Grupo Lacan

Pedro Chermont serves as Chief Investment Officer and leads the investment committee that oversees portfolio allocation across the firm's equity, real estate, and credit strategies. The firm's governance appears centralized under a single decision-making body rather than siloed by asset class. No additional named portfolio managers have been publicly identified.

The firm operates what is effectively a generalist mandate — managing liquid Brazilian equities, originating private credit exposure to mid-market corporates, and developing or acquiring direct real estate assets — all within a single operating entity. This hybrid structure means the firm can reallocate capital opportunistically across asset classes without the constraints of a dedicated fund mandate, though it also requires managing duration mismatch between illiquid property positions and daily-priced public securities.

In public equities, the firm targets listed Brazilian companies across market capitalizations, with an apparent value orientation. In real estate, it engages in direct development and income-producing acquisitions rather than REIT investment. The private credit book focuses on structured receivables and special situations, providing financing outside the traditional bank lending channel to mid-market Brazilian corporates.

The firm's public profile indicates it operates as an independent asset manager, which in the Brazilian context often serves a mix of family capital and external high-net-worth investors. It does not appear to operate offshore feeder vehicles or UCITS-eligible structures, suggesting a predominantly domestic investor base. The firm has not publicly disclosed its fund structures or investor eligibility criteria.

The firm's investments concentrate on Brazil's southeast corridor, which encompasses São Paulo and Rio de Janeiro states and represents the country's primary economic engine. Real estate development activities center on São Paulo's metropolitan region. No offshore or pan-Latin American expansion has been publicly indicated.

Given the firm's lean structure and domestic focus, deal flow in private credit and real estate likely originates through São Paulo-based intermediary networks, including local investment banks, law firms, and property brokers. The firm's direct origination model bypasses the fund-of-funds layer common in offshore allocations to Brazilian alternatives, though specific sourcing partners have not been disclosed.

The firm has not published explicit sector exclusions. Based on its observed Brazilian-listed-equity focus and generalist mandate, it is unlikely to operate in deeply regulated sectors such as defense or nuclear energy, nor in early-stage venture capital where Brazilian independents of this profile rarely participate. No ESG or exclusionary policy documentation is publicly available.