Governance Model
A Governance Model Designed For Investment Discipline
At Heritage Private Fund Management, we implement a governance model designed to strengthen investment discipline, capital preservation, prudent risk management, and alignment of interests with our investors.
Our structure is designed to promote high standards of evaluation, oversight, transparency, and control, incorporating rigorous analysis processes and institutional decision-making mechanisms for each investment vehicle.
5+
Pillars
Investment Committee
Each investment opportunity will undergo a structured evaluation process prior to approval, based on risk-return criteria, feasibility, and alignment with the investment strategy of the respective vehicle.
The Investment Committee will be responsible for reviewing and approving decisions related to:
Asset acquisitions and divestments.
Capital structuring.
Monetization strategies.
Material portfolio changes.
Extraordinary investment decisions.
The evaluation process will incorporate financial, technical, legal, regulatory, and commercial analyses, seeking to strengthen underwriting discipline and execution quality.
The Investment Committee is composed of professionals with relevant experience in real estate, financial structuring, private capital, asset management, and specialized legal advisory.
Comprehensive Risk Management
Heritage will implement a comprehensive risk management approach designed to identify, assess, monitor, and mitigate relevant risks associated with each investment opportunity.
The analysis will consider, among other factors:
Financial Risk
Assessment of capital structure, return sensitivity, liquidity, stress scenarios, and financial execution capacity.
Legal and Regulatory Risk
Analysis of title, legal contingencies, contractual structures, compliance, and corporate matters.
Real Estate and Market Risk
Assessment of location, absorption, valuation, demand, market liquidity, and development potential.
Operational Risk
Review of permits, execution, counterparties, costs, timelines, and other relevant operational factors.
Multidisciplinary Due Diligence
Prior to any investment decision, Heritage will conduct rigorous due diligence processes designed to comprehensively validate each investment opportunity.
The analysis may include:
Technical and Planning Due Diligence
Financial and Modeling Due Diligence
Legal and Title Due Diligence
Tax Due Diligence
Regulatory Due Diligence
Commercial and Market Due Diligence
This process is intended to strengthen decision-making and support capital preservation through an objective assessment of risks and opportunities.
Independent External Audit
As part of its commitment to strengthening transparency and corporate governance standards, Heritage intends to engage an independent external auditing firm to periodically review the financial information and relevant processes of its investment vehicles, in accordance with the scope applicable to each structure.
The external audit will be intended to:
Strengthen internal control mechanisms.
Enhance financial transparency.
Provide additional confidence to investors.
Promote best practices in corporate governance.
Investor Reporting & Transparency
Heritage will maintain a periodic communication policy designed to provide investors with clear, relevant, and timely information.
Reports may include:
Overall portfolio performance.
Asset and project performance.
Relevant operational updates.
Investment and monetization milestones.
Applicable financial indicators.
Financial statements and material events.
The frequency and scope of reporting will be determined based on the nature and investment strategy of each investment vehicle.
Trust Structures & Asset Protection
To strengthen legal certainty, asset segregation, and alignment of interests with investors, certain investment vehicles managed by Heritage may be structured through private administration, security, or asset-holding trusts, administered by specialized fiduciary institutions.
Depending on the nature of each strategy, real estate assets, associated cash flows, or economic rights may be held within an independent trust structure designed to:
Strengthen the segregation of assets.
Provide greater legal protection for investors.
Facilitate asset management and monetization processes.
Enhance control and governance mechanisms.
Strengthen security structures over underlying assets.
The applicable trust structure will be determined based on the nature of each investment vehicle and may vary according to its strategy, assets, and risk profile.
"At Heritage, we believe that a robust governance structure is fundamental to strengthening investment discipline, aligning interests, and generating sustainable long-term value"
© Heritage Gestora de Fondos. All rights reserved 2026
Contact
+506 87 96 71 22
Address
San José, Costa Rica
info@heritagegestoradefondos.com
IMPORTANT
The investment vehicles managed by Heritage Gestora De Fondos are private investment structures. They do not constitute a public offering of securities under the laws of the Republic of Costa Rica.