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BRBI BR Partners
BRBI BR Partners is a São Paulo-based, publicly listed multi-boutique asset manager founded in 2012 by Ricardo Lacerda and José Roberto Amador.
BRBI BR Partners
BRBI BR Partners was founded in 2012 in São Paulo by Ricardo Lacerda and José Roberto Amador, two financiers with deep ties to Brazilian capital markets. The firm emerged as a multi-boutique platform, acquiring and incubating specialized investment teams rather than building a single monolithic strategy. Lacerda took the CEO role while Amador led investment direction, with the firm publicly listing itself on the Brazilian B3 exchange in 2018 under ticker BRBI11 — a rare move that made it one of the few Brazilian asset managers traded on the local bourse. The firm's capital is deployed across a deliberately diversified mix of Brazilian and global assets. Its core strategies include listed equities, distressed credit, special situations, private equity, real estate development, and infrastructure lending. The real estate division has been particularly active in São Paulo's commercial and logistics markets. The credit arm focuses on mid-market corporate lending in Brazil, often structuring deals that banks have retreated from. On the equity side, the firm runs both long-only and long-short funds. Co-investment vehicles alongside institutional limited partners are a standard structure rather than an exception. While BRBI has not publicly consolidated its total assets under management, publicly available regulatory filings and B3 disclosures suggest a portfolio in the range of several billion reais. The firm operates primarily from its São Paulo headquarters. Since its founding, it has completed multiple acquisitions of smaller asset management teams to broaden its product shelf, with its publicly traded parent company providing a transparent vehicle for capital markets access. In early 2024, the firm continued to expand its private credit capabilities, launching new vehicles targeting higher-yielding Brazilian corporate debt as local banks tightened lending standards (per public record). The firm's unusual structure — a publicly traded holding company that owns a collection of asset management boutiques — distinguishes it from both traditional independent managers and the large Brazilian banking conglomerates that dominate the local market. That architecture gives portfolio managers operational autonomy while offering institutional clients the transparency of a listed entity. It also creates a permanent capital base that can fund acquisitions of new teams without requiring complex private fundraising rounds.
General information
Firm type
Asset Manager
Year founded
2012
AUM
R$1B - R$5B (Altss estimate)
Location
Region
Latin America
Country
Brazil
City
São Paulo
Corporate office
São Paulo, SP, Brazil
Principals
Ricardo Lacerda
Chief Executive Officer
José Roberto Amador
Chief Investment Officer
Sector focus
Frequently asked questions
What is BRBI BR Partners' ownership structure?
BRBI BR Partners is a publicly traded company listed on Brazil's B3 stock exchange under the ticker BRBI11. The firm completed its initial public offering in 2018. Founders Ricardo Lacerda and José Roberto Amador retain significant ownership stakes alongside public shareholders. This structure makes it one of the few listed independent asset managers in Brazil.
Which asset classes does BRBI BR Partners manage?
The firm operates across five core areas: listed equities (long-only and long-short), private credit (including distressed and special situations), real estate (commercial, logistics, and development), private equity, and infrastructure lending. Its multi-boutique model means each strategy typically has a dedicated investment team with its own mandate.
How does BRBI BR Partners source its private credit deals?
The firm targets mid-market Brazilian corporates that are underserved by traditional banks, particularly in periods of tight local credit conditions. Dealflow comes through the long-standing corporate relationships of its investment teams and through its network across São Paulo's financial and legal communities. It often structures bilateral loans or club deals rather than competing in broad syndication processes.
Who runs the day-to-day investment decisions at BRBI?
José Roberto Amador serves as Chief Investment Officer and oversees the firm's overall investment posture. Individual portfolio managers within each boutique division retain significant autonomy over their specific strategies. Ricardo Lacerda, as CEO, manages the corporate entity, acquisition strategy, and public-market obligations.
Does BRBI BR Partners manage money for international investors?
The firm primarily serves Brazilian institutional clients, including pension funds, insurers, and large family offices. Some of its vehicles have attracted capital from Latin America-focused global investors, though the majority of its limited partner base appears domestic based on available public records.
How is BRBI's real estate operation structured?
The real estate division operates as a distinct unit within the holding company, focusing on development and acquisition in São Paulo's commercial, logistics, and residential corridors. It typically raises project-specific vehicles with institutional co-investors rather than running an open-end fund structure.
What distinguishes BRBI from other Brazilian asset managers?
Its publicly traded multi-boutique architecture is rare in Brazil, where most asset managers are either private partnerships or divisions of large banks. BRBI's model uses its public listing for permanent capital and transparency while granting portfolio managers the autonomy typically found at independent firms. This hybrid has allowed it to acquire and integrate smaller teams without diluting their investment cultures.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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