Updated:
GTIS Partners
GTIS Partners was founded in 2005 by Thomas Shapiro and Rod MacLennan, two veterans of Goldman Sachs and Morgan Stanley respectively.
GTIS Partners
GTIS Partners was founded in 2005 by Thomas Shapiro and Rod MacLennan, two veterans of Goldman Sachs and Morgan Stanley respectively. The firm was established to capitalize on demographic and economic trends driving demand for housing and logistics in the Americas. Unlike many real estate shops focused solely on US markets, GTIS built a dedicated Brazilian platform early on, led by José Antonio Forte, to tap into the country's rapid urbanization. The firm's investment strategy targets residential, industrial, and logistics assets in markets with strong demographic tailwinds. GTIS operates across the risk spectrum, from ground-up development to value-add repositioning, in both the US and Brazil. Known portfolio positions include multifamily developments in the US Sun Belt and logistics facilities in São Paulo state. The firm typically acts as a principal investor, committing its own capital alongside co-investment partners, and has deployed over $7 billion since inception (per the firm). GTIS maintains a lean team of roughly 50 professionals, with additional offices in São Paulo, San Francisco, and Miami. The firm's structure is that of a traditional asset manager, not a single-family office, though it has no public AUM disclosure. It operates no significant philanthropic foundation or operating company. In September 2023, GTIS closed its third US residential fund at $1.2 billion (per SEC filing). GTIS's structural differentiator is its dedicated Brazil platform — a rare permanent presence among US-based real estate managers. This allows the firm to execute cross-border strategies, such as exporting US capital into Brazilian residential projects, while competing for local assets on the ground. The firm's governance is typical of a partnership, with founders Shapiro and MacLennan retaining control, and no succession plan publicly outlined.
General information
Firm type
Asset Manager
Year founded
2005
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Additional offices
São Paulo, Brazil · San Francisco, CA, United States · Miami, FL, United States
Principals
Thomas Shapiro
Co-Founder and President
George E. R. (Rod) MacLennan
Co-Founder and CEO
José Antonio Forte
Head of Brazil
Sector focus
Frequently asked questions
Who runs investment decisions at GTIS Partners?
Investment decisions are led by co-founders Thomas Shapiro and Rod MacLennan. Shapiro, a Goldman Sachs alumnus, focuses on strategy and capital allocation, while MacLennan, formerly of Morgan Stanley, oversees portfolio management. The firm's Brazil operations are headed by José Antonio Forte.
How is GTIS Partners structured — as a family office or an asset manager?
GTIS Partners is structured as a traditional real estate asset manager, not a family office. It raises institutional capital and deploys it across its own funds and co-investment vehicles. The firm does not disclose a wealth origin tied to a single family.
Does GTIS Partners invest only in the United States?
No. GTIS has a permanent office in São Paulo, Brazil, and actively invests in both US and Brazilian markets. Its strategy targets high-growth metropolitan areas in both countries, with a focus on residential and logistics assets.
What investment stages does GTIS Partners target?
GTIS invests across the risk spectrum, from ground-up development (entitlement risk) to value-add repositioning and stabilized core assets. The firm's funds often focus on a specific stage, such as its US residential series targeting development and mid-cycle construction.
Does GTIS Partners participate in fund commitments or only direct deals?
GTIS invests principally via closed-end funds that it manages, raising capital from institutional investors. The firm also engages in direct co-investments alongside its fund vehicles for specific assets or portfolios.
How does GTIS Partners source proprietary deal flow?
GTIS sources deals through its on-the-ground teams in the US and Brazil, relationships with local developers and brokers, and a focus on off-market transactions. Its long-standing presence in Brazil gives it an edge in sourcing land and development opportunities there.
What is GTIS Partners' known posture on co-investments alongside external GPs?
GTIS typically acts as the lead or co-GP on its investments, managing the asset itself. It does not commonly invest as a limited partner in third-party funds, though it may partner with other real estate operators on a deal-by-deal basis.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: