The practice

Before the market, and within the documents.

Most transactions fail on capital rather than on the asset. The work sits in the layer between a sound project and the capital that will fund it: originating opportunities before they reach the intermediated market, underwriting them to the standard an investment committee will accept, and designing the joint venture, syndication and governance structures through which institutional investors, family offices and private principals participate.

Through The SAVI Group, founded in 2002, and SAVI Capital Partners, a joint venture with a United States family office principal, I also co-sponsor institutional real estate and infrastructure directly. That is the distinction between advising on a structure and standing inside one.

Services

Seven disciplines, retained singly or as a whole.

Each may be retained on its own or combined into a complete capital formation mandate. All of it is work produced on live engagements and available for review in redacted form.

Capital formation materials

Information memoranda, executive summaries, deal dossiers and blind teasers written to institutional standard

Typical deliverable

Teaser, executive summary, full information memorandum

Financial modelling and review

Model builds from source data and independent review of sponsor models, with two-variable sensitivity mapping and ranked downside driver analysis

Typical deliverable

Reviewed model, sensitivity heat map, downside driver chart, review memo

Transaction diligence

Data room architecture, indexing and diligence response management

Typical deliverable

Indexed multi-section data room and diligence tracker

Investor targeting

Institutional target schedules, decision maker identification, routing paths and outreach strategy

Typical deliverable

Target schedule and outreach intelligence brief

Structuring

Joint ventures, syndications, capital stacks, distribution waterfalls and governance terms written into fund documents

Typical deliverable

Term sheet, structure memo, waterfall model

Real assets

Off-market origination, underwriting, distressed and REO strategy, development and asset management

Typical deliverable

Investment memo and underwriting file

Southern Cone coverage

Cross-border structuring for Southern Cone capital, counterparty mapping and market briefs for foreign investors and family offices

Typical deliverable

Market brief, counterparty map, structuring memo

The distinction

Six distinctions of the practice.

01

Origination, underwriting and structure under one discipline.

Brokers source, bankers package, counsel structures. Here the three proceed in sequence under one hand, so that the package and the structure are built for the same investor.

02

A principal, not only an adviser.

Through SAVI Capital Partners I co-sponsor alongside a family office principal. My own name stands on the transaction beside the client's.

03

Complex counterparties and regulatory paths.

First Nations Additions to Reserve, tribal gaming approvals and compacts, a hospital programme on a military installation, produced water in a regulated basin. Such transactions stall on process rather than on capital.

04

Governance written into the documents.

Profit-sharing, compensation ratios and stewardship obligations belong in the fund documents, not the brochure. I have published the framework and built it into governing instruments.

05

Florida and the Southern Cone.

A licensed Florida real estate broker with two decades of South Florida deal flow, an industrial engineer trained at the Universidad Católica Argentina, native in English and Spanish, and a published analyst of the Argentine economy. For Southern Cone capital moving into United States real assets, that combination is uncommon, and it is verifiable.

06

A written view of the market.

More than thirty signed research pieces on monetary transition, sovereign credit, private equity governance and Argentine macroeconomics. The structures I build follow from that view, and the view is public.

Representative mandates

Described at the level the agreements allow.

Figures are equity requirements and sponsor projections, not realised returns. Counterparties, assets and locations are described in general terms, as the governing agreements require.

Multi-asset development portfolio, Western Canada.

A four-asset portfolio co-sponsored with a regional development group: two industrial districts advanced through First Nations Additions to Reserve agreements, a transit-oriented mixed-use tower within a metropolitan area plan, and a fully entitled mixed-use community of approximately one million square feet. Combined equity requirement of approximately USD 355 million against projected revenues exceeding USD 4 billion.

RoleCo-sponsor. Authored the portfolio executive summary and investor positioning.

Produced water and secondary recovery platform, a major United States onshore basin.

Approximately 950 leases and 880 wells within a single county, with a staged capital programme of approximately USD 1.5 billion through 2039.

RoleProduced the full institutional package. Executive summary and technical appendix, financial model review, two-variable return sensitivity mapping, ranked downside driver analysis, a ten-section diligence data room, and an institutional investor target schedule with decision maker identification and routing paths.

Tribal gaming, hospitality and digital economic zone, southeastern United States.

A casino development, market village parcels and a digital economic zone, covering federal Department of the Interior approvals, the tribal-state gaming compact, appraisals and title.

RoleExecutive summary and due diligence synthesis prepared for institutional and international capital partners.

Master-planned community and acute care hospital on a federal military installation, Southern California.

A master-planned community anchored by an acute care hospital, developed alongside national contractor and architect teams.

RoleSpecific plan and amendment, feasibility study, economic and fiscal impact analysis, demographic and psychographic analysis, and hospital programme and budget development.

Andean mining evaluation and Southern Cone aviation services.

Copper and gold project evaluation in the Argentine Andes, and a business aviation maintenance, repair and overhaul market study for Argentina and Uruguay.

RoleProject evaluation, and a market and feasibility study built on primary traffic and fleet data.

Cross-border practice

Argentina, read from both sides of the border.

I was trained as an industrial engineer in Buenos Aires and have spent my professional life in United States real estate and capital markets. Since 2025 I have published a continuous series on the Argentine economy: fiscal adjustment and its limits, the weakness of financial intermediation, capital and exchange controls, and what the country's monetary history says about reserve currencies generally.

The practice follows the capital that actually moves. Argentine and Southern Cone families structure through the United States and buy real assets in Florida and beyond. I work on that side of the flow: origination and underwriting of United States real estate, structuring of the vehicle, and the diligence a family office expects before it commits. Engagements are contracted with The SAVI Group in the United States.

For funds and research firms, the Argentine work is also available as expert consultation: market structure, regulatory mechanics, counterparties and timelines, and my own analysis. Not confidential information, and never the terms of a live mandate.

Research on Argentina

Terms of engagement

Remunerated for the work, not only for the outcome.

Every engagement is defined in writing. Most combine two of the structures below. Work is remunerated as it is delivered; a success fee, where one applies, aligns both parties rather than substituting for the work.

Retained advisory.

A monthly retainer for ongoing mandates such as a capital raise, a market entry or a portfolio programme, fully creditable against any success fee at closing. If the transaction closes, the client's total cost is unchanged.

Fixed-fee work product.

A priced deliverable: an information memorandum, a model review, a data room or an investor target schedule. Half on signature, half on delivery, independent of the transaction outcome.

Success fee.

A fee on closing, paired with a retainer or a work product fee. Where it relates to raising capital, it is structured in compliance with applicable securities regulation, including through licensed intermediaries where required.

Expert consultation.

Hourly calls and working sessions for investors, funds and research firms that need a practitioner view on real estate and infrastructure capital, energy and water, private equity governance or the Argentine investment environment. Also available through the major expert networks.

Process

1

Introductory call and mutual confidentiality agreement.

2

Written proposal: scope, deliverables, timeline, fees.

3

Engagement letter and first payment.

4

Delivery against agreed milestones, with a single point of contact throughout.

An indicative fee schedule is available on request.

Research

The view is public.

More than thirty signed pieces at thesavigroup.com/perspectives. Six bear most directly on this practice:

Argentina and monetary transition

Private capital and governance

All research →

Principal

Santiago Vitagliano

Santiago Vitagliano is founder and chief executive of The SAVI Group and co-founder of SAVI Capital Partners, and has structured institutional real estate, energy and private equity transactions across Europe and the Americas for more than twenty years. His mandates include a multi-asset development portfolio in Western Canada and a USD 1.5 billion produced water infrastructure platform in a major United States basin. He publishes research on monetary transition, private equity governance and Argentine macroeconomics. He was previously with OakRun Capital, Property Markets Group and Hines. He holds an MBA from Berkeley Haas and an MSc in Industrial Engineering from the Universidad Católica Argentina, and is a licensed Florida real estate broker and FAA commercial pilot. He is based between Fort Lauderdale and Buenos Aires.

Credentials

MBA, Haas School of Business, University of California, Berkeley
Diploma in Corporate Finance, University of California, Berkeley
MSc and BSc, Industrial Engineering, Universidad Católica Argentina
Real Estate Broker, Florida (active)
FAA Commercial Pilot (active)
Named or co-inventor on three US patents
Founder and Chairman of the Board, The SAVI Ministries, 501(c)(3)
Author of three books, published in English and Spanish

Full profile at The SAVI Group → Curriculum vitae available on request →

Contact

Begin the conversation.

An introductory conversation carries no fee and is held under a mutual confidentiality agreement. Describe what you are raising, structuring or evaluating, and where it stands.

Santiago Vitagliano

Founder and Chief Executive Officer, The SAVI Group

Offices
Buenos Aires · Fort Lauderdale

thesavigroup.com
thesavigroup.com/perspectives