Itau Asset Management

Carlos Augusto Salamonde serves as Head of Asset Management, overseeing the firm's full investment platform. He is supported by dedicated portfolio-management teams across equities, fixed income, private credit, and real assets. Fernando Beyruti leads global distribution. The unit operates within Itaú Unibanco, Brazil's largest private-sector bank.

The firm derives a significant origination advantage from its affiliation with Itaú Unibanco, which maintains extensive corporate-lending relationships across Brazil, Chile, Mexico, and Colombia. Private-credit and infrastructure deals often emerge through the bank's balance-sheet activities, while public-markets teams benefit from research, trading-desk flow, and primary-debt issuance access that independent managers cannot match.

It operates as a traditional third-party asset manager within a large publicly traded bank holding company. It is not a family office. Institutional and retail clients invest through separately managed accounts and commingled funds across equities, fixed income, multi-asset, private credit, and infrastructure strategies.

The firm executes both. Liquid strategies are mostly direct, while private-markets activity includes direct equity and credit investments alongside the bank's balance sheet, as well as fund-of-funds allocations for institutional clients seeking diversified private-market exposure in Latin America. The 2023 infrastructure equity vehicle is a direct-investment fund.

In private markets, the firm focuses on growth-stage and mature assets rather than early-stage venture. Infrastructure strategies target operational brownfield assets and late-stage greenfield projects with visible cash-flow profiles. Private credit concentrates on mid-market corporate lending in Brazil and select cross-border situations.

The firm does not publish explicit exclusion lists, but its infrastructure and private-credit focus leans toward regulated utilities, transportation, energy transition, and healthcare services in Latin America. It is not known to actively pursue early-stage technology, biotech, or speculative real-estate development strategies that sit outside the bank's core corporate-banking competencies.

Yes. Itaú Social Foundation operates as a legally separate entity focused on public-education programs in Brazil. Governance is distinct from the asset manager, and foundation assets are managed independently, avoiding commingling with client capital. The foundation's activities are publicly reported but do not influence investment decisions within the asset-management division.