fund in rapid expansion — 3rd offering completed, 7 assets
Segment: Hybrid / Multi-strategy · Price R$ 6.89 · P/BV 0.7812 · BV/unit R$ 8.82 · Net assets R$ 207 Mi · 598 unitholders · 7 assets
ZAGH11 (Zagros Multiestratégia FII) is a Brazilian REIT in the Hybrid / Multi-strategy segment. fund in rapid expansion — 3rd offering completed, 7 assets
This page gathers the factual snapshot of ZAGH11 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: Zagros Capital Gestão de Recursos S.A..
Zagros Capital is the fund's active manager, led by Pedro van den Berg. Since inception, the manager has demonstrated an ability to allocate capital across diversified assets and successfully executed a 3rd offering of R$ 93M+, raising and rapidly deploying capital into properties. The Groenlândia 910 project (in partnership with Aflalo/Gasperini) is an architectural and reputational milestone. Its track record remains short (since Nov/2022) and historical performance trails IFIX — the manager needs to deliver Groenlândia to solidify its credibility.
See our analysis of Zagros Capital Gestão de Recursos S.A. →
| Asset | Location | % of NAV | Occupancy |
|---|---|---|---|
| Groenlândia 910 | — | — | — |
| Colégio Ética | — | — | — |
| Atlântico Office RJ | — | — | — |
| iToer Alphaville | — | — | — |
| Módulo Rebouças | — | — | — |
| Box 298 | — | — | — |
| Ibis Budget Guarulhos Airport Hotel | — | — | — |
P/BV calculated using a unit price of R$ 9.29 and book value of R$ 9.39 (May/2026).
last close R$ 6.89 · all-time low R$ 8.00 · high R$ 13.00 · book value per unit R$ 8.82.