Giant Steps Capital

No single portfolio manager makes discretionary calls. Founding partners Flavio Terni and Marco Terni oversee a systematic, model-driven process where deep learning and reinforcement learning algorithms determine trade execution. The research and engineering teams, led by CTO Otavio Furlan, build and maintain the infrastructure that generates signals and manages risk.

The firm recruits from top-tier Brazilian and international universities, prioritizing backgrounds in computer science, applied mathematics, and machine learning over traditional finance. With offices in New York and San Francisco alongside São Paulo, it accesses both the US technology labor market and Brazil's strong engineering pipeline.

Giant Steps Capital operates as a quantitative hedge fund manager, not a family office. It manages external capital through systematic strategies. The founding Terni brothers built the firm as an independent asset management business from inception in 2012.

The firm trades liquid futures and equities across global exchanges. Asset classes include equity index futures, fixed-income futures, currencies and commodities, with execution spanning markets in the Americas, Europe and Asia. The fully systematic approach does not extend to illiquid private markets.

No. All strategies are fully systematic, driven by machine-learning models with no fundamental analyst teams or discretionary macro overlay. The firm's public materials consistently frame its product set as pure quantitative, distinguishing it from the fundamental long-biased and macro managers that dominate Brazil's asset management industry.