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GFG Capital, LLC

Multifamily office listing in Miami, Florida, United States.

  • SEC-registered
  • Founded 2003
Regulatory AUM
$1.0 billion
Employees
16
Founded
2003
SEC CRD
128059

Independent Miami-based multi-family office providing wealth management, investment advisory, and family office services to high-net-worth families and other institutional clients.12

Overview

GFG Capital, LLC operates as GFG Capital, a Miami-based registered investment adviser with SEC file number 801-62274 and CRD number 128059. The firm describes itself as an independent multi-family office serving families through wealth management and investment advisory services.12

History

Brothers Eduardo Gruener and Mauricio Gruener founded GFG Capital in Miami in 2003, initially offering private wealth management.3

Leadership

Eduardo Gruener and Mauricio Gruener are co-founders and co-CEOs. Eduardo previously worked in Deutsche Bank Securities’ Global Corporate and Investment Banking division. Mauricio previously worked in private client services at Credit Suisse First Boston and in the Lehman Brothers Wealth Management Group and Republic National Bank of New York.456

The team also includes Tucker Donahue, CFA, chief investment officer; Veronica Granata, general counsel and chief compliance officer; Andres Carpio, head of operations; and Edgar Zbeda, head of trading.4

Services

GFG Capital provides discretionary and non-discretionary portfolio management, customized investment policies, account management, periodic rebalancing, core-satellite portfolio construction, and selected equity investments.7

Its portfolio analytics platform offers consolidated reporting, benchmarking, monitoring, customization, and online access across accounts and custodians.8

Family office administration includes insurance management, bill payment, property management, financial planning, and cash-flow management.9

The firm’s accounting and reporting capabilities cover asset-level accounting, joint ventures, tax structuring, audit monitoring, and financial reporting.13

GFG Capital also reports that its acquisitions team has deployed approximately $700 million of equity alongside institutional and private investors, endowments, investment managers, and family offices.12

What the firm offers

  • Investment management
  • Financial planning
  • Tax planning
  • Administration and bill pay
  • Risk and insurance
  • Private and alternative investments

Client Focus

The firm says it serves high-net-worth private clients and their families. Its Form ADV lists individuals, high-net-worth individuals, pooled investment vehicles, pension and profit-sharing plans, corporations, third-party asset managers, and insurance companies among its client types.11

Approach

GFG Capital states that its investment principles include downside protection, asset allocation, evidence-based decisions, cost efficiency, and a blend of core beta and satellite investments.10

Assets and Minimums

GFG Capital reports approximately $700 million of equity deployed by its acquisitions team alongside institutional and private investors, endowments, investment managers, and family offices.12

The firm’s Form CRS states that portfolio management fees may be charged as a percentage of assets under management, with hourly and fixed-fee arrangements also available. Qualified clients may have performance-based fees.15

By the numbers

Regulatory AUM by year$0K$279M$558M$837M$1.1B2016201720182019202020212022202320252026
Source: SEC Form ADV data (Part 1A, Items 5A, 5D, 5F) via SEC Information About Registered Investment Advisers files and IAPD, CRD 128059. As of .
Regulatory assets under management
YearRegulatory AUMDiscretionaryNon-discretionary
2016$881 million$668 million$213 million
2017$790 million$586 million$204 million
2018$804 million$602 million$202 million
2019$771 million$597 million$175 million
2020$762 million$591 million$171 million
2021$881 million$784 million$97 million
2022$962 million$872 million$90 million
2023$776 million$709 million$67 million
2025$891 million$876 million$15 million
2026$1.0 billion$905 million$110 million
Average AUM per client by year$0K$1M$3M$4M$6M20182019202020212022202320252026
Source: SEC Form ADV data (Part 1A, Items 5A, 5D, 5F) via SEC Information About Registered Investment Advisers files and IAPD, CRD 128059. Regulatory AUM divided by the client count reported in Item 5D. Client types reported as fewer than 5 are not counted, so this is approximate. As of .
Average AUM per client
YearAverage AUM per client
2018$3 million
2019$5 million
2020$5 million
2021$5 million
2022$5 million
2023$4 million
2025$3 million
2026$3 million
Clients by type (2026)High net worth individuals207Corporations78Individuals4Pension plans2
Source: SEC Form ADV data (Part 1A, Items 5A, 5D, 5F) via SEC Information About Registered Investment Advisers files and IAPD, CRD 128059. "<5" means the firm reported fewer than 5 clients of that type. As of .
Clients by type
Client typeClients (2026)
Individuals4
High net worth individuals207
Pension plans2
Corporations78
Employees by year05914192016201720182019202020212022202320252026
Source: SEC Form ADV data (Part 1A, Items 5A, 5D, 5F) via SEC Information About Registered Investment Advisers files and IAPD, CRD 128059. As of .
Employees reported on Form ADV
YearEmployees
201615
201717
201815
201914
202013
202113
202216
202315
202515
202616

Ranks #10 of 23 SEC-registered firms in FL on MultifamilyOffices.com by regulatory AUM.

Source: SEC Form ADV data (Part 1A, Items 5A, 5D, 5F) via SEC Information About Registered Investment Advisers files and IAPD, CRD 128059. Ranking uses only firms profiled on MultifamilyOffices.com. As of .

FAQs

What type of firm is GFG Capital?

GFG Capital is an independent multi-family office and SEC-registered investment adviser serving families and other client types.1211

What family office services does GFG Capital provide?

Its family office administration services include insurance management, bill payment, property management, financial planning, cash-flow management, consolidated reporting, accounting, tax structuring, audit monitoring, and financial reporting.8913

Who leads GFG Capital?

Co-founders Eduardo Gruener and Mauricio Gruener serve as co-CEOs. The senior team also includes Tucker Donahue, CFA, Veronica Granata, Andres Carpio, and Edgar Zbeda.4

  • LocationMultifamily offices in Miami

    Use this directory to compare Miami based multifamily offices by services, client focus, and location. It can help a family or business owner assess how GFG Capital's investment management, planning, tax, and administrative offerings fit within the local advisory market.

  • Network siteCapitalGainsTax.com

    CapitalGainsTax.com explains capital gains tax rules and planning approaches that may affect investment decisions. Its guides can help Miami families and business owners prepare questions about tax planning alongside portfolio management and private or alternative investments.

  • Network siteFamilyOffices.com

    FamilyOffices.com offers educational resources and a community for single family offices and wealthy families. Readers can use it to understand governance, administration, investment oversight, and family priorities when evaluating services such as those offered by an independent multifamily office.

  • GuideOutsourced CIO vs multifamily office

    This comparison explains how an outsourced CIO differs from a multifamily office in responsibilities, structure, and client support. It can help an owner decide whether they need investment oversight alone or a broader arrangement that includes planning, tax coordination, bill pay, risk, and family office administration.

  • Similar firmsLegacy Family Office, LLC
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    Profiles for Legacy Family Office, LLC, Barclay Breland Family Office, and Correll Capital provide additional firms to review on this site. Comparing their stated services, locations, and client types with GFG Capital's Miami focus can help a family or business owner organize initial questions for introductory conversations.

Sources

  1. SEC Form ADV
  2. GFG Capital
  3. GFG Capital History
  4. GFG Capital Our Team
  5. Eduardo Gruener
  6. Mauricio Gruener
  7. GFG Capital Services
  8. Family Office Analytics
  9. GFG Capital What We Do
  10. GFG Capital Services
  11. Eduardo Gruener and Form ADV Part 2A
  12. GFG Capital What We Do
  13. GFG Capital What We Do
  14. GFG Capital Our Team
  15. GFG Capital Form CRS

Claim or correct this profile

This profile is a factual summary written in our own words from public sources. It is for information only. It is not an endorsement, rating, ranking or recommendation, and it is not investment advice. MultiFamilyOffices.com is not affiliated with the SEC or with this firm unless stated. Form ADV figures are self-reported by the firm.

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