# Patagonia Capital

Patagonia Capital is a Multi Family Office based in Ribeirao Preto, Brazil.

## Overview

- **Organization type:** Multi Family Office
- **Headquarters:** Ribeirao Preto, Brazil
- **Region:** South America
- **Address:** Ribeirao Preto, Brazil
- **Founded:** 2020
- **Assets under management:** 538 (Altss estimate)
- **Website:** patagoniacapital.com.br
- **LinkedIn:** https://www.linkedin.com/company/patagoniacapital

## Regulatory record

- **Reports private funds:** No

## About

Patagonia Capital was established by Tiago Luis Baggio and Gustavo Milan Pupin. The founders built the firm to serve multiple families with customized investment programs. No public record discloses the original source of the client wealth. The firm runs four fund types: FII real estate vehicles, FIM multimercado strategies, FIP private equity holdings, and FIDC credit rights portfolios. It also executes DCM and ECM mandates through its brokerage arm. All activity stays within South America, primarily Brazil. Confirmed holdings include the Outlet Santa Maria commercial asset and three FII portfolios labeled Harmonia, Barra, and Wave. Altss research places assets under management at 538 million USD. The team includes four named partners. No additional offices appear in public materials. The firm holds ANBIMA certification for asset management. Patagonia Capital integrates multi-family office services with an in-house asset manager and broker-dealer. This structure allows direct execution of debt and equity capital markets transactions alongside fund management without reliance on third-party platforms.

## Sectors

- Hedge Funds
- Private Credit
- Private Equity
- Real Estate

## People

- Tiago Luis Baggio — Sócio Fundador and Director of Management and Distribution
- Gustavo Milan Pupin — Sócio Fundador and Director of Compliance and Risk
- Pedro Nogueira — Managing Partner
- João Pedro de Oliveira — Partner and Head of Distribution and Operations for DCM & ECM

## Questions

### Who runs investment decisions at Patagonia Capital?

Tiago Luis Baggio directs management and distribution. Gustavo Milan Pupin oversees compliance and risk. Pedro Nogueira serves as managing partner.

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

The firm manages its own FII, FIM, FIP, and FIDC vehicles. It also executes direct DCM and ECM transactions.

### What investment stages does Patagonia Capital typically target?

The firm focuses on real estate, private credit, and private equity within Brazil. No stage restrictions are stated publicly.

### How is Patagonia Capital related to its real estate holdings?

The firm directly owns or manages Outlet Santa Maria and the Harmonia, Barra, and Wave FII portfolios.

## Related profiles

- [BRAVE Family Advisors](https://altss.com/profile/brave-family-advisors)
- [Evanston Advisors](https://altss.com/profile/evanston-advisors)

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Last updated: 2026-08-10T15:54:10.904Z

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

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