CERES I logo
João Barata


CERES is a Real Estate Food & Retail Fund.

Investment Sectors

Real Estate, Food & Retail

Strategy Overview

MAGNIFY has started the Food Retail Project in 2017, and has created a database of 46 locations, all in the Greater Metropolitan Area of Lisbon (Lisbon and Setubal districts), from which has selected the 9 locations that are now being developed by the Fund CERES I.

Minimum Ticket Size


First Close Passed


Set Up Fee

0 included

Management Fee


A nominal annual fee of 2.5% over the lower of the following reference amounts: (i) the aggregate subscribed and paid-up capital, or (ii) the value of the assets under management.

Performance Fee


Target Annual Returns


For category C unit holders (GV investors), they have the right to receive, annually, its share of the gross income up to a maximum amount of 4.5% whilst the other unit holders (Category A) shall receive the full amount uncapped.

Target Returns Upon Exit


The fund seeks to achieve an annualized IRR, net of all fees and expenses, in excess of 14%.

Subscription Deadline

April 2024

Target Fundraise


Month Established

October 2021

Fund Duration

10 years

US-investors (PFIC)


CERES I is a Real Estate based fund focused on the Food Retail business sector. The Food Retail sector, in the last 4 economic downturns since 1986, has proven to hold its performance better than most industries.
The fund is managed by a team with International experience in managing private equity funds and in developing retail units in Portugal.