Golden Visa Fund Comparison
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado vs IMGA Portuguese Corporate Debt Fund
Compare Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado and IMGA Portuguese Corporate Debt Fund side-by-side: fees, terms, performance metrics, and Golden Visa eligibility.
Private Equity
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
Managed by Fortitude Capital
Unverified
VS
Debt
IMGA Portuguese Corporate Debt Fund
Managed by IM Gestão de Ativos (IMGA)
Unverified
Quick Decision Guide
Choose Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado if you prioritize lower minimum investment and private equity exposure. Choose IMGA Portuguese Corporate Debt Fund if you prefer lower management fees and debt exposure.
Key Financials
€100,000Best
Min. Investment
€500,000
Min. Investment
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
€100,000IMGA Portuguese Corporate Debt Fund
€500,00015–20% p.a.Best
Target Return
Not disclosed
Target Return
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
15–20% p.a.IMGA Portuguese Corporate Debt Fund
Not disclosed€150M
Fund Size
€40.7M
Fund Size
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
€150MIMGA Portuguese Corporate Debt Fund
€40.7M2025
Established
2004
Established
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
2025IMGA Portuguese Corporate Debt Fund
2004Fees & Costs
2%
Management Fee
Best1.7%
Management Fee
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
2%IMGA Portuguese Corporate Debt Fund
1.7%20%
Performance Fee
None
Performance Fee
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
20%IMGA Portuguese Corporate Debt Fund
None5%
Subscription Fee
1.75%
Subscription Fee
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
5%IMGA Portuguese Corporate Debt Fund
1.75%Not disclosed
Redemption Fee
3.5%
Redemption Fee
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
Not disclosedIMGA Portuguese Corporate Debt Fund
3.5%7%
Hurdle Rate
Not disclosed
Hurdle Rate
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
7%IMGA Portuguese Corporate Debt Fund
Not disclosedLiquidity & Terms
End of Term
Redemption
Daily
Redemption
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
End of TermIMGA Portuguese Corporate Debt Fund
Daily48 months
Lock-up Period
60 months
Lock-up Period
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
48 monthsIMGA Portuguese Corporate Debt Fund
60 monthsNot disclosed
Risk Band
Not disclosed
Risk Band
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
Not disclosedIMGA Portuguese Corporate Debt Fund
Not disclosedPrivate Equity
Category
Debt
Category
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
Private EquityIMGA Portuguese Corporate Debt Fund
DebtEstimated Fees on €500,000 Investment
Management fees over 6 years (excludes performance fees)
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
€85,000
Lower Cost
IMGA Portuguese Corporate Debt Fund
€59,750
Geographic Allocation
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado
Portugal
60%
Spain
40%
IMGA Portuguese Corporate Debt Fund
Portugal
65%
Eurozone
30%
Non-Euro Countries
5%
Ready to invest?
Speak with our Golden Visa experts to discuss which fund is right for you.
Frequently Asked Questions
The main differences include investment focus (Private Equity vs Debt), minimum investment amounts (€100,000 vs €500,000), management fees (2% vs 1.7%), and fund managers (Fortitude Capital vs IM Gestão de Ativos (IMGA)). Each fund has different risk profiles and return targets suited to different investor preferences.
IMGA Portuguese Corporate Debt Fund has the lower management fee at 1.7% compared to 2%. However, consider the total cost including performance fees: Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado charges 20% performance fee while IMGA Portuguese Corporate Debt Fund charges None. The overall value depends on your investment goals and expected returns.
Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado requires a minimum investment of €100,000, while IMGA Portuguese Corporate Debt Fund requires €500,000. Both funds meet the Portugal Golden Visa minimum requirement of €500,000. Choose based on your available capital and diversification strategy.
Both Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado and IMGA Portuguese Corporate Debt Fund are marketed by their managers as intended for the Portugal Golden Visa program, meeting the minimum €500,000 investment requirement and being properly regulated investment funds. Eligibility must be confirmed with Portuguese legal counsel before investing.
The choice between private equity (Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado) and debt (IMGA Portuguese Corporate Debt Fund) depends on your risk tolerance and investment goals. Private equity investments typically offer different risk-return profiles compared to debt. Consider your portfolio diversification needs and long-term investment strategy.
Redemption terms vary between funds. Fortitude Portugal Special Situations II – Fundo de Capital de Risco Fechado offers End of Term redemptions, while IMGA Portuguese Corporate Debt Fund provides Daily redemption opportunities. Check the specific notice periods and any redemption fees that may apply. Consider your liquidity needs when choosing between these options.
All fund data is regularly verified against official sources including fund prospectuses, regulatory filings, and direct communication with fund managers. Data freshness indicators show when each fund's information was last updated. We recommend reviewing the latest fund documents and speaking with the fund managers before making investment decisions.
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