The private debt asset class called Preferred Equity is considered as the execution of promises of sale of saleable units of one or more real estate projects. The Preferred Capital asset class is considered as the execution of promises to purchase and sell sale of sale of saleable units of one or more real estate projects, with prepayment of the price, together with the execution of options to rescind such promises, by virtue of which the Fund's company and the real estate developer or owner of the assets, while committing to enter into the promised sales and purchases, acknowledge the possibility that such commitments may be terminated ("Project"). These transactions will be guaranteed by means of an insurance policy or a bank draft, in accordance with the provisions of Article 138 bis of the General Law of Urbanism and Construction.

The financing structure is as follows:

• Payment of the purchase and sale promises is made once the building permit has been approved, which allows the sale of the green units to begin, with their respective guarantee policies.
• Periodically the real estate company pays the premium to the fund.
• As the real estate company sells green units, it has the option to replace them with other units of equal or better characteristics.
• Finally, the real estate company exercises its rescission option, paying the entire principal to the fund.

It has the following guarantees:

• Financial: Green sales guarantee policy, provided by law, which covers 100% of the capital in case the real estate company goes bankrupt or does not deliver the units in a timely manner.
• Real Estate: Promises to buy and sell units at a discount, allowing the acquisition of properties at a very low cost, in case the real estate company does not pay the premiums (loses the right of rescission), or in case it does not exercise its rescission option.

The structure can be seen graphically below: