Oxy Capital

Managing Partner Miguel Lucas heads the firm, working alongside a partner group of six named professionals — Gonçalo Mendes, Guilherme Carreiro, Igor Pereira, Marco Henriques, Pedro Sousa, and Tomás Castro de Sá — as listed on the firm's website. The team operates from offices in Lisbon and Milan, with over 25 investment professionals total.

The firm structures its deployment across four strategy bands: corporate restructuring, private equity and mezzanine debt, special situations, and liquid public markets. It runs nine named funds corresponding to these strategies — three restructuring vehicles, three private equity and mezzanine debt funds, six special situations pools, and two public-market funds — targeting expansion-stage, management buyout, recapitalisation, and turnaround situations.

Oxy Capital primarily deploys through its own dedicated fund vehicles rather than external fund commitments. Its fund roster — ranging from the Oxy Capital Mezzanine Fund to the Liquid Opportunities PPR Fund — suggests the firm raises discrete pools for each strategy and invests directly out of those vehicles into Iberian and Italian mid-market companies.

The firm concentrates on Portugal and Italy, maintaining offices in Lisbon and Milan and an investment team built to source and monitor deals across the two countries. No other European regions appear in its disclosed fund mandates or team locations.

Oxy Capital is an alternative asset management firm, not a family office. It manages third-party capital through a series of fund vehicles covering restructuring, private equity, mezzanine debt, special situations, and public-market strategies, with no disclosed single-family wealth backing.

The firm keeps each strategy in a distinct vehicle — restructuring risk sits in one fund, growth equity in another, special situations in a third, and public-market exposure in the liquid-opportunities funds — rather than commingling deployment in a single flagship. This allows different investor bases to choose specific return profiles and risk governance per fund.

Yes. The firm operates two public-market funds — Liquid Opportunities A (a PPR fund under Portuguese pension regulation) and Liquid Opportunities B Fund — offering liquid alternatives that run alongside its illiquid private equity, mezzanine, and restructuring vehicles.