock up capital for years, we leverage São Paulo’s high demand to deliver immediate liquidity. Because projects often sell out within months due to strong pre-sales, we generate early cash flow that allows for a monthly interest component of approximately 1% during the development phase.
This structure provides a secure bridge to a projected 25%+ net IRR, protected by Dutch AFM-light oversight and insured completion guarantees.
Got Questions?
Stability: Since the Central Bank began operating autonomously, the BRL has maintained its value relative to the start of this policy period, proving the effectiveness of the current mandate.
Appreciation: As of December 2025, the BRL has seen an appreciation of approximately 5.7% compared to February 2021, when the independent central bank was officially established.
Hedging: For investors seeking additional security, options exist to hedge their investment outside of the fund structure.
Brazil has a proven track record of managing inflation, averaging approximately 5.7% annually over the past 20 years.
Effective Policy: The independence of the Central Bank allows for decisive action against inflationary pressures.
Current Data: Inflation for 2025 stands at 4.5%, with JP Morgan forecasting 4.7% for 2026.
Built-in Protection: Purchase prices for units within the fund's developments are indexed to inflation. This ensures the investment result is largely protected against loss of purchasing power
While political volatility is a global reality, Brazil provides a stable foundation for international investors.
Mature Democracy: Brazil operates as a mature democracy with a clear separation of powers and institutions that oversee the highest levels of government.
Economic Resilience: Despite historical challenges like the 2014-2016 financial crisis and COVID-19, the economy has remained resilient with positive long-term GDP growth.
Neutral Global Stance: Brazil’s neutral position in global politics makes it a strong trading partner for Europe, the US, China, and the Middle East.
Legal Framework: The Brazilian legal system offers a credible framework for contract enforcement and dispute resolution, minimizing legal risk for investors.
Completion Risk: Mitigated by partnering exclusively with Vitacon (115+ projects, zero defaults) and utilizing insured completion guarantees from providers like Allianz.
Liquidity Risk: Unlike traditional "lock-up" funds, our rapid pre-sale model generates early cash flow, allowing for a ~1% monthly interest component during development.
Regulatory & Legal Risk: Handled by our thirty-year "boots on the ground" heritage and a secure
Dutch AFM-light structure for European investors.
Alignment Risk: We co-invest under the same terms as our LPs and implement a 10% compounded hurdle, ensuring we only profit after our investors achieve structural growth.
Rapid Liquidity: Our pre-sale model often sells out within months, generating the cash flow used for your ~1% monthly interest distributions during construction.
Insured Completion: Projects are protected by Performance Bonds (e.g., via Allianz), ensuring completion by a secondary developer if necessary.
The Payback Clause: If a project fails to launch, your capital is returned in full, adjusted for IPCA inflation plus 1% monthly interest.
Global Repatriation: We partner with tier-one firms like Ebury and BTG Pactual to ensure the seamless and compliant transfer of profits back to Europe.
Isolated Risk: Every investment is held in a standalone Special Purpose Vehicle (SPV) with joint escrow accounts monitored by international auditors.
