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About Us


Norfin is a leading independent, privately-owned Real Estate investment fund manager with HQ in Lisbon. We specialise in investing and managing direct equity participations in Real Estate assets typically via closed-end private equity funds.

We were founded in 1999 and currently manage assets worth approximately EUR 1.4 billion on behalf of a range of Institutional and sophisticated private investors.

Our approach is based on Active Asset Management drawing upon the long experience and seniority of our executives to drive results at the operational and financial levels. While we favour efficient capital and financial structures we are not believers in complex financial engineering to drive returns. Our objective is to deliver superior risk-adjusted returns by managing Real Estate risk.

We are an owner-managed company ensuring continuity of relationships with regulators, investors, lenders and tenants and a long term approach to the business. Our independence from contractors, brokers and financial groups guarantees a full alignment of interests between Norfin and our investors.

Norfin is a financial institution regulated by the relevant regulatory bodies in Portugal. In the context of the AIFM Directive, our regulated entities provide the required legal coverage in order to comply with the expected legal changes.

AUMSector Breakdown
  • offices
  • logistics
  • retail
  • residential
  • develop / refurb
  • other
  • Note: GAV weighted sector exposure. Based on Discretionary Funds under management, which account for more than 75% of the total assets under management. Data as of December 2017.

Managed CapitalProject Stage
  • development
  • refurbish
  • operating


Norfin’s sole business has been the management of direct real estate investments in Iberia.

The company was founded in 1999 in Lisbon, emerging from bringing together knowledge and experience in Finance and Civil Engineering/Project Management. The partners maintain a common vision of applying complementary experience to create a unique approach to direct investing in Real Estate based on professionalism and excellence.

Norfin has maintained a private owner-managed structure, with the partners ensuring stable and long-lasting relationships with our clients.

The Company has developed and managed emblematic Real Estate assets in Iberia as is the Design Build and Operation of Office Park Expo, the largest and most modern office development in Portugal and one of the largest in Iberia.

In 2017 Euromoney has recognised Norfin as the best Real Estate Investment Manager in Portugal for the 12th consecutive year, since 2006.

Norfin is an IPD and IPMS (The International Property Measurement Standards) Partner.

Investment & Funds

Since 2008 Norfin has been developing a Real Estate Asset Management business directed specifically at Financial Institutions. As a consequence the firm has now acquired significant experience in the management of residential real estate.