This website provides information for general purposes only.Read our full disclaimer
Movingto Logo
Manager profile listed

Oxy Capital

Oxy Capital, based in Lisbon, is a CMVM-regulated Portuguese fund manager listed on Movingto Funds. Operating in Portugal as Oxy Capital, the firm is connected to the fund profiles shown below for directory and due-diligence research. Each fund should be reviewed on its own profile for current verification status, CMVM details, Golden Visa eligibility basis, and source documentation before any decision is made.

Oxy Capital is a leading Portuguese alternative asset manager with more than €1.4 billion under management across private equity, special situations, and public-market strategies. Known for its hands-on approach and strong institutional pedigree, the firm applies deep operational expertise to every investment.

2
Total Funds
Multi-Strategy Manager
Primary Strategy
SGOIC profile
Profile Status

About Oxy Capital

Founded in 2012 during Portugal’s economic recovery period, Oxy Capital has grown into one of the country’s most sophisticated independent investment managers. Its origins in corporate restructuring shaped a culture built on rigorous analysis, operational improvement, and close engagement with portfolio companies. Over time, the firm expanded into growth capital, special situations, and public-market investing, evolving into a multi-strategy platform with offices in Lisbon and Milan.

Oxy Capital funds and fees at a glance

Fund-reported terms for every Oxy Capital fund listed on Movingto Funds. Where a figure is not disclosed by the fund, it is shown as not disclosed.

Fund Status Category Min. investment Management fee Performance fee Subscription fee Redemption fee Golden Visa
Mercúrio Fund II, FCR
Open
Private Equity €100,000 2% 20% 2% None
GV eligible
Portugal Liquid Opportunities, FCR
Open
Other €100,000 1.2% 20% 2% Not disclosed No

Figures are reported by each fund and shown for research. Review each fund profile for current terms, verification status, and source documents before any decision.

Open Opportunities

Currently accepting new investments

OC

Mercúrio Fund II, FCR

Open
Data reviewed Dec 12, 2025
PFIC: QEF available
Private Equity

Mercúrio Fund II, FCR is a closed-ended private equity fund managed by Oxy Capital, focused on acquiring and transforming mature Portuguese SMEs. Launched in 2025, it targets special situations, operational turnarounds, and growth-stage opportunities while remaining fully compliant with Portugal’s post-2023 Golden Visa rules and maintaining zero real-estate exposure.

ISIN: PTOXSEIM0007CMVM: 1851Min: €100,000Mgmt: 2%
Min. Investment€100,000
Lock-up Period8 years
RedemptionEnd of Term
Fees:2%Mgmt·20%Perf
OC

Portugal Liquid Opportunities, FCR

Open
Review date pending
PFIC: QEF available
Other

Min: €100,000Mgmt: 1.2%
Min. Investment€100,000
Lock-up PeriodNo lock-up
RedemptionWeekly
Fees:1.2%Mgmt·20%Perf

Oxy Capital track record

Figures below are reported by the funds themselves. Past performance does not guarantee future results.

2012
Earliest fund inception
1
Fund with reported returns
Fund Reported annual returns
Mercúrio Fund II, FCR 2024-04: 0.3% · 2024-05: 1.4% · 2024-06: 0.9% · 2024-07: 1.8% · 2024-08: 0.6% · 2024-09: 1.2%

Funds Managed by Oxy Capital

Public fund profiles associated with Oxy Capital. Review each fund's own profile for Golden Visa eligibility basis and verification status.

Key Highlights

Strategic Crisis-Era Foundations

Born during Portugal’s post-crisis restructuring period, Oxy developed rare expertise in reviving struggling companies and executing complex operational turnarounds across multiple sectors.

Dual-Market European Presence

With hubs in Lisbon and Milan, the firm accesses deeper industrial deal flow, giving investors broader exposure than managers focused solely on the Portuguese market.

Major Transaction Capability

Oxy has executed notable deals such as acquiring a 25% stake in Brasmar and backing unicorn Feedzai, demonstrating strong access to both traditional and high-growth opportunities.

Hands-On Investment Approach

The team works directly with company leadership, shaping strategy, capital allocation, and operations rather than acting as a passive financial investor.

Meaningful Partner Co-Investment

Oxy’s senior partners commit substantial personal capital to their strategies, creating strong alignment with investor interests and reinforcing long-term accountability.

Private Equity Discipline in Public Markets

The firm applies intensive research and concentrated positioning to listed companies, blending private-equity decision-making with the liquidity of public markets.

Favorable for U.S. Investors

Oxy’s public-equity structures are often easier for U.S. citizens navigating FATCA and PFIC rules compared to traditional private equity or venture capital funds.

Independent Verification of Results

Top-tier auditors validate performance reporting for key strategies, providing investors with an extra layer of transparency and reliability.

Social Impact Integration

Oxy actively promotes profit-sharing models within its portfolio companies, supporting fairer value distribution and stronger employee participation in long-term gains.

Liquidity Without Complexity

Unlike 7–10-year lock-up funds, Oxy offers Golden-Visa-eligible vehicles with real liquidity options, giving investors flexibility without compromising eligibility rules.

Oxy Capital regulatory and legal details

Identifiers below can be checked against the official registers they link to. The CMVM is Portugal's securities regulator; registration means supervision, not an endorsement or a guarantee.

Entity type
SGOIC
CMVM registration
103588
Legal Entity Identifier (LEI)checked 2026-07-16
254900HIEAL9OPWTQV24(opens the GLEIF record)
Fund CMVM ID ISIN Auditor Custodian
Mercúrio Fund II, FCR 1851 PTOXSEIM0007 Ernst & Young (EY) Bison Bank, S.A.
Portugal Liquid Opportunities, FCR Not disclosed Not disclosed Ernst & Young (EY) Not disclosed

Team

GM
Partner

Gonçalo Mendes is a founding partner at Oxy Capital and one of the firm’s key strategic leaders. With a background that includes an MBA from Harvard...

TCDS
Partner

Tomás Castro de Sá is a Partner at Oxy Capital with a strong track record in private equity and operational value creation. Since joining the firm in...

GVC
Partner

Guilherme Valadares Carreiro is a Partner at Oxy Capital and one of the leads behind its Liquid Opportunities and Golden Visa-focused strategies....

PS
Partner

Pedro Sousa is a Partner at Oxy Capital and a key figure behind the firm’s public-market and Liquid Opportunities strategies. Before joining Oxy, he...

IP
Partner

Igor Pereira is a long-standing Partner at Oxy Capital with more than a decade of experience driving the firm’s investment strategies. Before joining...

MBR
Principal

Miguel Bicker Realista is a Principal at Oxy Capital, one of Portugal's leading alternative asset management firms. Based in Lisbon, he works across...

BCG
Senior Associate

Bernardo Canedo Gomes is a Senior Associate at Oxy Capital, where he supports transaction execution and portfolio value creation across multiple...

TP
Private Equity Associate

Tiago Proença is an Associate at Oxy Capital, where he supports deal sourcing, financial modelling and portfolio value-creation initiatives. He...

Frequently Asked Questions

Oxy blends proprietary research with deep industry networks in Portugal and Italy. Many opportunities come through direct outreach, sector experts, and longstanding relationships with founders, family businesses, and corporate leaders.

Their team spends significant time onsite with companies, reviewing operations, supply chains, and leadership dynamics. This “ground truth” approach often reveals strengths or risks that don’t appear in financial statements.

Most strategic actions are led internally. Oxy frequently appoints board members, restructures governance, and collaborates closely with management rather than outsourcing oversight to temporary consultants.

While selective, Oxy avoids over-concentration in any single industry. Its portfolios typically include a mix of industrials, consumer goods, technology, and export-driven businesses to balance cyclical and defensive themes.

Yes. The team actively adjusts its opportunity set based on economic conditions, leaning into special situations during downturns and growth-orientated plays when market sentiment strengthens.

Support varies by company but often includes capital allocation guidance, margin-improvement initiatives, expansion planning, and helping management teams professionalise financial reporting and governance.

Investors receive detailed periodic reports, portfolio updates, and commentary explaining performance drivers. Oxy’s transparency allows investors to understand both the strategic rationale and ongoing execution.

Yes. Oxy occasionally collaborates with European institutional investors on larger transactions, giving its portfolio companies access to broader expertise and additional capital when needed.

Contact & Regulatory Information

Connect With Us

Contact Details

Website
oxycapital.com/
Location
Lisbon

Regulatory Information

CMVM Registration Number
103588
License Number
CMVM-103588

Ask Movingto about Oxy Capital

Share your questions with Movingto. Your enquiry comes to our team first and is not sent directly to the manager from this site.

Disclaimer: Your enquiry goes to Movingto. Movingto does not provide investment advice or introduce visitors directly to fund managers from this site. Capital is at risk. Target returns are fund-stated objectives, not forecasts or guarantees. Confirm all details against the fund prospectus/KID and qualified advisers.

    We use cookies to enhance your experience

    We use optional cookies for support chat, site analytics, and saved preferences. Read our Cookie Policy for more information.