Hybrid credit (CRI) Brazilian REIT-style fund (FII) co-managed by JPP Capital and Fator ORE Asset, administered by Finaxis CTVM. Active since 2016, holding a portfolio of approximately 25 CRIs with a duration of roughly 2.6 years.
Segment: Papel - CRI · Price R$ 67.02 · P/BV 0.6832 · BV/unit R$ 98.1 · Net assets R$ 319 Mi · 24,684 unitholders
OUJP11 (Ourinvest JPP FII) is a Brazilian REIT in the Papel - CRI segment. Hybrid credit (CRI) Brazilian REIT-style fund (FII) co-managed by JPP Capital and Fator ORE Asset, administered by Finaxis CTVM. Active since 2016, holding a portfolio of approximately 25 CRIs with a duration of roughly 2.6 years.
Hybrid credit Brazilian REIT-style fund with a portfolio of corporate CRIs (96% of net assets) spanning development, shopping malls, logistics, and energy, co-managed by JPP Capital and Fator ORE Asset with a focus on transactions yielding IPCA+10% and CDI+5%. Note: a structural reorganization process has reached its voting deadline — the general meeting's outcome will determine whether the fund is liquidated or continues under a new configuration.
This page gathers the factual snapshot of OUJP11 in 2026: what the fund is, what it invests in, what it charges, who manages it and how it got here. Opinion, score and recommendation live in the analysis; payout calendar and projections live in dividends.
Management: JPP Capital + Fator ORE Asset.
OUJP11 is co-managed by JPP Capital Gestão de Recursos and Fator ORE Asset (part of Banco Fator), with administration by Finaxis CTVM. Management is active: 11 new transactions between 2024–26 (Laken, Masotti, GPCI III, Fibra II, Planta, Terroá, Colorado III, Vila Fahl, Iben III, Dal Pozzo III, Maiz) — aggressively recycling the portfolio at high yields (IPCA+10–12.68%, CDI+5–6%). In November 2025, the sale of the Trisul CRI yielded an internal rate of return of 15.79% p.a. over 14 months. Management handled the Carvalho Hosken CRI default event well in 2024 — resolving the situation by June 2025 without permanent loss. A proprietary credit rating is applied to ~80% of assets (substituting for external agencies). Weak point: smaller-scale managers lacking the brand recognition of Kinea or BTG.| Asset | Location | % of NAV | Occupancy |
|---|---|---|---|
| CRI GPCI IV | — | — | — |
| CRI Celeste | — | — | — |
| Carvalho Hosken CRI (I + II) | — | — | — |
| CRI Laken | — | — | — |
| Minas Brisa CRI | — | — | — |
| Dal Pozzo CRI (I + III) | — | — | — |
| Coteminas CRI | — | — | — |
| Fibra CRI (II + III) | — | — | — |
| CRI OAD | — | — | — |
| CRI Corpore | — | — | — |
| Other 22 CRIs (Lote 5, Masotti, Terroá, Planta, Iben, Arquiplan, Helbor Estoque, GSFI, BTG Malls, BMLOG, Estácio, Cogna, Mateus, MAIZ, Vila Fahl, Colorado III, Iben III, Koch, ABV, You, Aracaju, Mude, HBR, HBC II) | — | — | — |
last close R$ 67.02 · all-time low R$ 47.00 · high R$ 123.50 · book value per unit R$ 98.1.
| Period | What happened |
|---|---|
| Constituição | Fund established by Administrator Finaxis on July 25, 2016, and commenced operations in November 2016. Co-managed by JPP Capital and Fator ORE. |
| Crescimento | Portfolio construction. Capitalized on the high-interest-rate cycle to lock in elevated rates on corporate CRIs and build-to-suit leases. |
| Credit stress | R$ 1.2M provision on the Carvalho Hosken CRI (delinquencies of 18 to 262 days on interest and amortization installments). |
| Resolution of the legacy issue | Grant Thornton audit as of June 30, 2025: no installment overdue by more than 16 days. Delinquency provision fully reversed. |
| Aggressive recycling | 11 new transactions acquired at high rates. Sale of the Trisul CRI yielded a 15.79% IRR over 14 months (November 2025). |
| Atual | Consolidated fund with 26,420 unitholders and net assets of R$ 326.9M (April 2026 Management Report). |