The creator of asset manager and wealth advisory Arbra Partners talks about why he started his business, opening a new office in the United Arab Emirates, and his latest investment project in Portugal.

After spending a decade in family offices, Lucas Bitencourt (pictured), founder of London-headquartered Arbra Partners, told WealthBriefing this month that he started Arbra Partners in 2022 out of frustration.

Arbra Partners – a business with a global footprint – is an asset manager and wealth advisory firm covering alternative assets. It allocates capital for ultra high net worth individuals (UHNWI) and family offices. 

“I spent a decade in family offices," Bitencourt said in an interview. "Investors are globally minded but locally trapped." He cited the example of a UK investor interested in the Latin American market. “The connective tissue is missing in many firms. At Arbra, we work across four sectors: asset management, personalised wealth advisory, private market access, and select special situations,” he continued. “What sets us apart at Arbra is a unified view, with a range of capabilities. There is a disconnect in some firms which we bridge. Market infrastructure has become burdensome and inefficient, with deals often taking months. We try to optimise this process.”

At present, Bitencourt has offices in Mayfair and Geneva. In line with a number of firms that have been increasing their presence in Dubai and neighbouring Abu Dhabi, Bitencourt plans to open a new office in the UAE by the end of the year, despite the Middle East conflict. He sees a lot of opportunities in the Gulf and he wants to have a presence there to capitalise on them. Bitencourt believes demand will be there for the next 50 years, and flare-ups such as the current Middle East conflict, should not impact that.

A number of firms such as KRR, a New York-headquartered investment manager, and Zurich-headquartered private bank UBS, have also bolstered their presence in the Middle East recently, exploiting the rising level of demand for wealth management.

Palheta project
In Portugal, Bitencourt has launched the Palheta project – a £110 million ($147 million) luxury eco-tourism resort development. It is being designed by British architect John Pawson on 300 hectares of land in the Alentejo region of Portugal. This project represents Bitencourt's wish to redefine investment opportunities and wealth deployment by twinning capital with culture.

The resort incorporates an 18th century main house restored into a 5-star boutique hotel, with between 50 and 60 rooms; 35 private villas; 20 country cottages; a vineyard; a wine club built in a century-old winery; and an open-air amphitheatre. It has a targeted opening date of 2028. There will also be an art gallery, wellness facilities, artists' studios, as well as equestrian and sporting facilities. There are plans to involve local craftspeople and artisans to be a part of it, and use local produce and wines in the food and beverage offerings, too.

Bitencourt said that many people were wanting to move to the countryside and have a slower pace of life after Covid. “The project offers investors wellness and cultural facilities under one roof,” he continued. He emphasised that a lot of expats from the US, Brazil, the UK and Europe have been looking at Portugal with demand increasing in the Alentejo region which the project aims to capitalise on.

This project is a model of what Bitencourt wants to offer investors – the chance to buy assets that have significance and align with their cultural values and sensibilities. See more about the fast growing firm here.