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WHO WE ARE

A boutique built on institutional rigour

Value-add and opportunistic strategies, pursued where the outcome depends on technical, planning and financial judgement exercised together, underwritten to institutional standards and carried through from first analysis to delivery

Founded on excellence and fully committed to exceptional outcomes

RED12 is an independent Milan-based real estate investment firm operating across private equity, asset management, project and development management and strategic advisory. Constituted in 2023 through the spin-off of the dedicated real estate investment platform of a leading Italian family office, the firm pursues value-add and opportunistic strategies on behalf of institutional investors, family offices and private clients.

More than twenty years of collective experience inform the firm’s activity, spanning acquisitions, development, advisory and capital markets, accumulated alongside listed companies, institutional funds and private investors in Italy’s most liquid markets. Alongside transactional execution sits a proven capacity to raise institutional third-party capital, deployed in support of the family office’s proprietary equity and now underpinning the firm’s fundraising activity. Having operated as investor, asset manager and adviser, the firm approaches every opportunity from an owner’s perspective, assessing cost, programme and risk in an integrated manner.

Each opportunity is underwritten on its own fundamentals rather than against a predetermined allocation, whether a ground-up development in an established location or an asset whose present use constrains its performance. RED12 invests, develops and advises across the residential, hospitality, retail and mixed-use sectors, from listed heritage buildings and historic palazzi to underused assets awaiting a new purpose and sites suited to new development. Whether acting as financial sponsor or under third-party mandate, every transaction rests on a business plan defining the repositioning strategy, the capital requirement, the risk profile and the exit route, and against which performance is monitored throughout the holding period.

In its investment capacity, RED12 commits equity alongside that of its partners, securing full alignment of interests and assuming direct accountability for asset performance from initial underwriting through to final realisation. The same discipline governs its advisory mandates, where each recommendation is informed by direct ownership experience and tested against practice. Governance, process and reporting conform to the highest institutional standards, exercised with the responsiveness of a boutique structure, and periodic reporting affords investors continuous visibility on performance, risks and material decisions at every stage.

Six core principles underpin our investment approach

01

Agile operating structure

A collegial investment process with short decision chains, turning shared conviction into timely action.

02

Selective turnaround expertise

Addressing underperforming and underserved segments through repositioning and new development.

03

Proactive risk mitigation

Anticipating execution risk across every phase of a development, through active oversight and control.

04

Accountable client coverage

Bespoke mandates and senior-level involvement, built on direct relationships and measurable outcomes.

05

Holistic strategic advisory

An end-to-end approach that identifies untapped potential and directs clients towards viable alternatives.

06

Privileged industry network

Deep market reading, established counterparty access and the regulatory fluency to execute.

~ €250 M

AUM

11+ Projects

Across all services 

155k sqm

Managed

~ €450 M

CAPEX pipeline

20+ yrs

Track record 

Senior expertise applied across every stage of the investment process

MEET THE TEAM

Aldo Giacin

CEO & Founder

Guglielmo Vaghi

Partner | Asset Management

Andrea Castorello

Head | Project & Development

Nicholas Capochiani

Manager | Investments

Anna Manzoni

Head | Planning & Control