Caixagest

Caixagest operates as a fund of funds manager, allocating client capital to third-party funds rather than making direct investments in companies or infrastructure projects. Its strategies cover infrastructure, real estate, and private equity, gaining exposure through external managers selected via a formal due diligence process. This fund-of-funds structure spreads risk across multiple managers and geographies.

Caixagest is a wholly owned subsidiary of Caixa Geral de Depósitos, Portugal's largest state-owned bank. Founded in 1991, it serves as the bank's dedicated fund management arm, creating and managing investment vehicles distributed primarily through CGD's branch network to Portuguese retail and institutional clients. This ownership structure subjects Caixagest to public-sector governance and regulatory oversight.

Infrastructure, real estate, and private equity form the three primary alternative asset classes within Caixagest's fund-of-funds programs. Infrastructure commitments target transport, energy, and social infrastructure across the European Union, while real estate funds focus on Iberian commercial and residential property. PE exposure typically comes through European mid-market buyout and growth funds.

José Braz serves as the President of the Executive Committee, leading investment and operational strategy. The firm's regulated status under the CMVM requires separation of portfolio management, risk control, and compliance functions, though specific named investment committee members beyond the executive board are not widely published.

Yes — while Portugal and Spain represent the core geographic focus, Caixagest's fund commitments also reach core European markets including Germany and France. Its real estate strategies are more heavily weighted toward Iberia, while infrastructure and private equity allocations can have broader EU exposure through the underlying fund managers.