INZ Fund
STAG Fund Management
INZ Fund
INZ Fund
INZ Fund is a closed-end alternative investment fund regulated by CMVM — Comissão do Mercado de Valores Mobiliários and managed by STAG Fund Management, investing in private equity with a minimum commitment of €150,000 and a 60-month lock-up period.
- Manager
- STAG Fund Management
- Regulator
- CMVM — Comissão do Mercado de Valores Mobiliários
- ISIN
- Class B-PTSFM4IM0009; Class C-PTSFM5IM0008;
- Strategy
- Private Equity
- Min. Investment
- €150,000
- Typical GV Ticket
- €500,000
- Fund Size
- €50M
- Management Fee
- 1.6%
- Performance Fee
- 15% (6% hurdle)
- Lock-up
- 60 months
- Redemptions
- End of Term
- Custodian
- Bison Bank
- Auditor
- Baker Tilly
- Status
- Open
- GV-intended
- Manager-stated GV intent
Investor decision panel
What to know before shortlisting this fund
Best for
- Investors seeking private equity exposure through a Portugal-regulated fund.
- Investors who need a fund currently open for subscriptions.
- Investors comfortable with a balanced risk profile.
Avoid if
- You need liquidity before the stated 60-month lock-up period.
Key unknowns
- CMVM ID
Main diligence flags
- No major flags detected. Confirm current documents before investing.
Golden Visa note: The manager states this fund is intended for Golden Visa applicants, but this claim is not shown as independently verified here.
Fund Snapshot
Key Facts
Fees
Additional Details
Compliance
Capital at risk. Past performance isn't indicative of future returns. This is not investment advice.
Historical Performance
Fund Overview
About the Fund
INZ is a closed-ended Private Equity fund focused on renewable energy and energy-efficiency assets across Iberia, fully engineered for Golden Visa eligibility. Managed by STAG Fund Management and in line with UN Sustainable Development Goals, the fund aims to create steady, long-term value by investing in distributed solar, clean transportation, and low-carbon infrastructure using a careful, impact-focused approach.
The STAG INZ Fund is a regulated Private Equity vehicle designed to capitalise on Europe’s accelerating transition to clean energy, with a clear mandate to invest in renewable power generation, energy-efficiency technologies, and low-carbon infrastructure across Portugal and Spain. Structured as a Fundo de Capital de Risco Fechado, the fund combines the resilience of infrastructure-like assets with the growth potential of equity, making it a compelling option for investors seeking long-term value creation in the Net Zero economy. At its core, INZ targets high-impact opportunities that generate predictable, recurring revenue streams, such as distributed rooftop solar, subscription-based energy services, storage systems, and electrification solutions. These assets tend to benefit from stable demand fundamentals, inflation-linked pricing, and supportive European regulatory frameworks. By focusing on proven technologies and operational businesses rather than speculative development plays, the fund maintains a balanced risk profile while aiming for consistent performance throughout its eight-year lifecycle. INZ is fully aligned with the UN Sustainable Development Goals, especially Affordable and Clean Energy and Climate Action. Investments are screened against strict KPIs to ensure measurable environmental impact alongside financial return. The fund is managed by STAG Fund Management, an established CMVM-regulated manager known for its disciplined governance, institutional oversight, and experience operating Golden Visa–eligible funds. Annual audits by Baker Tilly and a transparent, compliance-first structure further strengthen investor confidence. Crucially, INZ meets all requirements of the Portuguese Golden Visa program under the post-2023 legislative framework, with more than 60 percent of capital allocated to Portuguese companies and zero exposure to prohibited real estate activities. With a target fund size of €50 million and a strategic focus on essential energy infrastructure, INZ enables investors to participate directly in Europe’s clean-energy transformation while supporting a more resilient and sustainable future.
Regulatory Identifiers
We source from CMVM-regulated managers where applicable. Verify each fund's registration and GV suitability with counsel.
Key Terms
Key Terms
Information as reported by fund manager. Terms may vary by investor class.
Financial Details
Fees
Fee Structure
Fee Calculator
Geographic Allocation
Redemption Terms
As a closed-ended Private Equity vehicle, investors must remain committed until the fund’s maturity. Liquidity is only possible through a private transfer of units to another buyer, subject to manager approval and no guaranteed secondary market.
Redemption terms may vary by investor class. Verify details with the fund manager.
Fund Structure
Fund Category
Regulatory & Compliance
Always confirm regulatory details with the fund manager and legal counsel before investing.
Team Information
Fund Team
8 team members
Team members are employed by the fund manager, not Movingto. Profiles listed for directory comparison.
António Pereira brings deep operational and regulatory expertise to STAG, where he oversees core business functions, financial operations, and...
Diogo Saraiva de Ponte is an experienced investment leader who has managed more than €1 billion across global private equity, real estate and...
Gisela leads STAG’s Legal and Compliance functions, ensuring adherence to regulatory requirements across all funds. With more than 20 years of...
Manuel leads STAG’s Real Estate division, bringing over a decade of international experience in investment management, financial oversight, and...
Nathan leads Business Development at STAG Fund Management, focusing on international client acquisition, strategic partnerships, and tailored...
Francisco serves as Investor Relations at STAG Fund Management, combining a marketing background with hands-on experience across acquisitions, asset...
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Enquire About INZ Fund
Speak with a MovingTo advisor about this fund. Our team will review your enquiry and get back to you.
Disclaimer: This enquiry does not constitute investment advice or a commitment to invest. All investments carry risk. Past performance does not guarantee future results.
Important Notice for Investors
Investment in funds involves risks, including the possible loss of principal. Please read all fund documentation carefully before making any investment decisions. Past performance is not indicative of future results.
Investment Calculator
Project potential returns based on your investment parameters
Display returns after disclosed management and performance fees
Fund minimum: €150,000
Typical holding period
Fund target: 8% p.a.
Investment Risk Disclosure: These projections are for illustrative purposes only and do not guarantee future performance. Past performance is not indicative of future results. All investments carry risk, including potential loss of principal. Consult with a qualified financial advisor before making investment decisions.
Compare INZ Fund
Compare INZ Fund with similar investment funds to analyze performance, fees, and investment requirements.
Frequently Asked Questions
The fund targets renewable energy and energy-efficiency assets across Iberia, including distributed solar, storage, clean mobility, and infrastructure supporting the energy transition. The emphasis is on operating companies generating recurring, contract-based revenue.
Yes. INZ complies with all updated legislation by investing in Portuguese commercial companies—not real estate—and maintaining a Portugal allocation above 60%. It fully qualifies under the “Capitalisation of Companies” route.
The fund accepts a minimum subscription of €150,000, though Golden Visa applicants typically subscribe €500,000 to meet ARI eligibility requirements.
INZ is a closed-ended fund with an 8-year term. Investors cannot redeem early; exits only occur at maturity or through a secondary transfer of units, subject to manager approval.
The fee structure includes a 1.60% annual management fee, a 20% performance fee, and a 6% hurdle rate. A subscription fee of around 1% may also apply. There is no redemption fee.
No. As a 2023/2024-vintage fund still in its subscription phase, INZ has not yet published its NAV history, distributions, or realised exits. Any performance numbers are targets, not historical returns.
Returns are expected to come from recurring energy-production revenues (e.g., subscription-based solar), efficiency savings, and eventual exits of portfolio companies. The strategy aims to combine infrastructure-like stability with Private Equity upside.
The fund is managed by STAG Fund Management (STAG Management SCR, S.A.), a CMVM-regulated investment firm managing multiple alternative funds and experienced in Golden Visa-compliant structures.
INZ is audited by Baker Tilly, an international audit firm that provides independent verification of financial statements and NAV calculations, ensuring transparency and regulatory oversight.
The fund is considered “Balanced,” reflecting its focus on proven energy-infrastructure assets with contracted cash flows, while still carrying the illiquidity and development risks common to Private Equity.
No. INZ has zero direct or indirect real estate exposure. It invests only in operational energy and infrastructure companies to comply with the post-2023 Golden Visa regulations.
Yes. The fund is open to U.S. investors, and STAG typically provides PFIC/QEF reporting to satisfy IRS requirements, making the structure suitable for U.S. citizens and residents.
The subscription window closes on February 22, 2026. Until then, the fund remains in capital-raising and early deployment stages.
The profile marks this fund as Golden Visa intended. Eligibility must still be confirmed against current law, fund documents, and the applicant's own legal file.
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