Last updated: June 1, 2022, 3:29 p.m.
Data collected from ActivumSG

ActivumSG Capital Management Limited was founded by Saul Goldstein in 2007 to invest in niche opportunities in European real estate related sectors.  We do so by identifying high quality, but undervalued assets with unrealized potential.  We enhance the underlying assets through hands-on management and exit our investments when we can deliver stable assets at the right time and for the optimum price to generate exceptional returns to our investors.

ActivumSG has raised four funds to date.  Fund I (2009) and Fund II (2011) were €56 million and €248 million respectively, and are fully invested.  Fund III closed in March 2014 at €380 million and is nearly fully invested. Furthermore, Iberia Fund I closed in July 2015 at €200 million and is fully allocated.

The portfolio includes diversified assets, such as office value add, residential (re-) development, turn around retail, mezzanine loans, and special corporate situations. ActivumSG likes to operate in a niche space and typically transaction size ranges from €15 million to €200 million.

ActivumSG Advisory GmbH and ASG Iberia Advisors SL respectively, are Berlin/Frankfurt and Madrid based teams of local experts, dedicated to either acquisitions & sales or asset management.

ActivumSG’s aim is to build a portfolio of stable assets that deliver exceptional returns to our investors at relatively low risk and in doing so, to ensure a transparent, personalized and seamless experience that creates value for all stakeholders at every stage of the chain and across the entire transaction life cycle.

Player Type
Assets Managers
Main Listed Market
Free Float
Number of assets
Legal Domicile
Saul Goldstein

Saul Goldstein

Founder and Managing Partner

Brian Betel

Brian Betel

Managing Partner; Lerer Hippeau

Annemarie Manning

Annemarie Manning

Head of Business Development and Investor Relations

Carlos Molero Sánchez de la Blanca

Carlos Molero Sánchez de la Blanca


Alejandro Adan Manes

Alejandro Adan Manes

Senior Vice President


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