# Elystone Capital

Elystone Capital is a Multi Family Office based in Geneva, Switzerland.

## Overview

- **Organization type:** Multi Family Office
- **Headquarters:** Geneva, Switzerland
- **Region:** Europe
- **Address:** Geneva, Switzerland
- **Founded:** 2003
- **Assets under management:** Undisclosed
- **Website:** elystonecapital.com
- **LinkedIn:** https://www.linkedin.com/company/elystone-capital

## Regulatory record

- **Reports private funds:** No

## About

Elystone Capital was established in 2003 by Luis Palacios. The firm operates from Geneva and maintains a relationship with the Bulgari family that includes oversight of their LVMH shareholdings. Investment activity spans private equity, real estate, hedge funds and philanthropic vehicles. Confirmed holdings include commercial properties at 110, Bermuda, plus mixed-use projects under Stoneweg in Spain and Portugal. The firm also executes direct co-investments and fund-of-funds mandates in Energy Transition & Renewables, Healthcare Services, Luxury and Media & Entertainment. The team includes Francesco Trapani, former Bulgari CEO, and Daniel Tafur of Equilibria Capital Management. Elystone Capital holds membership in the Swiss Association of Asset Managers (VSV-ASG) and operates the First Dollar Foundation. Governance centers on a board chaired by Carlo Schneider with majority ownership retained by founder Luis Palacios. This structure separates client mandates from the operating company while preserving direct control over Bulgari-related assets.

## Sectors

- Energy Transition & Renewables
- Healthcare Services
- Luxury
- Media & Entertainment

## People

- Luis Palacios — Founder and majority owner
- Francesco Trapani — Business Partner and former Chairman
- Daniel Tafur — Business Partner
- Carlo Schneider — Chairman of the Board of Directors

## Questions

### Who runs investment decisions at Elystone Capital?

Luis Palacios serves as founder and majority owner. Carlo Schneider chairs the board. Francesco Trapani and Daniel Tafur act as business partners on client mandates.

### How is Elystone Capital related to the Bulgari family?

The firm manages the fortune of the Bulgari dynasty, including LVMH shareholdings for Veronica and Ilaria Bulgari.

### Does Elystone Capital participate in fund commitments or only direct deals?

The firm uses both direct co-investments via SPVs and fund-of-funds commitments alongside hedge fund and private equity allocations.

### Which regions does Elystone Capital target for real estate?

Confirmed real estate activity covers Switzerland, Spain, Portugal and Bermuda.

### What philanthropic structures does Elystone Capital maintain?

The firm operates the First Dollar Foundation as a separate vehicle for mission-related investing.

## Related profiles

- [Elysia Capital](https://altss.com/profile/elysia-capital-stefano-buono-family-office)
- [Embassy Capital](https://altss.com/profile/embassy-capital)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/elystone-capital

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