Fundamentals01
Good business, bad balance sheet
We buy companies with solid operating fundamentals and a stressed capital structure. Never the reverse — a balance sheet can be fixed; the absence of a business cannot.
About
Alternative investment manager focused on private equity and specialised in special situations, private credit and strategic advisory.
The mandate
We were founded with a specific mission: to give institutional access to complex opportunities, with technical rigour and full alignment of interests. Complex, here, is not a marketing adjective — it describes the kind of asset we work with, the kind that demands structural work before it produces a return.
From real asset management to crisis management, from structuring CRA, CRI, FIDC and debentures through to property development projects, our team architects a specific answer for each case. We carry no off-the-shelf product, because a special situation is never solved with one.
We bring together people trained on trading desks, in restructuring and in capital markets, and equip them with the technology and data to decide quickly under uncertainty. Alignment of interests is not a contract clause: we put proprietary capital alongside the capital we manage.
How we decide
They define what enters the portfolio and, more importantly, what stays out.
Fundamentals01
We buy companies with solid operating fundamentals and a stressed capital structure. Never the reverse — a balance sheet can be fixed; the absence of a business cannot.
Control02
We take risk only where we hold a seat that can change direction. A minority position without governance is a bet, and a bet is not a thesis.
Collateral03
Every deal starts with what holds the credit up and which door we exit through. Price is the last variable to be set, never the first.
Exit04
We model the exit before the entry: strategic buyer, institutional fund or capital markets. Without a mapped exit, there is no deal.
We are not allocators of capital. We are architects of financial and operational solutions.
Group structure
Each works a different side of the market, with its own team and mandate — and one shared thesis about where value is created.
Division 01 · Private markets
The arm operating in private markets, investing in companies, startups and real assets. Value does not come from the allocation itself but from the intervention: governance, capital restructuring and operational discipline applied after the acquisition.
Division 02 · Advisory and DCM
The arm providing advisory and financial solutions to companies and individuals in special situations, operating in the debt capital markets and in mergers and acquisitions. We work with accredited partners across structuring, distribution and custody.
The team
Much of our leadership came from established houses, grew internally and moved into command. That creates an explicit obligation: to build the next generation inside the same values rather than simply hiring it ready-made.
From senior partners to trainees, everyone takes part in building and executing the theses. The desk runs on one rule: a well-argued case beats seniority. That is how you avoid the expensive mistake of confusing consensus with conviction.
We look for people who are bothered by the established way of doing things and who bring the technical rigour to propose a better one.
Presence
The São Paulo office gives the brand a physical signal: direct presence over assets, close decision-making and a space where mandates are discussed with the same discipline shown in the work.
Next step
Acquisition mandates, debt structuring, balance-sheet restructuring or company sale. The first conversation is technical and carries no obligation.