Turim Family Office

Turim Family Office

Turim launched in São Paulo in 2000 when founding partners Gustavo Marques, Arminio Fraga, and Guilherme Lacerda recognized that wealthy Brazilian families needed an investment advisor structurally separated from the sales desks of domestic banks. Fraga had previously managed Soros Fund Management's Quantum Fund and later served as governor of Brazil's central bank; Marques brought experience from Banco Garantia, the Brazilian investment bank that seeded 3G Capital. The firm operates from São Paulo and Rio de Janeiro, serving multiple families whose combined assets under advisory exceed R$35 billion (per Valor Econômico, 2023). The firm allocates client capital across public equities, private equity, hedge funds, real estate, and private credit, with a heavy emphasis on manager selection rather than in-house fund management. Allocation is global: Turim has placed capital with North American, European, and Asian managers alongside Brazilian funds. In private markets, the firm executes co-investments and feeder structures rather than raising discretionary blind-pool vehicles. Known commitments include placements into international real estate strategies and venture capital funds; the firm also structures local currency credit investments for families seeking inflation-protected yield in Brazil. Turim's advisory book grew significantly during the last two decades as Brazilian wealth holders sought dollar diversification and institutional-grade governance. In January 2024, the firm announced a partnership with global multi-family office Stonehage Fleming to offer cross-border structuring for families with assets across Brazil and Europe (per Citywire, 2024). The firm maintains a lean partnership structure — typical of independent multi-family offices globally — and does not disclose a precise headcount. Adjacent activity includes philanthropic advisory work for client families, though Turim does not operate a separate charitable foundation. What separates Turim from a conventional wealth manager is its origin story: it was built as an open-architecture rebuttal to the Brazilian private-banking model. Rather than earning distribution fees from in-house products, the firm charges advisory fees on assets. That architecture — combined with the presence of a former central bank governor on the partnership roster — gives Turim a structural alignment that most bank-owned competitors in São Paulo cannot replicate.